Powell Says Fed Isn't in a Rush to Adopt a Digital Currency

The transcript discusses the exploration of a Central Bank Digital Currency (CBDC) by highlighting the technological challenges, potential costs, and benefits. It emphasizes the current financial system's context, the need for public engagement, and the importance of not rushing the decision. The potential benefits of a CBDC include a more efficient and inclusive payment system, while risks such as cyber threats and financial instability are also considered. The discussion concludes with principles guiding the exploration and ongoing experimentation.

What is the importance of public engagement in the decision-making process for a CBDC?

What principles have been identified regarding the issuance of a CBDC?