Fed Head: The Decision to Launch a Digital Dollar Has Not Yet Been Made

Jerome Powell, head of the The Fed, has said that the regulator has not yet made a decision to launch a CBDC in the US.

According to him:

“We will not make a positive decision for some time.”

The Fed, in collaboration with Congress and the executive branch, will focus on policy assessment and technology issues.

The head of the Central Bank has outlined a multi-year period during which the Fed will focus on “strengthening public confidence in the analysis carried out and the final conclusions that have yet to be drawn.”

Powell has emphasized referring to the digital dollar report that if adopted, the CBDC would have several key characteristics, including participation of intermediaries, privacy protection, identity verification and compatibility.