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

Fed's Powell: CBDC could help dollar's international standing

17 June

1 min read

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.

fed powell cbdc

Powell: Employment, PCE crucial data for Fed

4 April

Federal Reserve Chair Jerome Powell emphasized on Friday that employment and inflation remain core data points guiding monetary policy, with the labor market presenting particular complexity.He reiterated that while the public often focuses on the Consumer Price Index (CPI), the Federal Reserve targets inflation using the Personal Consumption Expenditures (PCE) Price Index, which better reflects shifts in consumer behavior. Powell stressed the importance...

Powell: Impact of April 2 tariffs will unfold over time

4 April

Federal Reserve Chair Jerome Powell said on Friday that the full impact of the new US tariffs introduced on April 2 will take time to become clear. He repeatedly emphasized that the scale of the measures was larger than initially expected and that their effects on prices, supply chains, and consumer behavior would emerge gradually.Powell added that beyond tariffs, other significant policy shifts, including upcoming fiscal legislation and regulatory...

Powell: COVID echoes today, but it's not the same

4 April

Federal Reserve Chair Jerome Powell on Friday reflected on the economic upheaval triggered by COVID-19 and how today’s challenges, while reminiscent of that crisis, are unfolding under very different circumstances.Speaking about the impact of "Liberation Day," a reference to a new policy shift or a political turning point, Powell said the economic aftermath of the pandemic still shapes the Fed's current decisions. "It kind of rhymes," he noted, "but it's not exactly...

Powell: Data shows economy still solid

4 April

Federal Reserve Chair Jerome Powell said on Friday that the latest data, including the nonfarm payrolls report, show the United States economy is "solid" and that unemployment remains low. He noted high uncertainty but said the Fed will not estimate the probability of recession.Powell declined to comment on the "political discussion" surrounding tariffs imposed by the Trump administration. However, he said the levies are "higher than almost all forecasters predicted"...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.