Federal Reserve Researches Development of U.S. Digital Currency

Federal Reserve Governor Lael Brainard has announced research and plans for the potential development of a U.S. digital dollar. She reiterated potential plans for a future Central bank digital currency (CBDC). Brainard cited that the Fed is currently experimenting and researching digital currencies.

"Given the dollar's important role, it is essential that the Federal Reserve remain on the frontier of research and policy development regarding central bank digital currencies," Federal Reserve Board Governor Lael Brainard said in a release in mid August. "Like other central banks, we are continuing to assess the opportunities and challenges of, as well as use cases for, a digital currency, as a complement to cash and other payments options."

Notably, the Federal Reserve Board's Techno...

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