PYMNTS

SEPTEMBER 1, 2020

1) that the central bank has to launch initiatives "in coming months" to assist the economy in surmounting the pandemic’s effects, while meeting the pledge of more formidable employment expansion and greater inflation, Reuters reported. A Federal Reserve governor said Tuesday (Sept.

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PYMNTS

MAY 15, 2020

Just when the economy can’t take any more bad news, the Federal Reserve Bank of Atlanta is predicting the national gross domestic product (GDP) is expected to drop by nearly 43 percent in the second quarter, CNBC reported. GDPNow is not an official forecast of the Atlanta Fed. Jobless claims for the week ending May 9 were 2.98

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PYMNTS

DECEMBER 30, 2020

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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PYMNTS

JULY 29, 2020

“Indeed, we have seen some signs in recent weeks that the increase in virus cases and the renewed measures to control it are starting to weigh on economic activity,” Powell said in a press conference following a two-day meeting in which the central bank decided to leave its key funds rate unchanged. Interest Rates.

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Payments Source

AUGUST 5, 2019

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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PYMNTS

SEPTEMBER 14, 2016

Live by the central banks, die by the central banks. If the Fed does indeed hike, it would be the second boost seen in the past year, albeit one that has been in the offing for months. The conventional wisdom holds that the Fed will, in fact, not raise rates next week. Possibly, sooner rather than later.

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PYMNTS

FEBRUARY 5, 2020

She did not mention interest rates or the current state of the economy. Brainard has previously touched on other central bankers’ feelings of trepidation about issuing currencies, including Facebook’s proposed Libra , noting that there are risks involved.

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PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. Mastercard: The Touchless And Caring Economies Are Boosting P2P Adoption.

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The Payments Association

OCTOBER 14, 2024

The flaws in prevailing central bank digital currency (CBDC) designs and suggestions for improving them. These design flaws could undermine efforts to create a public digital payments system for the future economy. What is this article about? Why is it important? What’s next?

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PYMNTS

APRIL 1, 2020

The Boston Fed chief said the central bank has already moved to help lessen the coronavirus pandemic’s economic harm. For instance, he noted that the bank cut its key federal funds rate to essentially zero on March 15. .

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PYMNTS

MARCH 23, 2020

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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PYMNTS

MARCH 18, 2019

Connecting these two dots suggests a few important things that, for banks and card networks, might be the 2020 hindsight that could have come in handy had they stopped to look backwards a few years ago: That the Fed has much more than a passing interest in how faster payments are run in the U.S. This delay was initiated by the Fed.

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Central bank digital currencies (or CBDCs) have been gathering steam, at least as a concept. No Race To Rollout .

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PYMNTS

SEPTEMBER 13, 2016

In the wake of the financial crisis, the Fed officially cut the interest rate in the U.S. economy, with the recovery underway, would see the Fed incrementally tick up interest rates throughout 2016, with an overall goal of ~2 percent, coming close to 2008 levels. When the Federal Reserve ticked the interest rate up to 0.25

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PYMNTS

AUGUST 27, 2018

The aforementioned impact of shorter-duration pricing at retailers has implications for monetary policies, according to Bloomberg, as automatic adjustments to what are known as external shocks means that interest rate adjustments by the central bank may lose potency.

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PYMNTS

AUGUST 5, 2019

central bank about whether it will affect the stability of the financial markets. Federal Chairman Jerome Powell cautioned that if the trend continues, it could become problematic for the economy, but he said the danger from corporate debt isn’t as bad as the subprime mortgage threat was.

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PYMNTS

FEBRUARY 16, 2020

China’s coronavirus is having a negative impact on the eurozone’s already-sluggish economy, and no one is confident that the U.S. Fed will leave interest rates alone until the end of the year. Copper — sometimes seen as the bellwether for the global economy — took a dive, the Financial Times (FT) reported on Sunday (Feb.

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PYMNTS

NOVEMBER 8, 2019

The vague and scant details on the tech platform’s proposed shadow global central bank have sounded international alarm bells, particularly in light of Facebook’s ongoing scandals and reputation for abuse,” he wrote. Chopra wrote in support of the creation of the “ FedNow Service,” a real-time scheme currently being considered.

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PYMNTS

NOVEMBER 8, 2019

The vague and scant details on the tech platform’s proposed shadow global central bank have sounded international alarm bells, particularly in light of Facebook’s ongoing scandals and reputation for abuse,” he wrote. Chopra wrote in support of the creation of the “ FedNow Service,” a real-time scheme currently being considered.

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PYMNTS

JUNE 20, 2019

Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. Powell added that the Fed meets “with a broad range of financial sector firms all the time on financial technology.”.

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PYMNTS

NOVEMBER 11, 2020

In today’s top digital-first banking news, MercadoLibre has been granted a license from Brazil’s central bank, while payments FinTech Alacriti has teamed with Glia on new customer service options for payments needs. Plus, payment startup SumUp has been granted a new electronic money license from Ireland’s central bank.

