FEDERAL RESERVE
The Federal Reserve System is the central bank of the United States. "The Federal Reserve System was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law." Federal Reserve has control over monetary policy exclusively for the benefit of the United States. Typical monetary functions are money issuance, money price, interest rate, and more. Since the US Dollar has served as the de facto world currency. Federal Reserve has inevitable influences on the stability of the monetary and financial system and monetary policies of other countries.
US Congressmen Ask Federal Reserve to Create National Digital Currency
Two members of the United States House of Representatives Financial Services Committee recently asked the Federal Reserve if it has any plans to create a U.S. dollar digital currency.
Facebook’s Libra Creating Shadow Monetary Ecosystem Warns FAC
Facebook’s creation of cryptocurrency Libra will spawn a ‘shadow banking’ system outside of sanctioned financial markets according to US banks.