Fed Governor Bowman Says Advantages of U.S. Digital Greenback Is ‘Unclear’ However Dangers Are Apparent

“We’ve got seen a variety of arguments within the public debate about issuing a CBDC, together with addressing frictions inside the cost system, selling monetary inclusion, and offering the general public with entry to secure central financial institution cash,” stated Bowman, one in all seven members of the Federal Reserve Board that oversees U.S. funds techniques and banking. “I’ve but to see a compelling argument {that a} U.S. CBDC may resolve any of those issues extra successfully or effectively than alternate options, or with fewer draw back dangers for customers and for the economic system.”