Federal reserve governor ‘highly skeptical’ of digital dollar

U.S. Federal Reserve Governor Christopher Waller has stated that he is “highly skeptical” that the country needs to develop its own central bank digital currency (CBDC).

In remarks prepared for delivery to the American Enterprise Institute on Aug 5, the central bank board governor said:

“While CBDCs continue to generate enormous interest in the United States and other countries, I remain skeptical that a Federal Reserve CBDC would solve any major problem confronting the U.S. payment system,”

According to Bloomberg, Waller added that he saw no reason why the USD would not continue to dominate the international payment system, even if other nations started using digital currencies for cross-border payments.

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