In a prepared statement for the Annual Utah Bankers Association Convention Monday, Quarles said that foreign currencies — whether fiat or digital — would be unlikely to challenge the U.S. dollar’s role in the global economy. He cited the size of the U.S. economy, trade relationships with other nations, and “credible U.S. monetary policy” as reasons he believed even a central bank digital currency, or CBDC, issued abroad would pose little risk.
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Source: Cryptocurrency - investing.com
