Fed Chairman: China has not officially started creating digital dollars, China's new crown virus could hurt global economy

Author: Xiu MU

Source: Tweet bitpush.news

Federal Reserve Chairman Jerome Powell attended a hearing on the House Financial Services Committee on Tuesday, saying that the Fed has not yet officially started creating or issuing digital dollars, and China's new coronavirus outbreak could hurt the global economy.

According to CNN, he spoke at the hearing about the central bank, the social media giant Facebook's Libra crypto project, and China's efforts in digital currencies. Asked about U.S. progress in central bank digital currencies, Powell said, "We are working on this, we are working on many projects, and we are now working on it."

He also mentioned that a large technology network like Libra could spread widely and play a significant role fairly quickly, but the Fed has not yet officially started creating or issuing digital dollars.

He said, "We have not decided to do so. Not only in the United States, there are many questions around digital currencies that need to be answered, including network issues, privacy issues, and alternative ways of operating. So we will continue to work in a responsible manner this work."

At the hearing, he was also asked about the possible impact of a new coronavirus outbreak in China. "We know there may be some impact on the United States," he said. He believes that the new coronavirus could cause chaos in China and spread to other economies around the world.

On Wednesday, he will also attend a hearing on the Senate Banking Committee again at 10 am EST.

Reprint must indicate the source.

Disclaimer: All articles in Bibei represent the views of the author and do not constitute investment advice. Investment has risks and consequences.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Does the DeFi market have no ceiling? How to introduce quality assets is the key

On July 25th, the "DeFi Feature Series" initiated by a chain community, DeFi Lab, DOS Network, and Hydro st...


Fade out and rise of an old Defi project

Editor's Note: Original title was "Kyber's Fade Out and Rise" In the DeFi project, the previous a...


Kyberswap was hacked for $48 million, but the drama-loving hackers took the initiative to negotiate.

Hacker left a message on the chain I'll take a break and we'll chat later. Original author Loopy Lu. On November 23rd...


KyberSwap Hack: Funds Stolen in Million-Dollar Exchange Adventure!

Major security breach at KyberSwap - $48 million stolen, investors urged to withdraw funds immediately. Hackers hint ...


KyberSwap Breached in $46 Million Hack Thanks to 'Infinite Money Glitch' A Heist for the Modern Age!

Fashionista, take note Doug Colkitt has revealed that the recent KyberSwap hack saw an intricate and well-planned app...


The $47 Million KyberSwap Hacker Plots Surprising Proposal in Upcoming Announcement

KyberSwap hacker announces potential deal following $47 million heist last week.