Fed’s Quarles says there is no case for a US CBDC
Central banks should not waste resource or risk “significant disruption” to the banking system
Federal Reserve board member Randal Quarles said he has yet to see a convincing case for issuing central bank digital currency (CBDC) in the US.
“Until somebody answers me the question why, I don’t understand why we would devote the enormous amount of resources and the technological risk and the significant disruption to the current operation of the financial system that would come from the central bank saying we are going to provide this digital currency,” he said on October 20.
Quarles, a
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