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MNI (Washington)

The Federal Reserve Thursday released research examining the costs and benefits of a central bank digital currency and seeking feedback from the public, while warning a CBDC could affect monetary policy implementation and interest rate control.

The report stressed it does not favor any policy outcome of potentially issuing a U.S. central bank digital currency and added the Fed does not intend to proceed without clear support from the executive branch and from Congress, ideally in the form of a specific authorizing law.

“We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Chair Jerome Powell said in a statement. The Fed Board’s paper asks for public comment on more than 20 questions.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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