World News Trust World News Trust
World News Trust World News Trust
  • News Portal
  • All Content
    • Edited
      • News
      • Commentary
      • Analysis
      • Advisories
      • Source
    • Flatwire
  • Topics
    • Agriculture
    • Culture
      • Arts
      • Children
      • Education
      • Entertainment
      • Food and Hunger
      • Sports
    • Disasters
    • Economy
    • Energy
    • Environment
    • Government
    • Health
    • Media
    • Science
    • Spiritual
    • Technology
    • Transportation
    • War
  • Regions
    • Africa
    • Americas
      • North America
      • South America
    • Antarctica
    • Arctic
    • Asia
    • Australia/Oceania
    • Europe
    • Middle East
    • Oceans
      • Arctic Ocean
      • Atlantic Ocean
      • Indian Ocean
      • Pacific Ocean
      • Southern Ocean
    • Space
  • World Desk
    • Submit Content
  • About Us
  • Sign In/Out
  • Register
  • Site Map
  • Contact Us
  • :::ADVISORY:::GOOD MORNING! 230322:::ADVISORY:::
  • How Elon Musk's Tweets Unleashed A Wave Of Hate | Marianna Spring
  • Will China Dump Its Dark Deal With America? | Yanis Varoufakis
  • Anatomy Of A Financial Meltdown | Nouriel Roubini
  • Credit Suisse Unease Sparks Fresh Selloff In World Stocks | Dhara Ranasinghe
  • SVB Shockwaves Rattle Global Banks In Grip Of Contagion Fears | Trevor Hunnicutt and Tom Westbrook
  • Analysis: Silicon Valley Bank's Fall Widens Systemic Cracks As Cheap Money Vanishes | David Randall And Davide Barbuscia
  • How Elon Musk's Tweets Unleashed A Wave Of Hate | Marianna Spring
  • :::ADVISORY:::GOOD MORNING! 230322:::ADVISORY:::

Fed Kicks Off Debate On Issuing Its Own Digital Currency | Jonnelle Marte

More items by author
Categories
Edited | Front Page Stories | All Content | Economy | Finance | Government | North America | News -- WNT Selected | Commentary -- WNT Selected
Tool Bar
View Comments

warholdollarJan 20 (Reuters) - Creating an official digital version of the U.S. dollar could give Americans more, and speedier, payment options, but it would also present financial stability risks and privacy concerns, the U.S. Federal Reserve said in a long-awaited discussion paper.

The paper released Thursday made no policy recommendations and offered no clear signal on where the Fed stands on whether to launch a central bank digital currency (CBDC), a digital form of cash in your pocket. The Fed said it would not proceed with creating one "without clear support from the executive branch and from Congress, ideally in the form of a specific authorizing law." 

The paper tiptoes around a subject that has sparked debate inside the Fed's top ranks, even as other central banks across the globe are exploring the adoption of digital currencies.

Nevertheless,it sets the stage for the central bank to collect public feedback on the potential costs and benefits of a CBDC, which could ultimately advance legislation long-term.

(more)

READ MORE: Reuters

back to top
  • Created
    Friday, January 21 2022
  • Last modified
    Friday, January 21 2022
  1. You are here:  
  2. Home
  3. All Content
  4. Edited
  5. Fed Kicks Off Debate On Issuing Its Own Digital Currency | Jonnelle Marte
Copyright © 2023 World News Trust. All Rights Reserved.
Joomla! is Free Software released under the GNU General Public License.