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On Monday, February 9th, the German DAX 30 index closed up 284.52 points, or 1.15%, at 25004.32; the UK FTSE 100 index closed up 15.84 points, or 0.15%, at 10385.59; the French CAC 40 index closed up 49.44 points, or 0.60%, at 8323.28; the Euro Stoxx 50 index closed up 60.96 points, or 1.02%, at 6059.36; the Spanish IBEX 35 index closed up 244.61 points, or 1.36%, at 18187.91; and the Italian FTSE MIB index closed up 923.30 points, or 2.01%, at 46800.50.February 10th - European Central Bank (ECB) Governing Council member Jean-Claude Nagel stated that the ECBs current policy interest rate is at an appropriate level, and inflation, after a brief dip, is expected to stabilize near the 2% target. The ECB unanimously decided last week to keep its main interest rate unchanged at 2%, but some policymakers remained concerned that inflation, which had slowed to 1.7% last month, might weaken further, forcing the Eurozone central bank to take action. Nagel stated that the ECB would only intervene if medium-term inflation expectations deviated "persistently and significantly" from the target, but this does not appear to be the case at present. He said, "Several factors suggest that the current interest rate level is appropriate. First, the (inflation) below target is short-term and limited in magnitude; in the medium term, inflation remains at our target level." He added that long-term inflation expectations are "firmly anchored," and core inflation indicators support this assessment, as does the latest update to the ECBs December forecasts.The US 3-month Treasury auction ended February 9th with a winning yield of 3.6%, compared to 3.60% previously.The bid-to-cover ratio for the US 3-month Treasury bond auction as of February 9 was 2.76, compared to 2.81 previously.The US auction of 6-month Treasury bonds ending February 9th yielded a winning bid of 3.5%, compared to 3.53% previously.

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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