You're going to see that when we vote later on Tom Emmer's bill. They want that. Republicans are thankfully united in opposing central bank digital currency, but we should deal with that fully here. On March 8th of 2023, in a dialogue with Chairman Hill, Federal Reserve Chairman Jerome Powell said that they would need congressional approval for a retail cbdc. But he went on to explain that you could have a layered CBDC and they're building just that at the Federal Reserve. We should completely turn that off. (01:46–01:59)
CLAIM
Asserts that Jerome Powell stated congressional approval is needed for a retail CBDC.
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