This is no surprise, not for the USD.
Powell said the digital dollar will have to coexist with cash. That is because more than 60% of USD are held outside the United States. There is no way the USD is going to get rid of that.
Tell that to the ones online who espouse the idea that cash (USD) will be wiped out.
https://decrypt.co/61977/cbdcs-should-exist-alongside-cash-fed-chairman
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I saw this article earlier and I saw this coming. The Fed doesn't want to let go of the dollar and plans to make sure their power stays there as long as possible.
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I think Powell sees what some other bankers are starting to see. If they go full CBDC, it benefits the government, not the CB. In fact, what need is there for the central bank if there is a CBDC?
Makes them nonrelevant.
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Yes I agree but I thought the banks would jump ahead first with their own crypto or stablecoin first. I don't which will come first but it will definitely push the masses towards crypto adoption.
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