US Treasury Secretary Yellen Weighing Pros and Cons of CBDCs
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Speaking to Reuters<\/a> on Thursday, U.S. Secretary of the Treasury Janet Yellen reveals that she still has to make up her mind whether the United States should implement a central bank digital currency (CBDC) or not.<\/p>\n Yellen said that she is still waiting on the Federal Reserve\u2019s extensive evaluation of CBDCs which Chairman Jerome Powell promised to be ready \u201cvery soon\u201d.<\/p>\n On a personal note, the Treasury secretary believes there are pros and cons to the implementation of a CBDC and said:<\/p>\n \u201cThere are some benefits, but there are also meaningful costs. \u00a0It can work to disintermediate the banking system, and we need to work through the pros and cons. I don\u2019t have a view yet.\u201d<\/p>\n<\/blockquote>\n Whatever the Fed\u2019s report on CBDCs highlights, Yellen noted, it would still \u201ccommand a consensus\u201d from various branches of the government:<\/p>\n \u201cI think it\u2019s important to understand what the Fed\u2019s view is. They agree this is a decision where we need to have consensus.<\/p>\n They will want to know what the administration\u2019s view is on this, and frankly, we haven\u2019t discussed this yet in a serious way in the White House. And Congress is going to weigh in on this too.\u201d<\/p>\n<\/blockquote>\n In the beginning of the year, Jerome Powell commented on CBDCs<\/a> and said that although the U.S. Central Bank is investigating it, there is no need to rush the process.<\/p>\n He said that there are some risks associated with CBDCs that will have to addressed, such as cybersecurity and financial stability. He also noted that he is not even sure at this time if there is enough support from the public or governments for a CBDCs.<\/p>\n In the interview with Reuters, Yellen confirmed to be happy on her job and that currently has no plans to leave Treasury any time soon:<\/p>\n \u201cI have no plans to leave this job.<\/p>\n I\u2019m enjoying it very much and we\u2019ve got a huge amount of important work to do, so I have no plans to leave Treasury any time soon.\u201d<\/p>\n<\/blockquote>\n The post US Treasury Secretary Yellen Weighing Pros and Cons of CBDCs<\/a> appeared first on iGaming.org<\/a>.<\/p>\n
US Treasury Secretary Yellen Weighing Pros and Cons of CBDCs
Speaking to Reuters on Thursday, U.S. Secretary of the Treasury Janet Yellen reveals that she still has to make up her mind whether the United States should implement a central bank digital currency (CBDC) or not. Yellen said that she is still waiting on the Federal Reserve\u2019s extensive evaluation of CBDCs which Chairman Jerome Powell promised to be ready \u201cvery soon\u201d. On a personal note, the Treasury secretary believes there are pros and cons to the implementation of a CBDC and said: \u201cThere are some benefits, but there are <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[13],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6D2Px-td7","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/112289"}],"collection":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/comments?post=112289"}],"version-history":[{"count":1,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/112289\/revisions"}],"predecessor-version":[{"id":112290,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/posts\/112289\/revisions\/112290"}],"wp:attachment":[{"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/media?parent=112289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/categories?post=112289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.i-conseils.fr\/index.php\/wp-json\/wp\/v2\/tags?post=112289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nSource: igaming<\/p>\n","protected":false},"excerpt":{"rendered":"