Why the coming recession could force the Federal Reserve to swap greenbacks for digital dollars
The Federal Reserve has never been more famous than it is today. It drew praise, and ire, for its handling of the financial crisis a decade ago, and the extraordinary measures it took subsequently to stimulate the U.S. economy have made it an important driver of financial markets. Meanwhile, President Trump has made its chairman, Jerome Powell, a household name by frequently criticizing the central bank’s policies in interviews and on Twitter.
And now, a movement has been brewing among economists, financial-services professionals and central bankers to encourage a rethinking of the technology of currency — those paper notes we carry in our wallets — with an eye toward issuing a digital currency. Some argue that could give central banks the tools necessary to break free of chronic disinflation and persistently low or negative interest rates, while giving Americans a risk-free means to transact in a world where digital commerce comprises a growing share of the economy.
“The debate isn’t about whether we need [a digital currency],” Michael Bordo, an economist at Rutgers University and a fellow at the Hoover Institution, a public policy think tank at Stanford University, told MarketWatch. “It’s about how you do it.”
Americans today already use digital currency for most of their purchases. In 2018, they used physical dollars for only 26% of transactions, versus 62% with digital currency, which includes credit cards, debit cards and bank transfers, according to the Fed.
https://www.marketwatch.com/story/why-the-coming-recession-could-force-the-federal-reserve-to-swap-greenbacks-for-digital-dollars-2019-09-06
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exactly Chin music. They won't be happy until they have it all and we have nothing. 
