Federal Reserve Declares CBDC a “Key Duty” to Congress, Despite Public Statements Attempting To Downplay Its Focus
Fed has only recently been telling Congress that steps leading to a digital dollar are among its “7 key duties.”
This is according to Congressman Tom Emmer, who posted a document on X on March 14, explaining that his office received it as the Fed representatives were in Congress for a presentation.
What caused the alarm is the mention of Automated Clearinghouse and FedNow among the “key duties,” as these payment systems are seen as a way to move towards a CBDC.
Chairman Jerome Powell told the Banking, Housing and Urban Affairs Committee that adopting or even recommending a US CBDC was a something that was “nowhere near (…) in any form.”
“People don’t need to worry about it,” Powell also said.
Brainard is reported as saying a CBDC would “reinforce global dollar dominance” and be “a safe central bank liability in the digital financial ecosystem.”
Source: reclaimthenet.org
Donald Trump Claims He Will “Never Allow” Creation of CBDC in the US if Reelected
Federal Reserve Declares CBDC a “Key Duty” to Congress, Despite Public Statements Attempting To Downplay Its Focus
Fed has only recently been telling Congress that steps leading to a digital dollar are among its “7 key duties.” This is according to Congressman Tom Emmer, who posted a document on X on March 14, explaining that his office received it as the Fed representatives were in Congress for a presentation. What caused the alarm is the mention of Automated Clearinghouse and FedNow among the “key duties,” as these payment systems are seen as a way to move towards a CBDC. Chairman Jerome Powell told the Banking, Housing and Urban Affairs Committee that adopting or even recommending a US CBDC was a something that was “nowhere near (…) in any form.” “People don’t need to worry about it,” Powell also said. Brainard is reported as saying a CBDC would “reinforce global dollar dominance” and be “a safe central bank liability in the digital financial ecosystem.” Source: reclaimthenet.org
Donald Trump Claims He Will “Never Allow” Creation of CBDC in the US if Reelected
https://finance.yahoo.com/news/donald-trump-claims-never-allow-044123759.html
So the Fed dictates "key duties" to Congress?