Fed Bowman: We are watching very closely for potential signs of more bank stress

• difficult to imagine justification for direct access central bank digital currencies beyond interbank and wholesale transactions
• See some promise from wholesale central bank digital currencies
• Banks have a broad concern about disintermediation from a CBDC (central bank digital currency)
• we are watching very closely for potential signs of more bank stress

Bowman does not comment on monetary policy or the economic outlook