Board of Governors of the Federal Reserve System

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2022-01-20 19:30:01

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

Monetary Policy Principles and Practice

Review of Monetary Policy Strategy, Tools, and Communications

Banking Applications & Legal Developments

Reserve Bank Payment Services & Data

Financial Market Utilities & Infrastructures

This paper examines the pros and cons of a potential U.S. central bank digital currency, or CBDC, and is the first step in a discussion of whether and how a CBDC could improve the safe and efficient domestic payments system. Money and Payments: The U.S. Dollar in the Age of Digital Transformation (PDF) invites comment from the public. Importantly, the paper does not favor any policy outcome.

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