Bank President Says US Digital Currency Is Inevitable

In a letter to Jerome Powell, two congressmen have asked the Federal Reserve chairman to consider developing a US-backed cryptocurrency. In short, they believe this is necessary to keep pace with the rest of the world.
However, Powell has previously poured cold water on the idea of a digital dollar. And he’s not alone in this view, with many arguing that central bank digital currencies (CBDCs) negatively impact a country’s economic landscape by stifling commerce.Concern Over Lack of