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Barr: Economics of Payments XII Conference, October 27, 2023
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I am grateful for the opportunity to speak with you today, at a time of great change, and great promise, for the payments system.1 The Federal Reserve plays multiple roles in the payments system, including as a supervisor of banks and financial market utilities and as an operator of some key components of payments infrastructure. The research done by experts, including those in this room, is vital in helping us understand what works well in the payments system and what can be done to improve it. We introduced the FedNow Service® in July to facilitate secure and convenient instant payments. We developed FedNow in response to a growing demand for instant payments from both households and businesses. A hundred years ago, the Fed facilitated payments by moving checks across the country by train. FedNow represents new "rails" by which payments can keep pace with today's businesses and consumers. The Federal Reserve has now made these rails available; banks can build on this infrastructure to provide better service for households and businesses. It is hard to speak about payments innovation without mentioning the increased experimentation with new payments technologies, such as stablecoins and central bank digital curren post: FED'S BARR DOES NOT COMMENT ON MONETARY POLICY OR ECONOMIC OUTLOOK IN REMARKS TO FED PAYMENTS CONFERENCE. post: FED'S BARR: THE CENTRAL BANK STILL CONSIDERING DIGITAL DOLLAR, THE CENTRAL BANK HASN'T DECIDED ON A CBDC.
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Leading Forex broker, Moneta Markets, launches a new MetaTrader 5 main-label server located in New York to cater to its rapid expansion throughout 2023. We spoke with Founder and ...
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Q3 GDP came in at a boomy 4.9%. The chart at the right breaks down the contributions by component. The primary drivers were inventories and personal consumption at 1.3% and 2.69%. ...
Final UMich consumer sentiment data for October 2023. • Prelim was 63.0 • Prior was 68.1 Details: • Current conditions 70.6 vs 66.7 prelim (71.4 prior) • Expectations 59.3 vs 60.7 ...
The September personal income and spending report shows that US inflation remains somewhat sticky, with the core personal consumer expenditure deflator coming in at 0.3% ...
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- Posted: Oct 27, 2023 9:02am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,434
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