Federal Reserve Chairman Jerome Powell takes his seat to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., July 15, 2021. REUTERS/Kevin Lamarque
(Reuters) - Federal Reserve Chair Jerome Powell on Thursday said he had not made up his own mind on the pros and cons of a central bank digital currency, but he would want authorization from Congress before taking any action to create one.
"I am legitimately undecided on whether the benefits outweigh the costs or vice versa," Powell said during a hearing before the Senate Banking Committee when asked to clarify his position on what is emerging as a thorny issue for the U.S. central bank.
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