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Fed's Brainard: Can't wrap head around not having U.S. central bank digital currency

07/30/2021 | 09:17pm EDT

July 30 (Reuters) - Federal Reserve Governor Lael Brainard on Friday laid out a range of reasons for "urgency" around the issue of developing a U.S. central bank digital currency, including the fact that other countries such as China are moving ahead with their own.

"The dollar is very dominant in international payments, and if you have the other major jurisdictions in the world with a digital currency, a CBDC offering, and the U.S. doesn't have one, I just, I can't wrap my head around that," Brainard told the Aspen Institute Economic Strategy Group. "That just doesn't sound like a sustainable future to me." (Reporting by Ann Saphir; Editing by Sandra Maler)


ę Reuters 2021
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