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“The unfair advantage that some private companies could enjoy from this partnership and the failure to ensure the principles of privacy, sovereignty, and free markets should be concerning to every American.” It asks pointed questions about Project Hamilton’s funding sources and other forms of engagement with the private sector. The lawmakers said they want to know which firms are or have been involved with Project Hamilton, to what extent Project Hamilton has already engaged with the firms, whether Phase II of the project will involve continued engagement with the private sector, and whether the Boston Fed intends to fund private sector startups through the project.
Emmer has expressed his concerns about a U.S. CBDC before. In January, he introduced a bill to prohibit the Federal Reserve from issuing a CBDC directly to individuals.