US Treasury Secretary Janet Yellen (Janet Yellen) has expressed her views on the potential of the digital dollar, but is unwilling to draw any conclusions at this stage of the litigation.Yellen Said On Thursday, she did not form an opinion on whether the Fed should create a digital version of the dollar, but such a move requires a broad consensus among Congress, the U.S. Central Bank, and the White House.
This follows Recent report The Federal Reserve is currently studying whether the electronic version of the U.S. dollar is beneficial. Yellen said she saw the pros and cons of the digital dollar. Although she does have ideas about its implementation, she feels that more research is needed before she can get any clear answers.
Yellen said that the advantages of central bank digital currencies need further research, including its Impact on banking institutions.
In contrast, President Biden chose to serve as Fed Governor Lael Brainard (Lael Brainard) as the Vice Chairman of the U.S. Central Bank. Call The urgency of establishing a digital dollar. She said that when China and other countries are developing their own central bank digital currencies, she cannot understand that there is no one. She thinks it is a competition.
According to the secretary of the Federal Reserve, a consensus needs to be reached before moving on. Yellen said that the Fed is conducting research on this issue and will soon be available, and they recognize that a broad consensus between the authorities is needed to move forward.
“This is an important decision that requires consensus. There are some benefits, but there are also meaningful costs.”
As Cointelegraph reported in September, Federal Reserve Chairman Jerome Powell stated that there are Central banks don’t need to rush their digital currencies Development Plan. Although several central banks have created their own CBDCs, Powell said that the Fed is not in a hurry to accept this movement.