According to RIA Novosti, he noted that the digital currency launched by the Central Bank of China "will not work."
“Chinese (currency) won't work,” Powell said.
He also said that the Fed should not rush to introduce the digital dollar, as it is more important to "do it right than do it quickly."
Earlier, the head of the department of corporate finance and corporate governance of the Financial University under the Russian government, Konstantin Ordov, in an interview with the Economics Today FBA, assessed the prospects for digital currencies.