Federal Reserve publishes long-awaited central bank digital currency report

as a discussion paper, the Fed notes in its introduction release that it"examines the pros and cons of a potential U.S. central bank digital currency, or CBDC."

"It invites comment from the public and is the first step in a discussion of whether and how a CBDC could improve the safe and effective domestic payments system. The paper does not favor any policy outcome," the paper continues. The paper, long-awaited by policy-watchers and members of Congress, represents a significant foray into the Fed's work in the realm of CBDC. However, the Fed has said that any movement toward an actual digital dollar lies squarely in Congress' court."Consumers and businesses have long held and transferred money in digital forms, via bank accounts, online transactions, or payment apps.

To wit, the Fed has released a series of questions alongside the paper in the hopes that the public will respond in the next 120 days. "We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States," Jerome Powell, Fed chairman, said in a statement along with the paper's release.

The only ones who want an inferior product are the US government, the Fed Reserve (whoever they are), and the IMF. No citizen wants this unless you ask someone in a communist country who has to say they like it.

The report states: 'Wilbert, I was not ready for this kind of conundrum. I expect you will take care of this as I need to do my hair this week.' Wilbert:🤠

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