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Powell: Digital Dollar A "High Priority Project" For The Fed

FED

Sen Hagerty asks about whether Fed will develop a digital dollar. Powell says Fed looking "very carefully" at the question of issuing a digital dollar.

  • Powell says there are significant technical and policy questions; Fed committed to solving the tech problems and consulting w the public and very transparently with all interested constitutencies whether we should do this. We're the world's reserve currency, we need to get this right, we don't need to be first. We're investing time and labor in this - a "high priority project for us".
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