Yellen says in a new interview with Reuters that she is waiting for the Federal Reserve to issue a CBDC assessment.
She notes that Fed Chairman Jerome Powell has promised the report will be produced “very soon.”
As for her personal views on the matter, the Treasury Secretary says she sees both advantages and disadvantages of implementing a CBDC.
“There are some benefits, but there are also significant costs… It can help disintermediate the banking system, and we need to analyze the pros and cons. I have no sight yet.
Yellen notes that anything decided on CBDCs will have to “order consensus” from various branches of the US government.
“I think it’s important to understand what the Fed’s point of view is – they agree that this is a decision which is one where we need to have consensus.
They’ll want to know the administration’s perspective on this, and frankly, we haven’t seriously discussed this in the White House yet. And Congress will also weigh in on this. “
Powell said this summer he is focusing on execution rather than speed when it comes to developing a CBDC.
Yellen told Reuters she has no plans to leave the Treasury anytime soon.
“I have no intention of quitting this job.
I appreciate it very much and we have a tremendous amount of important work to do, so I have no plans to leave the treasury anytime soon.
Check the price
Don’t Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox
follow us on Twitter, Facebook and Telegram
Surf the daily Hodl Mix
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
Image en vedette : Shutterstock/Sergei Loginov