Jerome Powell stated that he will not pursue the issuance of a central bank digital currency (CBDC) while serving as chair of the Federal Reserve. His term is set to continue until May 2026, which ensures no digital dollar will be launched during this period.

The Senate Banking Committee discussed monetary policies, highlighting pressures on banks to limit services for crypto firms. Republican lawmakers are focusing on halting the establishment of a US dollar-pegged CBDC, with an anti-CBDC bill already passed in the House, currently pending in the Senate.