PYMNTS

DECEMBER 24, 2020

When it’s said and done there was only one story that mattered in the retail universe this year and it was the rise of the digital-first economy. Walmart has relied on its massive ground and air transportation network to feed its eCommerce effort, most of which is fed through its distribution centers instead of stores. D2C Explodes.

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Economy Consumer On-Demand Shutdown 118

PYMNTS

APRIL 24, 2020

The Federal Reserve Board has eliminated its six-per-month limit on transfers and withdrawals from savings accounts as the nation continues to adapt to changes caused by COVID-19. Such a rule is no longer necessary, the Fed said. It could take a few years before the economy regains its footing, he said.

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PYMNTS

AUGUST 7, 2020

6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov. The Fed is defining instant payments as a subset of payments in which an end user receives funds in near real time, with immediate interbank settlement of the payment also having occurred. If all goes as planned, that is. In a Thursday (Aug.

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Instant Payments Fed FedNow Interbank Settlement 75

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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Faster Payments Fed RTP Same Day ACH 80

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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Fed Federal Reserve Economy NOV 55

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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Fed Federal Reserve Economy Central Bank 60

PYMNTS

APRIL 14, 2020

Louis said while the coronavirus pandemic has crippled the economy, it could quickly rebound if everyone gets tested for the virus. Widespread testing of everybody in the economy would put an end to this crisis,” he said. “We Jump-starting the nation’s economy cannot be done by a politician making an announcement, he said.

Economy 56

Economy Federal Reserve Fed Non-Bank 56

PYMNTS

MARCH 24, 2020

economy since the coronavirus pandemic began is pointing to a grim future. The Philly Fed conducted the poll among businesses in Delaware, Eastern Pennsylvania and Southern New Jersey between March 5 and 19 — right when the coronavirus scare was beginning to slam the U.S. One of the first Federal Reserve reports to measure the U.S.

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Fed Economy Federal Reserve Research 40

PYMNTS

JANUARY 18, 2019

While the Fed has hinted that it has been adjusting its U.S. economic outlook due to turmoil in the markets as well as decelerating expansion in China, New York Fed President John Williams said on Friday (Jan. 18) that the shutdown has become a hindrance for the economy, Financial Times reported. percentage point reduction.

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Shutdown Fed Federal Reserve Economy 49

PYMNTS

APRIL 6, 2020

A March survey of consumer expectations by the Federal Reserve Bank of New York released Monday (April 6) found mounting worries over job losses, debt and spending as the coronavirus continues to wreak havoc on the U.S. economy. . percent, which the Fed post said was a record reading since the survey debuted in 2013.

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Fed Consumer Federal Reserve Economy 52

PYMNTS

SEPTEMBER 21, 2020

Patrick Vallance, British chief scientific advisor, said there could be 50,000 new infections every day by mid-October if the virus continues spreading at its current rate, FT reported, with new infections doubling every seven days. The lockdowns in question are being considered right now by the U.K. And, the U.S.

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Federal Reserve Fed Central Bank Advisors 104

PYMNTS

MARCH 25, 2020

On March 15, officials with OceansFirst spoke with the Fed and confirmed that they’d be assisting with the crisis by granting 90 days of relief to customers with both mortgage and business loans. The Fed wants to buy various types of debt and is looking at plans to assist smaller businesses. billion in the small town of Toms River.

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PYMNTS

JANUARY 25, 2021

A new study from the Federal Reserve Bank of New York shows that people expect the economy to rebound by next year, according to a press release. 25), said year-ahead total household spending growth expectations rose sharply, with a continuing rebound from the severe downturn in April as the pandemic was beginning, the release stated.

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Fed Consumer Federal Reserve Non-Bank 71

PYMNTS

OCTOBER 10, 2019

economy, such as the services sector. . In addition, although readings on the labor market and the overall economy continued to be strong, a clearer picture of protracted weakness in investment spending, manufacturing production, and exports had emerged.”. Louis Fed, voted for a bolder rate cut of 50 basis points.

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Fed Federal Reserve Credit Cards Economy 43

PYMNTS

JANUARY 14, 2021

economy posted slight gains in the pandemic year of 2020, after closing the books on what was one of the most dismal economic fallouts in history, according to the Federal Reserve’s Beige Book report on Wednesday (Jan. Low real estate inventories combined with rising construction costs caused the continued rise of housing market prices.

