Krugman: It's Paranoid to Fear CBDCs. The Fed's "Infallible."

• Perhaps he doesn’t consider the government essentially having complete control of how you use your money a “risk.”
• He claims that the Federal Reserve is “basically infallible” and the banking industry doesn’t want to compete for customers with them.

Krugman’s comments come after Florida’s Gov. Ron DeSantis denounced “Big Brother’s Digital Dollar.”

• DeSantis announced he plans to introduce legislation that would ban Floridians from making use of a digital currency issued by the federal government.
• He asserts that a digital currency would be used to “impose an ESG agenda” and would prevent people from spending to much on gas or from buying rifles.

Read more from Krugman about the “infallible” Fed and “risk-free” CBDC here.