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Fed Gov Bowman on Central Bank Digital Currency

  • Fed Gov Bowman is discussing Central Bank Digital Currency (CBDC), at the Georgetown University McDonough School of Business Psaros Center for Financial Markets and Policy.
  • Regarding CBDC, Bowman said "there could be some promise for wholesale CBDCs in the future for settlement of certain financial market transactions and processing international payments."
  • However, "when it comes to some of the broader design and policy issues, particularly those around consumer privacy and impacts on the banking system, it is difficult to imagine a world where the tradeoffs between benefits and unintended consequences could justify a direct access CBDC for uses beyond interbank and wholesale transactions."

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