The president of the Federal Reserve Bank of Minneapolis doubled down on his call for stiffer capital requirements and said master account access decisions should stay with the regional Fed banks.
While skeptics still outnumber true believers, recent speeches and reports from policymakers show a greater willingness to entertain the idea of a central bank digital currency.
Chairwoman Waters, Ranking Member McHenry, The American Bankers Association (ABA) appreciate the opportunity to submit a statement for the record for the hearing titled “Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency.”
Former Federal Reserve Vice Chair for Supervision Randal Quarles and former Fed Gov. Daniel Tarullo say the central bank's top regulatory role insulates the board from allegations of political bias. Otherwise, the agency and its staff have to account for their regulatory decisions.