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Yellen Signals Interest in Backing Digital-Dollar Research

Feb. 22, 2021, 4:48 PM

Treasury Secretary Janet Yellen signaled the Biden administration supports research into the viability of a digital dollar, a shift from the lack of enthusiasm shown for the concept under her predecessor, Steven Mnuchin.

“It makes sense for central banks to be looking at” issuing sovereign digital currencies, Yellen said at a virtual conference on Monday hosted by the New York Times.

She said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

“Too many Americans don’t have access to easy payments systems and banking accounts, and I think this ...