Summary
- Kevin Warsh, Trump’s nominee to chair the Fed, expressed a negative view of a central bank digital currency (CBDC).
- Warsh said the Fed does not have the authority to issue a CBDC and stressed that he would not pursue CBDC adoption even if he had that authority as chair.
- Markets are watching how the next Fed leadership’s digital currency policy could affect the financial system and the cryptocurrency market.
Forecast Trend Report by Period
Kevin Warsh, President Donald Trump’s nominee to chair the Federal Reserve, signaled opposition to a central bank digital currency, drawing a clear line on the policy issue.
Eleanor Terrett, host of Crypto in America, reported on April 21 that Warsh said the Fed lacks the authority to issue a CBDC.
Even if he had the power to do so as chair, Warsh said he would not push to introduce one. He called it the wrong policy choice.
The comments come as debate over a US CBDC continues. They also underscore broader questions about the Fed’s role and the limits of its authority.
Markets are watching how the next Fed leadership’s digital-currency policy could affect the financial system and the cryptocurrency market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
