The Federal Reserve of the US has yet to decide whether to introduce digital currency. Powell was questioned about the Federal Reserve's work on CBDC. He said: “The ultimate test we’ll apply when assessing CBDC and other digital innovation is whether clear tangible benefits outweigh any costs and risks.” Powell concluded: “So, bottom line, we haven’t made a decision about CBDC, but we will be issuing discussion paper soon in order to form basis of this public interaction that we will have.”