Robert Kaplan, president, and CEO of the Federal Reserve Bank of Dallas has recently stated that it’s critical to work on developing a digital currency.
Mr Kaplan said on Tuesday at an event that he is cautious about the current economic situation for the next 6 months as the Coronavirus resurges, but is optimistic in the longer term.
The next two quarters are going to be very challenging, very difficult. Downside risks are growing with this resurgenceKaplan said.
Kaplan also briefly spoke about cryptocurrencies and blockchain technology stating that the Federal Reserve Bank should start working on developing a digital currency in the months and years ahead.
Kaplan also thinks the economy will likely need more targeted aids in the near future to survive.