Fed’s Waller maintains skepticism on U.S. digital currency

There is currently no credible case for the United States to develop an official digital version of the dollar, Federal Reserve Governor Christopher Waller said on Thursday, keeping to his long-held skeptical view amid debate at the U.S. central bank.

“The case for adopting one is not yet convincing to me and many others,” Waller said during an event at Queensland University of Technology in Brisbane, Australia. He has repeatedly referred to it as a solution in search of a problem.

Fed policymakers remain divided on the need for a central bank digital currency, with Fed Vice Chair Lael Brainard, second in command at the Fed, among those expressing support.

Regardless, the Fed has indicated it would not launch one without clear support from the White House and lawmakers.