JUST IN - 🇺🇸 Fed Chair Powell: A Fed issued CBDC "is not something we support." If we did have one it would be intermediated by banks.
Discussion
Don’t they already have a cbdc intermediated by banks basically?
Proverb:
Loose lips sink ships.
He meant to say that it would be intermediated by the FED... on the FedNow network... that all banks (that had survived the purge) were subservient to.
So, now CBDC means commercial bank digital currency?