Summary
TLDR: Federal Reserve Chair Powell emphasizes that the U.S. government would never have access to all financial transactions like in China’s digital currency system.
Key Points
1. Federal Reserve Chairman Jerome Powell emphasized that the U.S. government would not support a digital currency system where all transactions could be monitored by the government.
2. Powell highlighted the difference in approach between the United States and China, where the government has the ability to track user activity in their digital currency system.
3. The stance taken by Powell reflects the importance of privacy and financial freedom in the United States, where individuals’ transactions are not subject to government surveillance.