Some members of the Federal Reserve are continuing to explore the launch of its own digital dollar, as the Federal Reserve Bank of Boston on Thursday unveiled its first attempt at designing an electronic form of cash.
The Boston bank’s research, conducted in a collaboration with the Massachusetts Institute of Technology, does not offer a recommendation about whether the Fed should create its own digital currency. The central bank’s leaders in Washington are in the process of collecting public feedback on that question now, and Federal Reserve Chair Jerome H. Powell said it will only proceed with congressional authorization.
