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Vice Chair Brainard is at it again. She is out making the rounds. It appears her task is to promote FedNow which she is discussing regularly. This is leading some to believe the Fed is going to jump into a CBDC with this. That is not what the system does.
In this video I discuss how the Fed is against a CBDC. The Vice Chair is echoing the sentiments publicly expressed by Chair Powell and Governor Wallet. FedNow is going to be an instant payment system which is a huge step forward. However, it will go through the existing banking system.
Here is the article discussed in the video:
https://www.theblock.co/post/168366/fed-needs-to-answer-key-questions-around-digital-dollar-brainard
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