The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Fed Chair Powell Issues Written Response on the US Dollar and the Digital Currency Race

by Daily Hodl Staff
November 21, 2019
in Regulators

Federal Reserve Chairman Jerome Powell has responded to lawmakers who have urged him to consider issuing a digital US dollar.

In a letter to Congress this week, Powell appears to weigh the pros and cons. He says he is both exploring the idea of a central bank digital currency (CBDC), although the Fed is not currently developing a CBDC, while also stating that he does not see the distinct advantages such a currency would have in the United States.

Two US Congressmen, French Hill and Bill Foster, wrote a letter in September urging the Fed to consider creating a national digital currency as the rise of crypto and projects like Facebook’s Libra threaten paper money.

They join a chorus of policymakers, including Philadelphia Federal Reserve Bank President Patrick Harker; former Chair of the Commodity Futures Trading Commission, J. Christopher Giancarlo, (CFTC); and former Chief Innovation Officer of the CFTC, Daniel Gorfine, who believe that the US government needs to consider a digital dollar – or risk getting left behind.

Writes Powell,

“The Federal Reserve is not currently developing a U.S. dollar central bank digital currency (CBDC), but continues to carefully evaluate the costs and benefits of issuing a general purpose CBDC, defined as a new type of Federal Reserve liability that could be held directly by households and businesses.”

Source: Zachary Warmbrodt/Politico via Twitter

[the_ad id="42537"] [the_ad id="42536"]
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • The Open Platform Is First Unicorn in Web 3.0 Ecosystem in Telegram at $1 Billion Valuation
    July 3, 2025
  • P2P.org Brings Native ETH Staking to Ledger Live Globally
    July 3, 2025
  • Cooking.City Bringing Back Value Redistribution to Solana Fair Launches
    July 3, 2025
  • Oasis Protocol Foundation Launches ROFL Mainnet – Verifiable Off-Chain Compute Framework Powering AI Applications
    July 2, 2025
  • Nexo Becomes First-Ever Digital Asset and Wealth Partner of the DP World Tour, Launches Nexo Golf Championship
    July 2, 2025
  • Number-One DeFi Protocol on Aptos, Echo, Launches Token Generation Event
    July 2, 2025
  • PrimeXBT Launches ‘Trade As VIP’ Campaign Offering 70% off Trading Fees
    July 1, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,249.00
$108,249.00
0.19%
Ethereum
$2,518.10
$2,518.10
0.37%
BNB
$656.08
$656.08
0.34%
Solana
$147.64
$147.64
0.08%
XRP
$2.22
$2.22
0.13%

Spotlight

  • 2,200,000 People Affected As Data Breach Hits Retail Grocery Giant – Names, Government IDs, Bank Account Numbers and Health Info Stolen
    June 28, 2025
  • Trader Says Bitcoin in a Transitional Period, Predicts BTC Could See Multiple Weeks of Upside if This Happens
    June 28, 2025
  • ‘If We Didn’t Have It, China Would’: Trump Expresses Support for US Crypto Industry, Dodges Question About His Personal Holdings
    June 28, 2025
  • $5,000 Payout Heading To Data Breach Victims After Insurance Incident Exposes ‘Highly Sensitive’ Information of 479,261 People
    June 28, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl