Recent comments from Jerome Powell, the chairman of the United States Federal Reserve, show the American government is not especially concerned with speed when it comes to developing a central bank digital currency, or CBDC. In contrast, Morgan Creek Digital co-founder Anthony Pompliano argues that time is of the essence.
"They're talking about, like, maybe we'll build one in the next couple of years," Pompliano said of Powell's recent comments on CBDCs. "This is not a next-couple-of-years thing," Pomp said Monday on an episode of his YouTube show Lunch Money.
"This is a right-now thing, and if they don't act, the U.S. is going to fall really far behind China because it all comes down to accessibility."
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