Former President Trump pledged to prevent the creation of a central bank digital currency (CBDC), labeling it a "dangerous threat to freedom" that could lead to government control over personal finances. While President Biden has expressed interest in exploring a CBDC, Fed Chair Jerome Powell stated no firm decisions have been made and congressional approval would be required. The idea of a digital dollar has faced strong opposition from Republicans, with Florida Governor Ron DeSantis banning CBDCs in Florida, citing concerns over government surveillance and control.

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