General
Will the US Federal Reserve issue a Central Bank Digital Currency (CBDC) pilot or launch a digital dollar for commercial bank use before the end of 2028?
An economics prediction on the acceleration of US digital currency plans following the passage of federal stablecoin regulation (e.g., the GENIUS Act of 2025).
54 total votes
Analysis
Digital Dollar: Pilot by 2028?
Following the passage of comprehensive US stablecoin legislation in 2025, policymakers face renewed pressure to explore a digital dollar to maintain control over the monetary system. This prediction asks if the Federal Reserve will respond to the rise of regulated private stablecoins by launching a limited-use pilot, likely restricted to interbank or commercial settlements.
Political Resistance vs. Financial Stability
The vote is split because the technical feasibility of a CBDC exists ('Yes'), but the political resistance from Congress, particularly concerning privacy and surveillance, is fierce ('No'). The debate is whether the need to manage systemic risks posed by the regulated stablecoin market will outweigh the privacy concerns, forcing the Fed's hand to accelerate its own digital currency development efforts.