The baseline scenario reflected the consensus expectation among professional forecasters on the depth and duration of the  1  The views expressed in these remarks are my own and not necessarily those of other members of the Board of Governors. BIS Review 38/2010  1  recession.
(Of course, Federal Reserve CBDC accounts that are available to persons outside the United States might promote use of the dollar, but global availability of Federal Reserve CBDC accounts would also raise acute problems related to, among other things, money laundering.)