The fed to consider creating a digital dollar or currency for the public. but, money is far too vital to be left in the hands of central bankers. julian zelizer: policy for general-purpose digital dollars should be established by congress, not the fed. according to him, a cbdc would be a new liability that the public may use, and it was almost the same as when you deposit at the central bank.

congressman don beyer has introduced legislation that would allow the fed to create digital dollars while also giving the treasury the authority to prohibit them. however, such regulatory absolutism is the incorrect way. congress should establish a liberal private sector that is oriented with the dollar-stablecoin framework.

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