In a recent development, President Trump and the Federal Reserve have reaffirmed their stances regarding the creation of a Central Bank Digital Currency (CBDC) for the United States. Despite the increasing global interest in digital currencies, the Trump administration and Federal Reserve Chair, Jerome Powell, have maintained their conservative stance, asserting that they do not see the immediate need for a digital dollar.
President Trump voiced his skepticism for cryptocurrencies in general, citing their potential use for illegal activities. On the other hand, Powell reinforced his belief that the Federal Reserve needs to get the digital dollar right, rather than being the first to launch. While other nations, like China, are fast-tracking their CBDC initiatives, the United States is opting for a more measured approach, prioritizing the security and efficiency of their potential digital currency.
