• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Qualcomm (QCOM.O) is expanding its collaboration with Adobe (ADBE.O) to use generative AI to accelerate the content creation process.Long-dated European bonds continued to fall, with German 30-year bond yields rising 6 basis points.On September 18th, US President Trump and British Prime Minister Starmer signed a US-UK technology cooperation agreement at Chequers. Trump said the move would strengthen the US-UK friendship. The British government stated that US tech companies investment in the UK could help create more than 5,000 jobs.Sources said Russia and Ukraine have exchanged remains of the victims, with Moscow returning 1,000 bodies to Kyiv and Ukraine handing over 24.On September 18th, TD Securities strategists wrote in a report that the slight decline in the British pound following the Bank of Englands decision to hold interest rates steady likely reflects the unchanged language of its forward guidance. The Bank of England reiterated that a "gradual and cautious" approach to future rate cuts remains appropriate, with subsequent decisions dependent on economic data. The strategists noted that this further reinforces the view that another Bank of England rate cut remains possible this year, with TD Securities predicting a November cut. They suggest that the British pound may decline against the euro ahead of the UKs Autumn Budget in November, but given that the Federal Reserve resumed rate cuts on Wednesday, further downside for the British pound against the US dollar is unlikely.

US Fed Considering CBDC, But Not Decided To Pursue or Implement

Cory Russell

Apr 15, 2022 10:40

The Federal Reserve of the United States has said that it is exploring creating a central bank digital currency (CBDC). The central bank has not yet determined whether or not to pursue or deploy a digital dollar, according to the central bank.


The Fed, on the other hand, has already issued a CBDC report emphasizing the use of stablecoins like USD Coin and Tether; the statement on Thursday is the most important to date.

Fed Exploring CBDC “Benefits and Risks”

In a tweet today, the authority said that it is looking into the possible advantages and hazards of CBDCs.


It has also produced a series of CBDC FAQs, explaining why it is contemplating it now. Given technology improvements ushering in a rush of new private-sector financial goods and services, the Fed believes it is the "appropriate moment" to examine a digital dollar.


CBDCs, according to the bank, might provide a variety of advantages. A digital dollar, for example, might give consumers and businesses a simple, electronic version of central bank money, as well as a platform for entrepreneurs to develop new financial goods and services and promote quicker and cheaper payments.

Lawmakers Critical of Fed’s Progress

US legislators questioned Fed Chair Jerome Powell in January on the pace and status of the Fed's CBDC review, which was set to be released last summer.


Fed Governor Christopher Waller stated last month that he isn't sure that a CBDC is necessary for retail consumers in particular.


"Are we actually in need of it?" That is something I have yet to be persuaded of. It's not to say I couldn't be, but I've never seen that on a retail CBDC."


Tom Emmer, a Minnesota politician, sponsored a measure in January to restrict the Fed from exercising unilateral authority over the US CBDC. The lawmaker wants the central bank to be prohibited from issuing digital dollars to people directly.