Fed Chair Powell Vows No US CBDC During His Tenure

by Shalini Nagarajan | CryptoNews

Fed Chair Jerome Powell said Tuesday that the US central bank will not develop a central bank digital currency (CBDC) during his tenure.

His announcement ended years of speculation that the Fed might follow China’s lead by launching an official digital currency.

During the Fed’s seminannual testimony, Powell addressed Sen. Bernie Moreno’s (R-Ohio) query to assure that the US would refrain from introducing a CBDC as long as he remains chairman. Powell replied positively. Read Full Article >