Fed Would Need Approval From Lawmakers to Issue CBDC, Logan Says

The Federal Reserve would need approval from the executive branch and Congress before issuing a digital currency, said Dallas Fed President Lorie Logan.

• “Some central banks are experimenting with CBDC,” Logan says. “In the US, no decision has been made about whether to create a CBDC and the Federal Reserve has indicated that issuance of a CBDC would need clear support from the executive branch and Congress”
• Logan gave the opening remarks Tuesday at a conference about technology-enabled disruption at the Atlanta Fed
• Further research is needed about the risks and benefits of a CBDC, Logan says
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