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Fedcoin? The U.S. central bank is looking into it – Source Reuters Tech News

PALO ALTO, Calif. (Reuters) – The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.

Federal Reserve Governor Lael Brainard speaks with the Stanford University’s business school dean Jonathan Levin in Palo Alto, California, U.S. on February 5, 2020. REUTERS/Ann Saphir

Brainard’s remarks suggest more openness to the possibility of a Fed-issued digital coin than in the past.

“By transforming payments, digitalization has the potential to deliver greater value and convenience at lower cost,” Brainard said at a conference on payments at the Stanford Graduate School of Business. She did not touch on interest rates or the current economic outlook.

“But there are risks,” Brainard said, in a partial reprisal of her own and other global central bankers’ worries about the rise of private…

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Source Reuters Tech News

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