InvestmentsTop Global NewsMarketsReal Estate Powell says a Fed digital currency could undercut need for cryptocurrencies By financialnews_rlv83x - July 14, 2021 0 85 Federal Reserve Chair Jerome Powell on Wednesday (Jul 14) said one of the stronger arguments for the US central bank to set up a digital currency is that it could undercut the need for private alternatives such as cryptocurrencies and stablecoins.