With expressions ranging from enthusiasm to serious interest, central banks from China to Europe have been actively exploring the potential for Central Bank Digital Currencies (CBDCs). On June 28, Federal Reserve Board Vice Chairman for Supervision Randal Quarles offered comments that, far from equivocal, expressed great doubt about the feasibility and desirability for the Federal Reserve sponsoring such a currency.

Controversies focus on CBDC implications for privacy, greater personal financial inclusion, government control of credit, innovation, government assumption of banking activities, broadening the tax base, and more.

Featuring:

-- Bert Ely, Principal, Ely & Co. Inc.

-- Chris Giancarlo, Senior Counsel, Willkie Farr & Gallagher

-- Peter C. Earle, Writer, American Institute for Economic Research

-- Moderator: Alex J. Pollock, Distinguished Senior Fellow, R. Street Institute

* * * * *

As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.