US Treasury Secretary Yellen Says She’s Undecided Whether the Fed Should Issue Digital Currency
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Feb 25, 2022, 5:10:00 AM2/25/22
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The U.S. Treasury Secretary Janet Yellen says that she has not made up her mind about whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there are also meaningful costs.”
Janet Yellen Has Not Decided Whether the Fed Should Develop a Digital Dollar
Treasury Secretary Janet Yellen said Thursday during an interview at the Reuters Next conference that she has not formed an opinion about whether the Federal Reserve should create a digital dollar.
She explained that the decision would require broad consensus among Congress, the central bank, and the White House. The treasury secretary believes that more study is needed on the advantages and disadvantages of having a central bank digital currency (CBDC) in the U.S., including its effects on the banking system.
Janet Yellen Has Not Decided Whether the Fed Should Develop a Digital Dollar
Treasury Secretary Janet Yellen said Thursday during an interview at the Reuters Next conference that she has not formed an opinion about whether the Federal Reserve should create a digital dollar.
She explained that the decision would require broad consensus among Congress, the central bank, and the White House. The treasury secretary believes that more study is needed on the advantages and disadvantages of having a central bank digital currency (CBDC) in the U.S., including its effects on the banking system.
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