Lael Brainard China India Japan city Gift, India Digital Currency Lael Brainard China India Japan city Gift, India

Fed's Brainard sees case for central bank digital currency

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economictimes.indiatimes.com

version of the U.S. dollar could help ensure financial system stability as crypo-assets and digital currencies developed by other countries become increasingly popular, Federal Reserve Vice Chair Lael Brainard said on Wednesday. «As we assess the future digital financial system, it is prudent to consider how to preserve ready public access to safe central bank money, perhaps through the digital analogue of the Federal Reserve's issuance of physical currency,» Brainard said in testimony released in advance of her appearance on the issue before the U.S.

House of Representatives Financial Services Committee on Thursday. «We recognize there are risks of not acting, just as there are risks of acting,» she said.

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