Risks of a central bank cryptocurrency

With all the news and excitement around crypto you may not have noticed that the federal reserve is talking about a central bank cryptocurrency. What would that mean to the current banking system? How does it impact your ability to create wealth?<br /><br />Central banks already have flaws and problems. They can restrict competitive activities and cause inflation through printing money. Will that be made worse by a cryptocurrency? And why not use existing cryptocurrency?<br /><br />If you want to transfer my income into wealth, they’d be very careful about what’s coming out of the central bank when it comes to their interactions with cryptocurrency. Is it something that local bank should be worried about?