> it wouldn’t hurt for there to be somewhere you actually can rest cash securely, for a service fee. This is called a Narrow Bank. [0] The Fed doesn't want it

> it wouldn’t hurt for there to be somewhere you actually can rest cash securely, for a service fee. This is called a Narrow Bank. [0] The Fed doesn't want it though, because such a bank would not participate in the money creation process, or help the Fed disseminate its monetary policy, which all banks implicitly do. Alternatively... > You could imagine a federal institution for this, or simply a regulatory program that required banks to offer such an account. This is called a CBDC. [1] It may one day happen. [0] https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe... [1] https://www.federalreserve.gov/central-bank-digital-currency.htm https://www.federalreserve.gov/central-bank-digital-currency...