Too Long; Didn't Read
The Board of Governors of the Federal Reserve System published a document in January 2022 titled Money and Payments: The U.S. Dollar in the Age of Digital Transformation. The paper purports to discuss the current state of domestic payments systems. The authors have requested feedback via an online form that poses more than twenty-two questions due by May 20th, 2022. We are publishing thoughts and observations on it here instead, while further addressing some of the shortfalls in the framing and positioning of the paper.