Federal Reserve Chairman Jerome Powell has made clear the U.S. central bank's current stance on a Central Bank Digital Currency (CBDC), amidst a flurry of speculation and inquiries. Powell stated that the Federal Reserve is not working on a CBDC and has no immediate plans to propose one, countering rumors of a secret project. He emphasized the need for legislation to authorize a digital dollar and clarified that any decision on the U.S. needing a CBDC has not been made, noting the Fed is a "long, long way" from such a proposal. Despite the Biden administration expressing high urgency on CBDC research and development, Powell's comments reveal a significant gap between political aspirations and the Federal Reserve's current trajectory. The Federal Reserve has declared CBDC a 'Key Duty' to Congress, yet Powell's remarks, indicating it is "wrong to say" the Fed is secretly working on a CBDC, highlight a cautious approach, emphasizing the distance from actual implementation.
We sat down .@kirkelliottphd to talk about what’s going to happen with the economy and the fed printing all that $ https://t.co/3qknjPiWmp
THE VAULT: Fed Chair Jay Powell pushed back on attacks from top House Republicans today about the U.S. central bank’s work on a digital dollar. @BrendanPedersen has the details: https://t.co/iFQVhntNjJ
Fed Chair Powell: No ’secret lab’ brewing a digital dollar surprise https://t.co/m818dOw6Dg
No plans for CBDC anytime soon - The Fed https://t.co/88YPojCUM5
🎙️ Ever pondered the potential of a digital dollar? Our financial services reporter & co-author of The Vault @BrendanPedersen just posed a crucial question to Federal Reserve Chair Jay Powell about the Fed's stance. Follow the discussion now! 💡 https://t.co/A0urIF8wE1
🎙️ Ever pondered the potential of a digital dollar? Our Financial Services Reporter & Author of The Vault @BrendanPedersen just posed a crucial question to Federal Reserve Chair Jay Powell about the Fed's stance. Follow the discussion now! 💡 https://t.co/7G5OcurF4f
🚨NEW: Fed Chairman Powell addressed #CBDCs today, saying “I haven’t at all in my own mind made a decision that the U.S. needs a central bank digital currency.” He also said “the Fed is a “long, long way away from proposing a CBDC.”
JUST IN: 🇺🇸 Fed Chair Powell says the Federal Reserve is not working on a CBDC, and has no plans to propose one. "It's wrong to say we're working on a CBDC." https://t.co/L1KO2g4X9x
POWELL: WE ARE TRYING TO STAY IN THE FRONTIERS OF WHAT IS GOING ON IN DIGITAL FINANCE....but... POWELL: WE NEED TO BE KNOWLEDGABLE ABOUT ALL THAT*POWELL: IT'S WRONG TO SAY FED IS SECRETLY WORKING ON A CBDC *Powell: Fed Is a 'Long, Long Way' Away From Proposing Central Bank…
JUST IN: 🇺🇸 Fed Chair Powell says they haven't come to a conclusion that they should propose a CBDC. "It's wrong to say we're working on a CBDC." https://t.co/sZuw80Def0
POWELL: I HAVEN'T AT ALL IN MY OWN MIND MADE A DECISION THAT THE US NEEDS A CENTRAL BANK DIGITAL CURRENCY
I asked Chair Jay Powell about what the Federal Reserve is doing with CBDCs right now. Powell said it was "wrong to say" that the Fed has "a secret lab" where central bankers are creating a digital dollar before springing it on Congress. Got some laughs!
Chairman Jerome Powell on the Fed actively working to implement a CBDC... #FOMC https://t.co/9hMnxgRyNg
*POWELL: IT'S WRONG TO SAY FED IS SECRETLY WORKING ON A CBDC it's not secret at all
I think #Powell could do without a Central Bank Digital Currency. 'We are a long, long way from a Central Bank Digital Currency.' https://t.co/uOFCly8dcx
BREAKING: JEROME POWELL DENIES FED WORKING ON A CBDC "IN A LAB, WAITING TO SPRING IT ON CONGRESS"
Powell: The Fed isn't cooking up a secret digital dollar "in a lab" and waiting to "spring it on Congress." https://t.co/CuwqDnLpgj
Powell: The Fed isn't cooking up a secret digital dollar "in a lab" and "waiting to spring it on Congress."
POWELL SAYS WOULD TAKE LEGISLATION TO AUTHORIZE A DIGITAL DOLLAR
🚨 EMERGENCY ECONOMIC UPDATE WITH DR. KIRK ELLIOTT! 🚨 Dr. Kirk .@kirkelliottphd is an economic expert and has been in the silver and gold business for over 20 years. He's gonna give y'all the blueprint on how to properly move in this unpredictable economy! https://t.co/X7cNWU4QkH
Federal Reserve Declares CBDC a “Key Duty” to Congress, Despite Public Statements Attempting To Downplay Its Focus https://t.co/UaiRrckLIo
Federal Reserve says CBDC is a "Key Duty" Wait, haven't they been denying they're working on it? Did Powell JUST deny CBDC? So what are the Feds "7 Key Duties" that they just told Congress? https://t.co/2pjAiffpZn
“My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC.” The Biden administration is determined to launch a CBDC and will attempt to undermine Bitcoin in the process. Sound…