The Federal Reserve Financial institution vice chairman spoke on the Philadelphia Fed’s fintech occasion on Sept. 8 about what the central financial institution’s position is in monetary innovation. Analysis and supervision was the brief reply, with a nod to the FedNow Service.
Together with the usual disclaimer about it making no choices with out congressional authorization, Barr supplied an summary of the Fed’s “present focus” of central financial institution digital foreign money (CBDC) analysis. He characterised it as “fundamental analysis […] which may assist a CBDC funds spine, or for different functions within the current funds system.”
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