Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United States Federal Reserve Chairman Jerome Powell, however, indicate that this may not be the case.
The chairman’s comments were filmed and later shown at an event in Switzerland on Thursday, according to an article from Bloomberg. The Committee on Payments and Market Infrastructures put on the event. In his talk, Powell mentioned that the U.S. central bank and six other central banks collaboratively put together a report in conjunction with the Bank for International Settlements. The report weighed the viability of CBDCs viability in relation to governmental goals.
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