Although governments around the world seem to see central bank digital currencies (CBDCs) as the next step forward in the future of money, the American public appears to see CBDCs as a step backward. Of the 1,517 comment letters released by the Federal Reserve (Fed) thus far, 72 percent of the commenters called for the Fed to abandon its plans or expressed a negative opinion toward CBDCs (Figure 1).
A little housekeeping with the data reveals it may actually be 76% of commenters that oppose the idea of a CBDC (Figure 2). For instance, 46 of the comments were entirely blank and likely submitted in error. Also, there were 42 comments that appeared to be attempts by people in the private sector seeking government contracts. Removing both groups improves the view of what the general public is thinking.
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