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New York Fed: 'Programming Money Without Programmable Money'
February 07, 2026
NEW YORK, Feb. 7 (TNSLrpt) -- The Federal Reserve Bank of New York issued the following staff report (No. 1180) in Feb. 2026 by Michael Junho Lee and Antoine Martin entitled "Programming Money Without Programmable Money."

Here is the abstract:

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Programmability is at the heart of ongoing work on the future of money and payments by central banks around the world. Despite its potential, there is growing concern that programmability conflicts wit . . .

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