JP Morgan remarks on the Fed’s release of its report on the prospects for the Fed creating its own central bank digital currency (CBDC).
- The report went through the usual list of costs and benefits of a CBDC and concluded with no recommendation for immediate action.
- However, it was noted that the Fed would only issue a CBDC with “clear support from the executive branch and from Congress, ideally in the form of a specific authorizing law.”
- In the current political environment, that seems like a
LOL. Yes, yes it does.