Federal Reserve Board Governor Bowman: The Federal Reserve will not issue a CBDC without approval from Congress.

According to BlockBeats news on April 19th, Federal Reserve Board Member Bowman stated that she sees "some potential" for wholesale central bank digital currencies (CBDCs), but it is difficult to imagine a reason for using CBDCs outside of interbank and wholesale transactions. Some central banks have taken steps to explore the potential uses of CBDCs in their own countries. In the United States, discussions are ongoing, but the Federal Reserve will not issue a CBDC without approval from Congress. It is necessary to consider the potential impact of CBDCs on the banking industry. If the Federal Reserve is authorized and directed to implement a CBDC, we need to carefully consider how to design it together with private sector service providers to maintain the participation of financial institutions and minimize disruption to the financial system. Banks are skeptical about the benefits of introducing CBDCs and are concerned about the decentralization problem that CBDCs may bring. (Jin10)