Lawmaker Says Fed Pursuing CBDC Despite Publicly Stating Otherwise

The Federal Reserve said back in 2022 that it was reviewing the potential risks and benefits of a CBDC. (Credit: AFP)

KEY POINTS

• CBDC is on the bottom list of the Fed's 'Key Duties' list, as per Rep. Emmer
• The Fed's Powell said last week that the bank was 'nowhere near recommending' a digital currency
• The US is one of 30 countries worldwide whose CBDC initiative is still in the development phase

The U.S. central bank recently reiterated that it was far from even thinking about developing a central bank digital currency (CBDC), but House of Representatives Majority Whip Tom Emmer, R-Minn., revealed Thursday that the Federal Reserve may be planning otherwise.