Federal Reserve Chairman Jerome Powell has made clear the U.S. central bank's current stance on a Central Bank Digital Currency (CBDC), amidst a flurry of speculation and inquiries. Powell stated that the Federal Reserve is not working on a CBDC and has no immediate plans to propose one, countering rumors of a secret project. He emphasized the need for legislation to authorize a digital dollar and clarified that any decision on the U.S. needing a CBDC has not been made, noting the Fed is a "long, long way" from such a proposal. Despite the Biden administration expressing high urgency on CBDC research and development, Powell's comments reveal a significant gap between political aspirations and the Federal Reserve's current trajectory. The Federal Reserve has declared CBDC a 'Key Duty' to Congress, yet Powell's remarks, indicating it is "wrong to say" the Fed is secretly working on a CBDC, highlight a cautious approach, emphasizing the distance from actual implementation.