federal reserve

Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.

(source: federalreserve.gov)

Supreme Court to Decide If Swipe Fee Challenge Can Proceed
Supreme Court to Decide If Swipe Fee Challenge Can Proceed
September 29, 2023  |  Legal

The U.S. Supreme Court has reportedly agreed to hear an appeal from a convenience store regarding the timeliness of its lawsuit challenging a Federal Reserve...

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SVB’s Collapse Cost $16 Billion, and Fed’s Watchdog Wants to Know Why
SVB’s Collapse Cost $16 Billion, and Fed’s Watchdog Wants to Know Why
September 28, 2023  |  Bank Regulation

When Silicon Valley Bank (SVB) failed this spring, it shocked the market.  But while those economic and banking sector wobbles have since largely abated, the third-largest...

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Report: 40% of CFOs Cut Spending Due to Rate Hikes
Report: 40% of CFOs Cut Spending Due to Rate Hikes
September 28, 2023  |  CFO

A new survey finds a growing number of CFOs trimming spending due to higher interest rates. The survey, issued earlier this week by Duke University’s Fuqua School of...

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Bank of America CEO Brian Moynihan Expects Soft Landing for Economy
Bank of America CEO Brian Moynihan Expects Soft Landing for Economy
September 27, 2023  |  Economy

Bank of America Chairman and CEO Brian Moynihan reportedly said he believes that the economy is heading toward a soft landing, avoiding a recession.  Speaking Wednesday...

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FedNow Unveils Market Practices to Promote Instant Payment Feature
FedNow Unveils Market Practices to Promote Instant Payment Feature
September 26, 2023  |  Real-Time Payments

The Federal Reserve has unveiled market practices aimed at promoting the standardized implementation of the request for payment (RFP) feature of the FedNow® Service. The market practices were...

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Higher for Longer Means Tougher for Longer for FinTechs
Higher for Longer Means Tougher for Longer for FinTechs
September 24, 2023  |  Fintech Investments

The Federal Reserve said last week that higher interest rates could stick around. As The Wall Street reported Sunday (Sept. 24), this “higher for longer” strategy could spell bad...

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Federal Reserve Reduces Staff for First Time Since 2010
Federal Reserve Reduces Staff for First Time Since 2010
September 22, 2023  |  Personnel

The Federal Reserve is reportedly reducing its workforce, cutting approximately 300 positions this year. The staff cuts primarily affect the 12 regional reserve banks and...

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FinTech IPO Index Loses 5.8% as Platforms Plunge, Offset Spate of Partnership Announcements 
FinTech IPO Index Loses 5.8% as Platforms Plunge, Offset Spate of Partnership Announcements 
September 22, 2023  |  Fintech Investments

Partnerships were the prime source of headlines this past week. But for the FinTech IPO Index, which gave up 5.8% through the past five sessions,...

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Philly Fed Data Offers Snapshot of Main Street Small Business Funding Pressures
Philly Fed Data Offers Snapshot of Main Street Small Business Funding Pressures
September 21, 2023  |  Economy

The Philadelphia Federal Reserve’s September Manufacturing Business Outlook Index offers up a monthly survey of manufacturers’ current business conditions and their outlook on what’s to...

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