US Federal Reserve is studying the issue of creating an electronic dollar

WASHINGTON, 23 Feb – RIA Novosti. The US Federal Reserve is carefully studying the issue of creating an electronic dollar, but it must be done in such a way as to avoid negative consequences for the banking system, said the head of the US Federal Reserve System Jerome Powell on Tuesday.

“We are very closely studying the question of whether to introduce the electronic dollar. This is an issue that the world's central banks are considering … There are significant technical and regulatory issues in relation to how to do this,” he said, speaking at the Senate Banking Committee.

The Fed, Powell assured, intends to resolve related technical issues, as well as extensively consult with the public on the advisability of introducing an electronic dollar in general.

“I would also say that we are the world's reserve currency, and we have a responsibility to do it right. We don't have to be the first, we have to do it right. But this is what we invest time, work in,” – he said.

According to him, in this process it is necessary to avoid the creation of something that can play a destabilizing role or take money away from the banking system. Overall, however, Powell described it as a “high priority project.”

Author: wedocount

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