US may not need CBDC – Boston Fed chief

Eric Rosengren
Eric Rosengren
Photo: © 2019 Federal Reserve Bank of Boston

The policy case for a digital dollar has not yet been made, Boston Federal Reserve president Eric Rosengren told an audience on May 12.

Speaking at Harvard Law School, Rosengren said that the Boston Fed was involved in two central bank digital currency (CBDC) research projects. But he said it was not clear whether the US needed a CBDC in the light of improvements to the Fed’s payment systems.

The FedNow payments system, set to debut in 2023, “will provide many of the use cases frequently

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