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PYMNTS

JUNE 14, 2020

At the same time, the nation’s central bank said corporate debt increased by 4 percent to $16.3 Last week, the Fed projected interest rates will remain near zero through 2022 and promised to continue supporting a U.S. economy devastated by the pandemic. trillion in the first quarter compared to $117.3

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PYMNTS

OCTOBER 23, 2020

economy as traveling along a V-shaped recovery , Sheard said, then we’re roughly halfway up the “second leg” of the V.). Simply put, China is a massive economy that rivals the U.S. as the largest economy in the world a few years ago. But China is still a developing economy and is growing more quickly than the U.S. –

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PYMNTS

FEBRUARY 9, 2018

According to New York Fed economists Michael Lee and Antoine Martin, as well as Minneapolis Fed President Neel Kashkari, those fears are probably a bit overstated. “If So why is the Fed rolling its eyes, while the rest of the world seems to be getting ready to panic? And the fears that it will disrupt and displace fiat currency?

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PYMNTS

SEPTEMBER 21, 2020

Bank shares suffered, too, with lenders, including Lloyds Banking Group and Barclays , seeing declines, Deutsche Bank seeing a 8 percent drop, and HSBC 's London-listed shares falling 5 percent. Leary called the election "volatile" and said there was concern for "long-term damage to the economy," FT reported.

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PYMNTS

NOVEMBER 22, 2020

The WSJ reports that a looming question after a vaccine is deployed will be how the Fed will respond to inflation if it hits the 2 percent target the central bank has public embraced. Fed governors have indicated in the past that inflation about 2 percent is okay for a spell if it follows a period of sub-2 percent inflation.

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PYMNTS

JUNE 16, 2020

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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PYMNTS

MARCH 17, 2016

Focus instead on an innocuous Fed meeting that may turn out to be … not so innocuous. But, then again, the central bank is most definitely going to push more rate increases, at some point, over the next several months. The roller coaster that has dominated the global landscape is one that now likely brings caution to the Fed.

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PYMNTS

MAY 19, 2020

They have also approved nearly $25 billion in payroll support to the airline industry to protect that sector of the economy. In addition to the economic disruptions, the virus has created tremendous strains in some essential financial markets and impaired the flow of credit in the economy, Powell said.

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PYMNTS

JANUARY 13, 2021

For the economy as a whole, he said, “it’s possible [to] get a boom. The Fed itself has kept rates at or near historic lows for quite some time; and for now, inflation is well below the 2 percent target that has traditionally been cited by the central bank. It’s a sign of a growing economy. 13), the CPI was up 1.4

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PYMNTS

APRIL 15, 2020

In today’s top news, Amazon will lower commission rates for the Amazon Associates program, while one of China’s state-owned banks has a mobile pilot app that supports central bank digital currency. economy $25 billion each day. Agricultural Bank of China Tests App for Country’s Digital Currency.

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PYMNTS

JANUARY 11, 2019

The Fed added that efforts by banks to help wouldn’t be criticized by bank examiners. Federal Reserve Chairman Jay Powell discussed the effects that a long-term shutdown could have on the economy. Powell stressed that the Fed is watching “patiently and carefully” while it keeps an eye on how things will turn out.

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PYMNTS

MAY 21, 2020

The agency’s idea is that more funding will help to restore transportation services to normal, thus spurring on the economy, MTA CEO Patrick Foye wrote in a letter to the Fed. Prices have recovered since then, lifted by the intervention from the central bank, saving prices from their lowest rates since the 1980s.

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PYMNTS

MAY 31, 2017

economy — and the slowdown during the first three months of the year slowed GDP growth to 1.2 Yesterday, the Atlanta Fed said the stronger data helped its closely-followed GDP tracker to project second-quarter growth of a robust 3.8 central bank has signaled a quarter-point move is likely at its June meeting in two weeks.

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PYMNTS

OCTOBER 8, 2018

In what might be seen as a move to boost both lending and spending in China — and extend buying power as Chinese citizens wield the power of their wallets — the Chinese central bank, the People’s Bank of China (PBOC), cut its mandate for cash reserves that lenders must hold. trillion (US$175 billion) into the economy.

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PYMNTS

JULY 16, 2018

economy might be heading toward a recession. While the economy seems healthy, current global trade tensions are another concern for the future. economy, coupled with a cautious Federal Reserve , should keep a recession at bay – at least for another year. “I Market watchers have sent out a warning that the U.S.

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PYMNTS

JUNE 7, 2019

And yet, the Federal Reserve has given investors signs that it might cut rates in a bid to keep the economy in growth mode, even as retail sales have been lumpy (retailers, according to the jobs data so far this year, have shed 50,000 positions) and declining of late, and as factory orders (from businesses) have also waned.

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