Fed's Powell: CBDC could help dollar's international standing - Breaking The News
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Fed's Powell: CBDC could help dollar's international standing

EPA-EFE/KEVIN DIETSCH

The United States Federal Reserve Chair Jerome Powell said on Friday that a US central bank digital currency (CBDC) could "potentially help maintain the dollar's international standing." In considering the development of a CBDC, the Fed will also take into account the possible evolution of the current global financial system.

Powell added the rapid changes in the system could affect the dollar's future international role. However, he added that for now, the Fed's "strong commitment" to price stability contributes to "widespread confidence" in the US currency.

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