Brainard says Fed assessing opportunities and challenges in digital FX

Comments from Brainard at at fintech event

• Fed not decided it it will considering issuing digital currency
• Fed collaborating with MIT on hypothetical digital FX
• Need significant process to consider digital FX issue

The temptation of a digital currency is going to prove extremely strong in the long-term because it will provide so much data and the possibility to tax or use negative rates.