Fed's Lael Brainard hints at US playing a lead role in development of CBDCs
“A U.S. CBDC may be one ... way to ensure that people ... can ... rely on ... U.S. currency to ... conduct business," said Brainard. Lael Brainard, a member of the Federal Reserve’s Board of Governors, encouraged the United States to be a leader in research and policy regarding central bank digital currencies, or CBDCs, due to potential international developments.In remarks prepared for the U.S Monetary Policy Forum in New York on Friday, Brainard said the People's Bank of China’s pilot program for its digital yuan could have implications on the dollar’s dominance in cross-border payments....
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