Lael Brainard, the Federal Reserve Governor has urged the United States to be at the forefront of developing CBDC to maintain the US dollar’s role as a global reserve currency. Furthermore, in the announcement the Federal Reserve Governor stated, “we are sharpening our focus on the four key areas of CBDC development.” Additionally, “the growing role of digital private money is looking forward to facilitating the foreign CBDCs in cross-border payments, and concerns about financial exclusion.”