Federal Reserve governor is skeptical of a US CBDC
Join Our Telegram channel to stay up to date on breaking news coverage The United States has been dragging its feet in launching a central bank digital currency (CBDC). The US Federal Reserve Board governor, Christopher Waller, has now said that a digital dollar will not improve the qualities of a US Fiat dollar that foreign entities value. Digital dollar will not enhance the qualities of a US fiat dollar In a speech on October 14, Waller, who is quite skeptical about CBDCs, said he supported having a dollar-backed stablecoin. Waller said that the primary nature of the US dollar made it beneficial to the US and the other countries where the country was used as a reserve currency. He added that the primary nature of the US dollar was not because of technological factors. Therefore, launching a US CBDC would not affect why the US dollar was adopted. He also dismissed claims that the shifting payments sector, because of the growing use of digital assets and CBDCs, would threa...