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. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet.

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PYMNTS

JANUARY 21, 2020

And now, for digital currencies, it’s a group effort — among central banks, that is. Up until now, the explorations and considerations of digital currencies — as would be, potentially, issued by central banking systems to bring fiat into digital form — has been done on a country-by-country basis.

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PYMNTS

FEBRUARY 24, 2020

Officials with the Federal Reserve don’t know yet precisely how severe the impact from the coronavirus will be, and on Monday (Feb. She said it was difficult to ascertain the weight of the effects on world economies, but that she planned to closely monitor the “new source of uncertainty” that the virus had wrought.

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PYMNTS

NOVEMBER 12, 2020

Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. Federal Reserve Chair Jerome Powell and Bank of England Gov.

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PYMNTS

JANUARY 27, 2021

According to a study by the Bank for International Settlements (BIS), central bank digital currencies (CBDCs) will be available for 20 percent of the world’s population in the next three years. In the past four years, 86 percent of central banks have been actively doing some kind of work on CBDCs, according to BIS.

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PYMNTS

MARCH 23, 2020

The Federal Reserve launched a massive aid package on Monday (March 23) to prop up the coronavirus-devastated U.S. economy, unveiling up to $300 billion in financing for consumers and businesses large and small, and an unlimited amount of so-called “quantitative easing.” New Loans for Consumers and Businesses.

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PYMNTS

SEPTEMBER 14, 2016

Live by the central banks, die by the central banks. Federal Reserve will meet and, at the conclusion of the two-day confab, will offer economic outlooks and also the decision over whether to raise rates. Possibly, sooner rather than later. Next week, the U.S. Keep in mind that the jobless rate in the U.S.

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PYMNTS

DECEMBER 16, 2020

The Federal Reserve has upped its expectations for the end-of-year forecast, now predicting that the real gross domestic product (GDP) will fall by only 2.4 Citing the central bank's Summary of Economic Projections released Wednesday (Dec. 16), the bank upped its positivity. percent, CNBC reported. percent fall.

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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. percent in Q2, down from the May 8 estimate of 33.9 percent, down from a 62.8 million, the U.S.

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PYMNTS

SEPTEMBER 1, 2020

A Federal Reserve governor said Tuesday (Sept. 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.

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PYMNTS

DECEMBER 6, 2020

Residents of Suzhou were given free digital yuan as part of a test orchestrated by China's central bank, according to reports, and retailer JD Digits announced it will accept the currency for some purchases. In a prior test of the central bank-developed digital currency, the government gave free digital yuan valued at about $1.5

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PYMNTS

MARCH 15, 2020

The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. The new rate will now be targeted at 0.0 percent to 0.25

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PYMNTS

AUGUST 27, 2018

Yes, Amazon has been able to keep prices low, but there is another impact that is getting consideration, tied to a paper that was presented in a paper at a Federal Reserve symposium in Jackson Hole, Wyoming. The paper was presented by Harvard Business School economist Alberto Cavallo.

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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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Clearly Payments

MARCH 18, 2024

Let’s delve into the key factors contributing to this decline: Shrinking Market Share: According to studies conducted by the Federal Reserve, cash usage has been on a steady decline. Data from the Federal Reserve reveals a stark reality—only 60% of businesses in the United States currently accept cash.

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Clearly Payments

AUGUST 29, 2024

Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. CBDC Initiatives in the USA In the United States, the Federal Reserve is spearheading efforts to explore the potential of a digital dollar.

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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. Copper — sometimes seen as the bellwether for the global economy — took a dive, the Financial Times (FT) reported on Sunday (Feb. Federal Reserve will release information on Wednesday (Feb.

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PYMNTS

JANUARY 2, 2020

A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. Jens Weidmann said banks should come up with their own cheaper and quicker systems to move money around, to create different options than Facebook’s Libra.

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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.

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PYMNTS

JUNE 14, 2020

The Federal Reserve Board’s Flow of Funds report revealed net worth among families fell to $110.8 The Federal Reserve Board’s Flow of Funds report revealed net worth among families fell to $110.8 At the same time, the nation’s central bank said corporate debt increased by 4 percent to $16.3

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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. The stocks have been under pressure since the Federal Reserve's recent meeting on monetary policy. stocks, FT reported.

