The Federal Reserve is now considering launching its own digital currency.
According to CNBC, the Federal Reserve is studying whether or not they should implement their own new form of digital currency and are expected to release more information about it soon.
Chairman Jerome Powell recently said, “I think it’s important that we get to a place where we can make an informed decision about this and do so expeditiously. I don’t think we’re behind. I think it’s more important to do this right than to do it fast.”
Powell continued, “the Fed is working proactively to evaluate whether to issue a CBDC [central bank digital currency], and if so in what form.”
“We think it’s really important that the central bank maintain a stable currency and payments system for the public’s benefit. That’s one of our jobs,” he added.
FED’S POWELL: THE FEDERAL RESERVE IS AGGRESSIVELY EVALUATING WHETHER OR NOT TO LAUNCH CENTRAL BANK DIGITAL CURRENCY.
— BreakingCrypto (@BreakingCrypto5) September 22, 2021