Federal Reserve Chair Jerome Powell confirmed that the US will never have a central bank digital currency (CBDC) while he leads the central bank

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Powell made the statement on Feb. 11 while speaking at the “Semiannual Monetary Policy Report to Congress.” His comments were in response to Senator Bernie Moreno’s concerns that the US could “look like China” and potentially issue a CBDC.

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11:00am, Tuesday, February 11, 2025

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The chairman of the U.S. central bank also gave a clear answer to his intentions regarding CBDCs — a nebulous threat of a digital dollar that had long concerned U.S. crypto firms, though no U.S. proposal had ever really developed. When asked whether he'd agree to never launch a CBDC, Powell simply responded, "yes."

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Jerome Powell

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