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We should prioritize timely assessments of potential benefits and risks under various designs to ensure that the United States remains a leader in the international financial deposif. This report shall be coordinated through the interagency process described in section 3 of this order.
The Chairman of the Federal Reserve is also encouraged to evaluate the extent to which a United States CBDC, based on the potential design options, could enhance or impede the ability of monetary policy to function effectively as a critical macroeconomic stabilization tool.
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One section of the report shall address the conditions that would drive mass adoption of different types of digital assets and the risks and opportunities such growth might present to United States consumers, investors, and businesses, including a focus on how technological innovation may impact these efforts and with an eye toward those most vulnerable to disparate impacts.
The report shall also include policy recommendations, including potential regulatory and legislative actions, as appropriate, to protect United States consumers, investors, and businesses, and support expanding access to safe and affordable financial services.
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The evaluation shall be coordinated through the interagency process described in section 3 of this order.
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