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Fed's Powell: China's Approach to Digital Currency Would not Work in U.S.
Summary: China's rapid development of a digital version of the yuan will not push the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China's approach would not work in the United States. Powell, in remarks following the Fed's latest policy meeting, emphasized the Fed's primary ...
China's rapid development of a digital version of the yuan will not push the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China's approach would not work in the United States.
Powell, in remarks following the Fed's latest policy meeting, emphasized the Fed's primary goal is not speed to market but rather avoiding any calamitous misstep in executing digitalization of the dollar, which remains the world's dominant reserve currency.
By Amy Liu
Tags: Digital Currency,Fed,POWELL
Link: Fed's Powell: China's Approach to Digital Currency Would not Work in U.S. [Copy]
