Powell said in today’s panel discussion that if they pursue a CBDC (Central Bank Digital Currrency), it should have four characteristics. The first is that it would be “intermediated.” Second, it should be “privacy protected.” Third, Powell said that it would be “identity verified.” This means that the US CDBC would not be an anonymous instrument. The details of the holder and to who and where it is transferred will be public. The fourth characteristic is “interoperability.” He said that they would balance privacy protection with identity verification.