Central banks are finally recognizing that a new era of digitalization is upon us. The ECB and the Fed in particular would be wise to push themselves to move more quickly than they might otherwise move—without compromising on due diligence and care. Meanwhile, banks and private payment-service providers should prepare their infrastructure and service offerings for a world with CBDC. And all of us should be following these developments very closely, because our economic future depends on this transition going well.
Read the complete article "It’s Time for Central Banks to Start Issuing Their Own Digital Currencies. Yes, Even the Fed" by Master in Finance faculty member Prof. Dr. Axel Wieandt in the latest issue of Kellogg Insight published by Kellogg School of Management at Northwestern University here.