Fed’s Waller Denounces Digital Dollar

The U.S. Federal Reserve Board Governor Christopher Waller is against recent moves to explore the establishment of a digital Dollar.

Waller acknowledged the growing interest from central banks towards digital currencies but said that he remains skeptical that a digital Dollar would solve any major problem confronting the U.S. payment system.

Speaking in a virtual event by the American Enterprise Institute on Thursday, Waller said a digital Dollar would be a problem, not a solution.

He believes it would serve a fraction of the population, calling for promoting financial inclusion by encouraging widespread use of low-cost commercial bank accounts.