The Interchange: What a difference a week makes

Last week, I wrote about Federal Reserve Governor Brainard's announcement of bringing a core set of FedNow features to the market "expeditiously," while also noting the curious omission of any discussion of digital dollars or CBDCs. I even went as far as to suggest the lack of any mention or acknowledgement of digital dollar proposals (there have been 3! separate U.S. congressional hearings in the past 2 months discussing them) may underscore the indifference that the Fed has towards central bank digital currencies:

Well it turns out Brainard DID have something to say about CBDCs, enough to where it deserved its own press conference titled: "An Update on Digital Currencies"