{"id":45153,"date":"2021-06-29T11:43:58","date_gmt":"2021-06-29T08:43:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45153"},"modified":"2025-08-31T20:24:00","modified_gmt":"2025-08-31T17:24:00","slug":"new-york-fed-chief-cbdcs-pose-challenges-for-central-banks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/new-york-fed-chief-cbdcs-pose-challenges-for-central-banks\/","title":{"rendered":"New York Fed chief: CBDCs pose challenges for central banks"},"content":{"rendered":"<p>The potential launch of national digital currencies (CBDCs) presents a challenge to central banks. This view was voiced by New York Fed President John Williams, according to <a href=\"https:\/\/www.reuters.com\/business\/ny-feds-williams-says-major-questions-need-addressed-digital-currencies-emerge-2021-06-28\/\">Reuters<\/a>.<\/p>\n<p>The official warned of serious questions for the existing regulatory framework. He says that before issuing a CBDC it is necessary to determine how the digital form of the national currency will operate alongside cash.<\/p>\n<p>In May, Federal Reserve Board member <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> Lael Brainard <a href=\"https:\/\/u1f987.com\/en\/news\/fed-us-must-play-a-vital-role-in-setting-cbdc-standards\">noted<\/a> that it is vital for the United States to participate in setting CBDC standards.<\/p>\n<p>In April, Federal Reserve Chair Jerome Powell <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-signals-possibility-of-issuing-a-digital-dollar\">stated the possibility of issuing<\/a> a national digital currency. He emphasised that it is important to do this correctly, rather than compete with other countries.<\/p>\n<p>Earlier in the summer of 2021, the Fed <a href=\"https:\/\/u1f987.com\/en\/news\/fed-to-publish-document-on-potential-cbdc-issuance\">will publish<\/a> a discussion paper, which will complement the earlier research on the advisability of creating CBDCs.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The potential rollout of national digital currencies (CBDCs) poses a challenge to central banks. This view was voiced by New York Fed President John Williams, according to Reuters.<\/p>\n","protected":false},"author":1,"featured_media":45154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1334,1249,36,26],"class_list":["post-45153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-digital-dollar","tag-federal-reserve-system","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=45153"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45153\/revisions"}],"predecessor-version":[{"id":45155,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45153\/revisions\/45155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/45154"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=45153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=45153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=45153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}