Fed’s Waller Says ‘Highly Skeptical’ on Need for Digital Dollar

Federal Reserve Governor Christopher Waller said that he welcomes a debate about the benefits of a central bank digital currency but made clear that he remains unpersuaded.

“As I have said before, I am highly skeptical of whether there is a compelling need for the Fed to create a digital currency,” he said Friday in prepared remarks to a symposium on digital currencies hosted by the Harvard National Security Journal. “To date, no decisions have been made by the Board on whether to move forward with a CBDC.”

The Fed issued a discussion paper on central bank digital currency in ...