Jerome Powell stated that the U.S. will not issue a central bank digital currency (CBDC) under his leadership. This statement makes it impossible to follow China's example 💵

During a Senate hearing, Jerome Powell, the Chairman of the U.S. Federal Reserve, stated that the U.S. will not issue a central bank digital currency (CBDC) under his leadership. When asked by Senator Bernie Moreno, Powell responded "yes," emphasizing that this excludes the possibility of following China's example. This position contradicts previous statements from the Fed regarding the potential launch of a CBDC. Critics are concerned that such currencies could become a tool for surveillance, unlike traditional cash. The issue is becoming more relevant in the U.S., especially among Republicans who oppose the CBDC.