Fed’s Powell: More important for U.S. to get digital currency right than be first
Monday, October 19, 2020 | Tag Cloud Tags: EU, Federal Reserve, News, Trade, United States, Worthy News | Learn about out FREE SYNDICATION
(Worthy News) -In any development of a cross-border digital currency, it is more important for the United States “to get it right than be first,” U.S. Federal Reserve Chair Jerome Powell said on Monday.
“We do think it’s more important to get it right than to be first and getting it right means that we not only look at the potential benefits of a CBDC, but also the potential risks, and also recognize the important trade-offs that have to be thought through carefully,” Powell said in a panel discussion on digital payments hosted by the International Monetary Fund.
Powell said it is vital the Fed assess what impact a CBDC might have on a range of critical issues. [ Source: Reuters (Read More…) ]
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