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Indias Commerce Secretary: India is working closely with the United States to reach a trade agreement.According to CNBC, the U.S. will begin withholding the wages of student loan borrowers in January.According to CNBC: The United States will begin withholding the wages of borrowers who default on student loans.Ukrainian President Zelensky: I spoke with European Commission President Ursula von der Leyen, and we discussed the importance of supporting Ukraine in strengthening its resilience and reinforcing our position at the negotiating table.On December 23, the Conference Boards Consumer Confidence Index fell to 89.1 in December; the Consumer Current Conditions Index plummeted to 116.8; and the Consumer Expectations Index remained stable at 70.7, but has now been below 80 for 11 consecutive months, a threshold considered a signal of impending recession. Dana M. Peterson, chief economist at the Conference Board, stated, "Despite an upward revision to Novembers data due to the end of the government shutdown, consumer confidence declined again in December, well below the peak in January. Four of the five components of the overall index declined, with one at a level indicating significant weakness." Peterson also noted that the economic factors consumers cited in their open-ended responses remained primarily focused on prices and inflation, tariffs and trade, and politics. However, the proportion of responses mentioning immigration, war, and personal finances increased in December. These responses continued to lean pessimistic, but to a lesser degree than in November, possibly due to reduced negative comments about prices and inflation, politics, and a rebound in positive responses regarding interest rates.

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.

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