central bank digital currencies (CBDCs)

The House of Representatives passes a bill today that bars the Federal Reserve from issuing a digital currency, a measure that has been largely symbolic but underscores ongoing political debates surrounding financial innovation and government control. The legislation passes almost entirely along partisan lines, with Republican members voting in favor and Democrats largely opposing the bill.

The bill's passage reflects growing concerns among Republicans about the potential implications of a digital dollar. Despite the Federal Reserve having no current plans to issue a digital currency and having stated. . .