Say Hello to Your New Local Bank—The Fed

BKC affiliate Patrick Murck on why newly introduced bills creating a U.S. “Digital Dollar” as part of the coronavirus stimulus package would radically upend the banking and payments system we rely on today:

“The solution to Congress’ problem, a problem that many of us share, does not have to disrupt the fundamental nature of our modern financial system,” writes Murck. “Rather we can leverage and enhance public sector oversight to unlock further innovation in the private sector and get our money moving again for the people who need it.”

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