FedDollar is years away

FedDollar is years away. U.S. Federal Reserve Chairman Jerome Powell confirmed the delay, saying it will take "years rather than months" before the Fed releases any CBDC.


  • At an online event hosted by Princeton University, Jerome Powell said, "We don't feel an urge or need to be first."
  • In Powell's view, CBDCs could "become systemically important overnight." 
  • Indeed, by early morning on Sept. 17, 2019, the secured overnight financing rate reached $1.18T, an increase of $20B from the previous day, causing a near-collapse of the overnight repo market that could have bankrupted many of the world's banks within 24 hours.
  • That morning at 9:30 a.m., the Fed added $53B in additional reserves using unique tools to the USD to prevent the collapse of the global financial system.