Fed’s Waller Repeats His Skepticism of Fed-Issued Digital Dollar

Federal Reserve Governor Christopher Wallersays he doesn’t see “the value proposition” of a central bank digital currency for the US.

• “What is the major market failure in the current US payment system that a CBDC and only a CBDC can solve,” he says in Q&A after a speech at a crypto conference, adding he’s asked the question for more than a year and “it has not been answered yet”
• He says it may make sense for a country that lacks a well-developed and stable financial system
• NOTE: The Fed in January published a white paper on central bank digital ...