Powell: A lot of work has been done on exploring central bank digital currencies

On June 23, Fed Chairman Powell said that we have done a lot of work in exploring central bank digital currencies. We should be exploring this issue on behalf of the nation, and we plan to do policy and technical work on central bank digital currencies over the next few years and make recommendations to Congress. He also mentioned that the people suffer from high inflation. In hindsight, the Fed underestimated inflation. The Fed’s intention is to achieve a soft landing. The Fed’s commitment to fighting inflation is unconditional.