This past Monday, the Federal Reserve Board announced that it plans to develop a new “round-the clock real-time payment and settlement service” called “FedNow Service” that will make it easier and faster to pay bills and transfer money. Because of the advent of new technological advancements such as blockchain, the Federal Reserve has the capacity to modernize the United States’s payment system so that it is both safe and efficient.
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Tag Archives: FederalReserve
Michelle W. Bowman Appointed to the Federal Reserve System’s Board of Governors
This Monday, Michelle W. Bowman was sworn in and took oath as a member of the Board of Governors of the Federal Reserve System. Bowman was nominated by President Donald Trump in April for an unexpired term as a Board member, and was confirmed by the Senate on November 15th, 2018.
Federal Reserve Releases 2017 Small Business Credit Survey
The Federal Reserve recently released their 2017 Small Business Credit Survey, a national collaboration among the 12 Federal Reserve Banks, providing prudential information on small businesses’ performance, debt and credit experiences from the third and fourth quarter of last year. Findings show an increase in reported revenue growth and profitability, as well as financial difficulties in some firm segments.