The use of Central Bank Digital Currencies (CBDC) poses considerable risks to the privacy of Americans, potentially even limiting how citizens can use their own money, Federal Reserve Governor Michelle W. Bowman warned during a recent speech.
“In my view, safeguarding privacy is a top concern and is also often identified as a top concern of consumers and other stakeholders,” Bowman said in her April 18 speech at the Psaros Center for Financial Markets and Policy, part of Georgetown University’s McDonough School of Business in Washington.
“In thinking about the implications of CBDC and privacy, we must also consider the central role that money plays in our daily lives, and the risk that a CBDC would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested,” said Bowman….