Free Trial

MNI BRIEF: Fed Staffer Estimates CBDC Would Take 5 Years

(MNI) WASHINGTON

The Federal Reserve could take around five years to issue a central bank digital currency if it decided to do so, a top staffer said Monday, emphasizing uncertainty around the estimate and the continued need for feedback from a broad array of stakeholders in the process.

The Fed released a discussion paper in January on a U.S. central bank digital currency and started a comment period that will end later this month. David Mills, a staffer at the Federal Reserve board who focuses on payment systems, said at the Atlanta Fed's annual Financial Markets Conference next steps would be to summarize comments, continue outreach and identify areas where further research is needed.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.