JP Morgan says “don’t hold your breath” waiting for a Fed digital coin

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
    long shot.

LOL. Yes, yes it does.

Capitol Hill

Congress proposing raising the debt limit

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