Analysis-U.S. Fed navigates policy minefield with impending digital dollar report

Published by
Reuters

By Jonnelle Marte and Michelle Price (Reuters) – The U.S. Federal Reserve board will soon issue a hotly-awaited report exploring the potential adoption of a digital dollar, but with its governors and other policymakers divided on the issue – and with so much at stake for the financial industry – the central bank will likely tread carefully. Worried that an explosion in cryptocurrencies could weaken their grasp on the economy, central banks from China to Europe are exploring issuing their own digital currencies (CBDCs), and the Fed is under growing pressure to catch up. Unlike cryptocurrencies …

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