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

Modern Treasury Sees ‘Tectonic Shift’ of Private Innovation From FedNow Launch

Modern Treasury Sees ‘Tectonic Shift’ of Private Innovation From FedNow Launch
Modern Treasury Sees ‘Tectonic Shift’ of Private Innovation From FedNow Launch
November 21, 2022  |  Real-Time Payments

In the run-up to the launch of the FedNow real-time payments platform, financial industry insiders are anticipating what the Federal Reserve’s new baby will look...

READ MORE >
Fed Official Neel Kashkari Tweets ‘Entire Notion of Crypto Is Nonsense’
Fed Official Neel Kashkari Tweets ‘Entire Notion of Crypto Is Nonsense’
November 18, 2022  |  Cryptocurrency

Federal Reserve Bank of Minneapolis President Neel Kashkari said Friday (Nov. 18) in a tweet that cryptocurrency has no use and is just a device...

READ MORE >
Is Higher Fraud Risk an Unintended Consequence of Fed’s New Debit Routing Rule?
Is Higher Fraud Risk an Unintended Consequence of Fed’s New Debit Routing Rule?
November 18, 2022  |  Fraud Prevention

Last month, the Fed said it was officially ending debit network exclusivity across all channels. Beginning in 2023, all debit card issuers must enable merchants...

READ MORE >
10 US Banks Participating in Test of Interoperable Digital Money Platform 
10 US Banks Participating in Test of Interoperable Digital Money Platform 
November 15, 2022  |  Cryptocurrency

Ten members of the banking community are working with the New York Innovation Center (NYIC), which is part of the Federal Reserve Bank of New...

READ MORE >
Fed Vice Chair Brainard: Crypto Needs ‘Strong Regulatory Guardrails’
Fed Vice Chair Brainard: Crypto Needs ‘Strong Regulatory Guardrails’
November 14, 2022  |  Legal & Regulation

Noting the losses that retail investors have suffered in the cryptocurrency market, Federal Reserve Vice Chair Lael Brainard has reportedly reiterated her view that the...

READ MORE >
FedNow Says 2023 Fee Schedule Includes Discount on Credit Transfer Rate
FedNow Says 2023 Fee Schedule Includes Discount on Credit Transfer Rate
November 10, 2022  |  Real-Time Payments

The Federal Reserve has announced pricing for the FedNow Service, its instant payments system that is to be launched in the middle of 2023.  Get...

READ MORE >
October Inflation Dips to 7.7% Fueling Hopes for ‘Soft Landing’
October Inflation Dips to 7.7% Fueling Hopes for ‘Soft Landing’
November 10, 2022  |  Economy

The nation’s closely watched Consumer Price Index fell to a nine-month low of 7.7% in October, as the impact of rising interest rates and weaker...

READ MORE >
Consumers Still Tapping Cards to Spend but Credit Growth Slows
Consumers Still Tapping Cards to Spend but Credit Growth Slows
November 07, 2022  |  Consumer Finance

We may be seeing a tipping point for debt — where gains in personal loan borrowing come at the expense of pricier credit card debt....

READ MORE >