Fed is in Search of a Digital Innovations Policy Program Manager

The Fed is in search of a Digital Innovations Policy Program Manager for stable cryptocurrency and CBDCs.

The Fed is looking for a Digital Innovations Policy Program Manager. The US Federal Reserve (Fed) is looking for an executive who can evaluate the pros and cons of stable cryptocurrencies and central bank digital currencies. The job posting shared on LinkedIn includes statements that the person sought for a manager position is expected to be capable of investigating the changing nature of money and payment platforms in the ever-growing digital markets and the benefits and risks associated with digital assets such as stable cryptocurrencies and central bank coins. In addition, a manager is sought to deal with the impact of digital innovations on the activities and oversight of financial services, emerging payment platforms, their functioning, and the supervisory and regulatory framework of their institutions. Jerome Powell, President of the US Federal Reserve (Fed), who participated in an event at Princeton University in the past weeks and made a statement, stated that the bank has made large investments to adopt the technology and to evaluate the policy questions that come with central bank digital currencies (CBDCs). Powell said, “We don't feel the need to be the first. We already have a first mover advantage because we are the reserve currency.” about issuing a digital currency at the same event. Fed Chairman Jerome Powell believes that digital currencies can complement the current system.