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PYMNTS

JUNE 16, 2020

gross domestic product, according to Federal Reserve data. 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. Will so-called “zombie companies” soon do the same to parts of the U.S. In an age where U.S.

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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. Louis Federal Reserve President James Bullard estimated that the quarantine is costing the U.S.

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PYMNTS

FEBRUARY 5, 2020

The United States Federal Reserve is examining the possibilities and issues surrounding cryptocurrencies and digital payments, which include whether there would be a benefit to the agency issuing a digital currency , according to a report by Reuters. She did not mention interest rates or the current state of the economy.

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PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

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PYMNTS

SEPTEMBER 5, 2019

workers are engaged with the gig economy at some level, and most of them are hoping that instant and faster payments continue to grow in scope. workers are engaged with the gig economy at some level, and most of them are hoping that instant and faster payments continue to grow in scope. How AI Makes Claims Payouts Faster and Smarter.

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PYMNTS

JANUARY 11, 2019

Federal Reserve said in a statement. The Fed added that efforts by banks to help wouldn’t be criticized by bank examiners. Federal workers not receiving paychecks run the gamut from IRS workers to Secret Service agents, and number about 800,000. On Thursday (Jan. 10) at a luncheon in Washington, D.C.,

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PYMNTS

OCTOBER 16, 2019

Federal Reserve officials expressed worry that slowing global growth, exacerbated by the U.S.-China Since the September Federal Reserve meeting, surveys and other economic data have hinted that weakness in manufacturing might be spreading into other parts of the U.S. economy, such as the services sector.

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PYMNTS

JANUARY 14, 2021

At least it seems so, if recent comments by European Central Bank President Christine Lagarde are any indication. Lagarde stated back in November that the European Central Bank will be able to launch a digital version of the euro within four years. She pointed to the crypto’s use in criminal activity. . —

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Clearly Payments

FEBRUARY 19, 2024

According to the Federal Reserve, cash usage is on the decline, with only 60% of US businesses accepting it as a form of payment. of businesses in the USA are small businesses showcasing the importance of entrepreneurship to the US economy. There are 30.7 million active businesses as of 2023, according to the US Census Bureau.

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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. to take center stage. “In

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PYMNTS

MAY 21, 2020

New York’s Metropolitan Transit Authority (MTA) is seeking permission to borrow from the Federal Reserve ’s $500 billion Municipal Liquidity Facility (MLF) due to coronavirus-related troubles, Bloomberg reported. The reason for its creation was the heavy damage being done to the $3.9

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PYMNTS

JULY 29, 2020

Federal Reserve Chair Jerome Powell said Wednesday (July 29) that the road to economic recovery is “extraordinarily uncertain” and will be heavily influenced by how well the country keeps the pandemic under control. economy to return to its pre-pandemic levels. Meanwhile, others said recovery would happen in one to two years.

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PYMNTS

FEBRUARY 19, 2020

Investors are betting that strong continued support from central banks will make sure that credit markets keep ticking over. Investors have been disturbed lately by the possible “impact on the global economy caused by the coronavirus” hitting China, which caused the CDX Index to climb several notches on Jan.

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PYMNTS

NOVEMBER 15, 2019

Federal Reserve Chair Jerome Powell told lawmakers on Thursday (Nov. economy is the star economy these days … there’s no reason that can’t continue.”. The Federal Reserve cut rates three times in 2019 starting in July, which was the first time for a rate reduction since 2008. 14) that “the U.S.

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PYMNTS

AUGUST 3, 2020

Looking at the big economic picture, all those closings would put a drag on the economy even when a recovery finally sets in. Besides being essential to the city’s economy, those small businesses help to define the culture and flavor of the neighborhoods.

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Small Business Federal Reserve Central Bank Economy 63

PYMNTS

JUNE 20, 2018

The trade war that is playing out on a global scale now is hitting business outlooks — and the worldview of central banks. In remarks from central bankers themselves, Chair of the Federal Reserve Jerome Powell noted, “Changes in trade policy could cause us to have to question the outlook.” How sizable?

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