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Yesterday, during the Senate Banking Committee hearing, in response to Senator Bernie Moreno, Jerome said that there will be no CBDC at least during his leadership at the Federal Reserve. ▶️ 1:54:02
Especially considering Trump’s is not a fan of Powell.
The concept of CBDC holds promise for maintaining global dominance. However, resistance to change is a significant challenge.
Over the past five to ten years, we are witnessing gradual adoption of digital payment platforms such as Google Wallet, Apple Pay, Bitcoin, and various other apps like Venmo. If CBDC was to be created, adoption will be slow.
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From the previous FED chairs: Janet Yellen, Alan Greenspan, Ben Bernanke, and Paul Volcker it seems like the tenures are shrinking and shrinking. Statistically unlikely that "under his leadership" will last for much longer.
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I thought the same thing; we just need to know how much longer he'll stay at the Federal Reserve.
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