In a recent letter from US Congressman French Hill and Bill Foster to Federal Reserve Chairman Jerome Powell, they outlined concerns about the risks facing the dollar. It is said that the current dominant position of the US dollar in the world has been seriously threatened. The United States should not rely on private companies to develop digital currencies. The US Federal Reserve, as the central bank of the United States, has the ability and responsibility to develop a national-level digital currency. The letter specifically mentions Facebook, JP Morgan Chase and Wells Fargo's recent efforts in cryptocurrency. With the rapid development of digital currency, the gap between it and the French currency is rapidly shrinking, and the possibility of the Fed putting the development of national digital currency on the agenda is rising rapidly.