Insight - Who gets left holding the digital-dollar fad?

Digital path: A cyclist rides past the Federal Reserve building in Washington. The Fed discussion paper will give a clearer hint of whether the US intends to issue a paperless version of the world’s most popular currency. — Bloomberg

IS the idea of a digital dollar just a fad – like the 1980s craze with parachute pants that became synonymous with Michael Jackson and M.C. Hammer?

Randal Quarles, the Federal Reserve’s vice-chair for supervision, recently used that very imagery to express his skepticism. He wasn’t trying to prejudge the monetary authority’s thinking, which will soon be outlined in an eagerly awaited discussion paper on a so-called FedCoin.