During a Q&A session at the Minnesota Transportation Conference & Expo, President of the Minneapolis Federal Reserve Bank, Neel Kashkari, expressed his skepticism towards central bank digital currency (CBDC). He stated that the Fed is studying it but believes that an act of Congress would be required to issue its own digital currency. Kashkari questioned the need for a CBDC, stating that Venmo can already send money instantly and asked what problem a CBDC would solve. He also expressed concerns about privacy and the potential for negative interest rates and direct taxation with a CBDC. Despite his skepticism, Kashkari is keeping an open mind and waiting for the results of studies.