If people are leaving their money in cybercurrency and leaving it there, they are not putting it in a bank. […] What happens to the intermediation process if everyone is investing in these cybercurrencies?”
We are in favor of financial innovations. We are following these things very carefully, but we don’t see digital currencies from central banks as something happening in the near term.”
Back in July, Powell said that Bitcoin could serve as an alternative to gold, but no one would use it for payments.