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In a speech to the Atlantic Council earlier this year, Undersecretary for Domestic Finance, Nellie Liang
announced that a rather robust “working group” had been formed to explore the development of a CBDC:
“In the coming months, leaders from Treasury, the Federal Reserve, and White House offices, including
the Council of Economic Advisors, National Economic Council, National Security Council, and Office
of Science and Technology Policy, will begin to meet regularly to discuss a possible CDBC and other
payments innovations. To support these discussions, the CBDC Working Group is developing an initial
set of findings and recommendations … Also, as recommended in the Treasury’s Report on the Future
of Money and Payments, the Federal Reserve is encouraged to provide periodic public updates as it
continues its research and technical experimentation on CBDCs.”4
4 https://home.treasury.gov/news/press-releases/jy1314
This multi-agency cooperation represents one of the broadest federal
efforts yet to adopt a Digital Dollar.