Donald Trump cannot stop worrying about the potential shift of the US economy to a digital dollar. The Republican sees it as a threat to the banking sector. Yet the politician is convinced that the introduction of this new virtual currency will lead to increased government control over citizens' financial transactions.
In his campaign, Trump declared that he was ready to oppose any attempts by the Federal Reserve to issue a digital version of the US dollar.
However, conservative analysts took Trump's remarks with a grain of salt. According to Bloomberg columnist Jonathan Levin, the threat to the Federal Reserve's independence posed by the Republican candidate's words is one of the worst economic proposals ever put forward by a presidential candidate.
The expert is surprised that Trump seriously considers giving presidents a say in monetary policy. "A proposal that would undermine decades of Federal Reserve independence, unsettle markets, and hurt the nation’s ability to control inflation in the long run," Levin says.
Earlier, presidential candidate Trump released a financial assets report showing that he owned cryptocurrencies valued between $1 million and $5 million.
