Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
Federal Reserve board member Christopher Waller said on August 5 that he sees no immediate need for a US central bank digital currency (CBDC). He told the American Enterprise Institute that he is “not convinced… a CBDC would solve any existing problem” better than proposed alternatives.
Waller said existing private and public payments systems performed many functions a CBDC would. He could not identify a “market failure” that would require Fed intervention, he said.
Addressing claims that a
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