By Matthew Makowski The idea of a “digital dollar” first gained traction as the markets began to roil from the COVID-19 outbreak. The Dow Jones Industrial Average experienced record losses in March 2020. Small businesses were already feeling the squeeze. And unemployment claims were rising at a breakneck pace.
The deadly effects of the virus had yet to unfold. But it had already left a crater in the U.S. economy. Meanwhile, the country looked to Congress for agreement on a massive stimulus package. One of those proposals included mention of a digital dollar.
Chairwoman of the House Financial Services Committee Maxine Waters proposed the Financial …read more
