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2 pages/≈550 words
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Mathematics & Economics
Research Paper
English (U.S.)
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The Current Position of the Central Bank of the United States (Research Paper Sample)


Research Assignment #1: The Current Position of the Central Bank of the United States (the Fed) on the Topic of Development and Launch of a Digital U.S. Dollar
Description: This assignment requires students to research and then based on the research write a paper explaining the current position of the Federal Reserve on the topic of development and launch of a digital U.S. currency (U.S. Dollar). Hence, it is a research assignment in which students will write and submit a brief research paper (2-3 pages of content on the assigned topic + cover sheet page + References page).


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Central banks' digital currency is the future currency that represents fiat money. Blockchain Technology is a significant driver of the development and launch of digital currencies across the globe. Some countries, such as China, have taken the leading role in the digitalization of financial transactions. Digital currency is meant to improve the efficiency and effectiveness of financial transactions. The consumers will have direct access to currency through the banking accounts. Some of the money will be availed digitally, and they can withdraw anytime. Federal Reserve had announced the plans to develop digitalized dollar. This article shall insightfully evaluate the position of the fed in the digitalization of the currency.
The Current Position of the Central Bank of the United States (the Fed) on the Topic of Development and Launch of a Digital U.S. Dollar
In May, Jeff cox wrote that the fed is about to release a paper detailing the development and plans on the digital currency in the US. Fed Chairman, Jerome Powell said that the Federal Reserve was still scrutinizing the efforts and evaluating the effectiveness in sustaining the countries economy. According to Cox (2021, May), digital currency provides sustainable transactions to the household and business. The new system would enhance the effectiveness of transactions through secure networks and lower the costs of transactions. The slow release of the central bank's digital currencies was attributed to the worries of the effectiveness of the digital currency given the inefficiencies witnessed from popular bitcoin the dominance of the chain block network.

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