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Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?

The Fintech Times

As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digital currencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. Ninety-eight per cent of the global economy is reportedly already exploring digital versions of their currencies. .

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Fed Could Issue COVID-19 Crisis Money Via eWallets

PYMNTS

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. The Fed would be in control of the digital wallets. economy overall in this challenging time. economy overall in this challenging time.

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Fed Expects GDP To End Year Slightly Higher; Predicts 4.2 Pct Growth In 2021

PYMNTS

Citing the central bank's Summary of Economic Projections released Wednesday (Dec. 16), the bank upped its positivity. In September, the bank expected there to be a 3.7 In addition, the Fed raised the projection for the 2021 real GDP forecast to 4.2 The Fed said the unemployment rate will likely hit around 6.7

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Fed plans to launch real-time payment service by 2024

Payments Source

As part of its justification for developing its own government-backed system, the central bank said that leaving only a single fast network run by big banks constitutes a potential risk to the economy.

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Will ‘Zombie Companies’ Eat The US Economy?

PYMNTS

And Monday, the Fed announced plans to create a “broad, diversified market index” and purchase individual corporate bonds on the secondary markets. Even Federal Reserve Chair Jerome Powell said Tuesday the longer the country’s economic downtown persists the potential for more long-term damage to the economy. In an age where U.S.

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Ternio CEO: Crypto’s Transformation Will Come From The Fed, Not Bitcoin

PYMNTS

Instead, he expects central bank digital currencies ( CBDCs ) — government-issued digital versions of traditional dollars, yuan, etc. — In my mind, most money [in the near future] will basically be cryptocurrency, because you’ve got these CBDCs — the central bank digital currencies,” he said. The Fed Factor .

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Fed: ‘Great Uncertainty’ Around Impact To US Economy

PYMNTS

Cleveland Fed President Loretta Mester said she was comfortable thus far with the central bank’s current interest rate and was closely watching the way the coronavirus was affecting global revenues and growth. They lowered their expectations after Monday’s shift. But in the U.S.,

Fed 56