Federal Reserve Releases Long-Awaited Study of Digital Dollar, Exploring Pros and Cons of Much-Debated Issue

The Federal Reserve on Thursday released its long-awaited exploration of a digital dollar but took no position on the issuance of a central bank digital currency.

Instead, the central bank’s 40-page document explores a plethora of issue and notes that public comment will be solicited.

Fed Governor Lael Brainard, who has been nominated as vice chair, is the biggest advocate for the project, while other officials have expressed skepticism.