Fed Chair Announces CBDC Unlikely to Be Implemented in the US Soon

On the second day of testimony in front of congressmen, Fed chair Jerome Powell said that the central bank digital currency (CBDC) might not be on the cards right now. According to Bloomberg, the Fed chair promised lawmakers that the Fed would never follow a system that would let the central bank see what people are doing with their money and stated that a digital version of the currency is a long way off.