Bostic on central bank digital currencies

  • Central banks would need to figure out how to create a digital currency with a secure and predictable value
  • In the US, many people would be upset by the notion that the Fed could track how they use their funds

I don't understand how creating a predictable value is a challenge. Just tie it to the US dollar 1:1. That's the least-difficult problem to solve.

In terms of privacy, what I think happens is that there are strong initial controls that are eroded over time.