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Fed’s Bowman doesn’t see case for U.S. central bank digital currency -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Michelle Bowman, the Governor of the U.S. Federal Reserve, makes her first public comments as a Fed policymaker, at an American Bankers Association conference held in San Diego (California), U.S.A, 02/11/2019 REUTERS/Ann Saphir

(Reuters) – Federal Reserve governor Michelle Bowman said Monday that given the efficiency and safety of U.S. payments, she does not see any reason why the Fed should issue a digital currency for its central bank.

Bowman admitted that “I don’t really know if I understand the business case” for the creation of it. Bowman noted that Fed currently is preparing a paper examining the pros, cons and implications of the issue to be used as a “conversation starter” This paper is expected to be published soon, she stated.

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