Fed Rejects CBDC After Trump Ban, as Global Digital Currency Plans Stall

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'In his crosshairs': Fed 'on a crash course with Trump Administration'

The Federal Reserve is “potentially on a crash course with the Trump Administration,” CNN political commentator Catherine Rampell said Tuesday.Rampell was speaking with CNN’s Jake Tapper about Fed Chair Jerome Powell’s testimony before the Senate Banking Committee, which Tapper noted is “part of [Powell’s] semiannual report.” During the hearing, Powell was asked about a December post by Department of Government Efficiency (DOGE) head Elon Musk t…

The Epoch Times

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Fed Rejects CBDC After Trump Ban, as Global Digital Currency Plans Stall

The Federal Reserve will never adopt a central bank digital currency (CBDC), the U.S. central bank’s chairman, Jerome Powell, confirmed on Tuesday to lawmakers on Capitol Hill. Powell’s pledge follows President Donald Trump’s recent executive order barring federal agencies from developing a digital dollar and comes amid a broader slowdown in CBDC adoption by central banks worldwide. Testifying before the Senate Banking Committee on Feb. 11, Powe…

moneyradar.org

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Abstract: Jerome Powell, President of the Fed, formally commits not to create a digital central bank currency (CBDC) as long as he is in office This position marks a major shift in the Fed's thinking about the creation of a CBDC The decision is aligned with Donald Trump's campaign promise to block any US CBDC project The CBDC critics, including the Cato Institute, welcome this decision, pointing to the risks to privacy and financial freedoms The…

Bitcoinist

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Could Bitcoin Hit $250K as Fed Chair Says No to CBDCs?

Federal Reserve (Fed) Chair Jerome Powell said the US won’t roll out a CBDC (Central Bank Digital Currency) so long as he’s in charge. Crypto advocates exhaled in relief. President Trump is also strongly against CBDCs – at the end of January, he banned the ‘digital dollar’ development. Ultimately, this gives Bitcoin ($BTC) and altcoins another four years (at least) to mature and gain mainstream adoption. Why the US Doesn’t Need a Digital Dollar …

CryptoPotato

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Fed Chair Jerome Powell Says No To US CBDC

Federal Reserve Chair Jerome Powell has made it clear that the United States will not introduce a Central Bank Digital Currency (CBDC) during his tenure.  This stance marks a notable shift from earlier considerations where the Federal Reserve had been exploring the potential of a digital dollar. No CBDC For The United States, Powell Confirms This declaration came during a recent Senate Banking Committee hearing on Tuesday when Powell responded t…

Business Insider (Spain)

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Federal Reserve President Jerome Powell answers questions from senators and congressmen at the Capitol.