Bonds News

Fed's Mester says she is open minded on potential central bank digital currency

NEW YORK, Sept 24 (Reuters) - Cleveland Federal Reserve Bank President Loretta Mester said she is open minded on the potential for having a U.S. central bank digital currency, adding that she wants policymakers to think through how the move could affect financial stability and the banking system.

“I’m actually at this point open minded,” Mester said during an event organized by the Ohio Bankers League. A discussion paper on the topic due to be released soon by Fed will lay out the costs and benefits and invite the public to comment, Mester said, adding that it will be important to generate broad consensus from the public and the government before moving forward.

Reporting by Jonnelle Marte