Fed Seeks Public Feedback on U.S. Digital-Coin Issuance

The transcript discusses a Federal Reserve report on the potential implementation of a US central bank digital currency (CBDC). The report outlines the pros and cons of a digital dollar, highlighting benefits such as reduced credit risk and enhanced financial inclusion, while also addressing risks like changes to the financial system and privacy concerns. The Fed is seeking public comment and has not taken a position on issuing a CBDC. The process would require significant legislative action and raises questions about authority and regulatory involvement.

How does the Federal Reserve plan to gather public opinion on the digital dollar?

What are the potential benefits of a central bank digital currency (CBDC) as outlined in the report?

What risks are associated with the implementation of a digital dollar according to the report?

What are the implications of the Federal Reserve being in charge of banking accounts if a digital dollar is implemented?

What concerns were raised regarding the Federal Reserve's authority to create a new form of payment?