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Wall Street Says a Fed Digital Dollar Spells Destruction for Banks

The U.S. Federal Reserve is considering whether to launch a CBDC like other nations, and bankers argue that’s a dangerous idea.

Bankers are warning the Federal Reserve board about the dangers of launching a digital dollar, at a time when several new members were sworn in this week. (Drew Angerer/Getty Images)
Bankers are warning the Federal Reserve board about the dangers of launching a digital dollar, at a time when several new members were sworn in this week. (Drew Angerer/Getty Images)