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2/18, 7:59 PM (Source: TeleTrader)
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CBDC could be attractive as store of value - Fed's Brainard

United States Federal Reserve Governor Lael Brainard (pictured) said on Friday that a central bank digital currency (CBDC) "could be attractive as a store of value and means of payment to the extent it is seen as the safest form of money."

Delivering a speech at the 2022 US Monetary Policy Forum in New York, she emphasized that it is that the US must lead the research and "policy development" of CBDC, considering the position of the dollar in the global financial system.

Brainard also stressed the Fed should examine how financial markets across the world would "look like both with and without a Federal Reserve-issued CBDC," and especially take into account the People's Bank of China's tests of the digital yuan that enjoyed "substantial early progress" and "may have implications for the evolution of cross-border payments and payment systems."

Baha Breaking News (BBN) / MS