FILE Image: Dallas Federal Reserve Financial institution President Robert Kaplan speaks throughout an interview in his office at the bank’s headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/ Ann Saphir

August 20, 2021

(Reuters) – Dallas Federal Reserve President Robert Kaplan reported on Friday he could see the U.S. central financial institution inevitably issuing its possess digital forex, calling it the “last mile” in a digitalization of the payment procedure that is by now in prepare.

“I would think about in the yrs forward — it is one thing the Fed is actively operating on now — and I can see causes why that will inevitably get produced China is presently executing their own experiment with it,” he stated in a digital look at Texas Tech. Even now, he additional, the Fed is a “long way” from building a selection and is presently finding out the concerns, like the potential influence on banking institutions.

(Reporting by Ann Saphir modifying by Jonathan Oatis)


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