FED Its director, Lael Brainard, spoke at the US Monetary Policy Forum in New York on Friday.
stablecoins and cryptocurrency Pointing out that the global use of currency units is increasing, Brainard said that the US central bank’s digital currency can play an important role in supporting financial stability.
“Policymakers, including the Federal Reserve, need to plan for the future of the payments system and consider all possible options to highlight the potential benefits of new technologies while maintaining stability.”
Lael Brainard, who pointed out that the USA still has not issued a CBDC in addition to the CBDC studies in other countries, emphasized that it is necessary to consider how this situation will affect the use of the dollar in global payments in the future.
“A US CBDC could be a potential way to ensure that people using the dollar around the world continue to rely on the strength and security of the US currency to transact and do business in the digital financial system.”
Brainard said that while China’s central bank CBDC presented the digital yuan to international visitors at the Winter Olympics, the United States is still considering whether to issue a digital dollar.
Lael Brainard, who supports the idea of the US issuing a CBDC, stressed the importance of considering the potential impact of the US CBDC.
Proponents of the US issuing a CBDC say it can streamline payment systems, improve financial inclusion and even promote financial stability, while opponents say they worry about costs, including privacy concerns.