[37] The costs and benefits of issuing a global synthetic currency have been discussed since John Maynard Keynes’ Bancor proposal and are far beyond the scope of this speech.
These are important questions worth exploring, but they link back to the identification of “problems” that a CBDC would be designed to solve. Unintended Effects on the U.S. Banking System It is also necessary to consider the potential impacts of a CBDC on the banking sector.