Ms. Brainard is a vocal advocate for a Fed-issued CBDC (“Central Bank Digital Currency”). China has rolled out its CBDC and the public is about to hear more about it during February’s Beijing Winter Olympics. Thus, while the consensus is that President Biden will soon reappoint Jerome Powell to begin his next term as Federal Reserve Chairman in February 2022, we believe it is a 50/50 Powell/Brainard split. Mr. Biden may very well name Ms. Brainard as the next Fed Chair should he view a Fed-issued digital currency as highly strategic and in the nation’s best interest.
As we wrote previously, a Fed-issued digital currency would immediately make the Federal Reserve a competitor to the U.S. Banking industry. A digital U.S. Dollar would enable the Fed to have a direct depository relationship with every American. We believe that Mr. Powell – who hasn’t been a vocal advocate for a digital Dollar – is an easier target for powerful Banking industry lobbyists than is Ms. Brainard. Read Ms. Brainard’s biography HERE.
Related TEK2day reports and articles:
- ARTICLE: The Fed’s Digital Dollar Will Remake The Capital Markets
- ARTICLE: Leveraging The Fed’s Digital Dollar
- ARTICLE: The Fed & Treasury Are Clearing The Runway For The Digital Dollar
- ARTICLE: A Digital Dollar Is Coming
- REPORT: Bank & FinTech Consolidation to Continue. Central Banks as Disruptors.