Questions of CBDC Cronyism Arise As Fed Launches Pilot

Early in November, the Federal Reserve (Fed) launched the next phase of its CBDC development: a 12‐​week pilot program with the nation’s largest banks. Although the Fed has yet to receive authorizing legislation from Congress or an executive order from the Biden administration, the pilot, alongside the Boston Fed’s Project Hamilton, marks another step closer to the issuance of a CBDC in the United States. Read Full Article »