Fed’s Bowman doesn’t see case for U.S. central bank digital currency

(Reuters) – Federal Reserve Governor Michelle Bowman on Monday said given the safety and efficiency of the U.S. payment system she doesn’t see much of a reason for the Fed to issue a U.S. central bank digital currency.

“I’m not really sure that I understand or see the business case for creating it,” Bowman said, noting that the Fed is currently putting together a paper looking at the pros and cons of the issue as a “conversation starter.” That paper should come out soon, she said.

(Reporting by Ann Saphir)