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Fed Chair Jerome Powell says central bank-backed digital currencies must coexist alongside cash and other forms of money

jerome powell fed mask

Summary List Placement

  • Fed Chairman Jerome Powell said potential central bank digital currencies must coexist with cash.
  • COVID-19 has brought forward the need to address the limitations of current payments, he said.
  • Achieving an improved payments system would require multiple stakeholders to collaborate, he said.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Federal Reserve Chairman Jerome Powell said on Thursday prospective digital currencies issued by central banks must accompany cash and other types of money within a flexible payment system.

“A recent report from the Bank for International Settlements and a group of details ⇒

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