Federal Reserve Chairman Jerome Powell shifted his tack slightly Thursday on the topic of creating a central bank digital currency, saying the Fed will issue a paper this summer designed to “stimulate broad conversation” about the possibility.
In a brief video and statement posted Thursday on the Fed’s web site, Powell seemed more open to pursuing the idea whereas last year he indicated he wasn’t in any hurry to develop a CBDC, considering the risks and trade-offs for the U.S. payments system.
