An emerging consensus on the U.S. dollar: Figure out how to fix it now in case it breaks later

Quick Take

  • An official from the Boston Fed and the former head of the Commodity Futures Trading Commission offered similar arguments this week as to why the U.S. should be prepared to issue a central bank digital currency if necessary
  • For instance, if a foreign digital currency were to challenge the dollar’s position as the world’s reserve currency, U.S. policymakers might have to respond with a digital version of the dollar

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