US Fed’s New Job Post Clears Its Interest in Digital Currency


The United States Federal Reserve (Fed) looking for a new manager for its retail payments section who also will be responsible to research digital currencies.

According to the job post on Monday, the new hire will be a part of the department’s retail payments section and will oversee the Fed bank’s check and automated clearinghouse services and facilitates research in retail payments innovation, and addresses policy and regulatory issues concerning retail payment systems.

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Elaborating the responsibility of the manager, the job post detailed that the new hire will be “promoting and contributing to the development and implementation of policy, regulation, and research, related to retail payment system.”

In addition to that, the person will also be responsible for research in “digital currencies, stable coins, distributed ledger technologies, and broadly financial/digital innovation in retail payments.”

The position is based in Washington, D.C., and the Fed is looking for someone with seven years of minimum experience if the person is a bachelor’s degree holder in business administration, economics, or finance, but for master’s degree-holding applicants the minimum experience is set for six years.

The department is willing to pay a maximum salary of $250,700 per year under the federal pay grade of 29.

Digital dollar on the way?

The US dollar issuing department is constantly debating the prospects of digital currencies. The top officials are also considering to issue a digital version of the US dollar amid a similar approach from the governments of China.

“I see no argument that makes sense to have something that complicated out there when you have large, liquid capital markets in the U.S. Not having one currency that you can basically price things and have a deep market in, that makes life much harder for the global economy,” Simon Potter, a former Federal Reserve official, said earlier.

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