Federal Reserve Chairman Jerome Powell said the U.S. will never have a central bank digital currency as long as he leads the Fed.
Details: Testifying before the Senate Banking Committee on the Fed’s monetary policy report to Congress, Powell—responding to a question from Sen. Bernie Moreno (R-Ohio)—affirmed that the country would never have a CBDC under his watch.
ICBA View: ICBA has repeatedly expressed opposition to the creation of a U.S. central bank digital currency, requesting federal records from U.S. agencies on whether legislative changes are required to issue a U.S. CBDC.
