Essentially, the Fed is proposing creating a hybrid digital legal tender unlike reserves which are stuck within the financial system, and which it can deposit directly into US consumer accounts. In short, as we summarized "The Fed Is Planning To Send Money Directly To Americans In The Next Crisis", something we reminded readers of on Monday:-
Learn More:
https://www.zerohedge.com/markets/loretta-mester-hints-fed-preparing-deposit-digital-dollars-directly-each-american
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