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Fed Federal Reserve Economy On-Demand 63

PYMNTS

JUNE 29, 2020

With the coronavirus still surging in the United States, Federal Reserve Chairman Jerome Powell is unsure about how the economy will fully recover, CNBC reports. The path forward for the economy is extraordinarily uncertain and will depend in large part on our success in containing the virus,” he said, per the report.

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Federal Reserve Economy Fed Rules 82

PYMNTS

JULY 7, 2020

coronavirus cases could dampen the recovery of the nation’s economy, according to a Federal Reserve official. Hospitals across the Sun Belt continue to be filled with new coronavirus patients, The Washington Post reported. Last week, the nation’s economy added a record 4.8 The uptick in U.S. Labor Department reported.

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Fed Federal Reserve Economy Small Business 52

PYMNTS

SEPTEMBER 29, 2020

The improvements in economic activity along with rising house and corporate equity prices combined to support continued increases in median and mean family net worth (wealth) between 2016 and 2019,” the Fed noted. The Fed noted that, overall, about 13 percent of families surveyed owned a business. Overall, 98.7 Online Banking

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Fed Federal Reserve Consumer Finance 52

PYMNTS

OCTOBER 7, 2016

The United States economy logged some job growth in September, with wages also on the upswing. The headlines imply that the Fed may raise rates given the steady march of employment gains. The wage growth is perhaps the metric that implies inflation may be in the offing and thus the Fed may act to boost rates (eventually).

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Fed Returns Economy Participant 66

PYMNTS

NOVEMBER 18, 2020

Mortgage originations, including refinances, continued on their upward trend as homeowners continue to take advantage of the low interest-rate environment,” Donghoon Lee , research officer at the New York Fed, said in the report, which tallied numbers through Sept. Student loans reached $1.55 trillion, up $9 billion. .

Credit Cards 124

Credit Cards Consumer Federal Reserve Fed 124

PYMNTS

APRIL 27, 2020

“It’s not realistic to manage 20 million retail bank accounts” at the Fed, contended Cagney, especially with the infrastructure needed to support robust know-your-customer (KYC) and anti-money laundering (AML) activities. That’s a nightmare waiting to happen with the amount of fraud that could occur there.”. But first things first.

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Blockchain Tax Refunds IRS Fed 108

PYMNTS

JUNE 14, 2020

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. percent until it’s confident the economy has weathered the pandemic storm and is on track to see employment rebound and prices remain stable.

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Federal Reserve Fed Economy Central Bank 70

PYMNTS

NOVEMBER 1, 2016

More good news for economy watchers looking for signs of strength going into the national shopping season. That looks like a solid handoff into the holiday season, according to economists, and yet another indication that the Fed will likely raise the interest rate by the end of 2016. economic activity, increased 0.5

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Consumer Fed NOV Adjustments 67

The Finance Weekly

FEBRUARY 16, 2023

Based on the news, the economy should be in a serious downturn, but the opposite seems to be true. If the economy is cooling down and consumers are spending less, why are businesses seemingly taking risks by bringing in more staff? Where is the economy headed? Employers keep hiring at a record pace and the U.S.

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Economy Fed Returns Risk 99

PYMNTS

JULY 15, 2020

will likely dampen the economy as well, Reuters reported. There’s both the direct economic impact of businesses having to close down,” Harker said during a webinar organized by the Fed, as reported by Reuters. Philadelphia Federal Reserve President Patrick Harker says the mass spikes in coronavirus cases across the U.S.

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Federal Reserve Shutdown Economy Fed 73

PYMNTS

SEPTEMBER 20, 2016

Uncertainty in the Chinese economy has encouraged investors to consider the dollar a better investment than other currencies. economy to have grown by 2.6 Industry experts suggest that smaller-scale, grass-fed beef has grown between 25 and 30 percent annually over the past decade, according to AgWeb. The IMF predicts the U.S.

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Fed Economy On-Demand Consumer 68

PYMNTS

APRIL 12, 2020

Minneapolis Federal Reserve President Neel Kashkari doesn’t have hope that the economy will rebound quickly from the effects of the coronavirus pandemic, according to CNBC. Louis Fed President James Bullard , who said last week that he doesn’t think the economy is beyond saving.

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Federal Reserve Fed Economy Governance 63

PYMNTS

JULY 14, 2020

economy won’t be an easy one, according to The Wall Street Journal (WSJ). According to data by Fed economists, the gains in jobs in May and June may not be permanent as the virus continues to linger. million jobs added in May, but the economy is still 14.7 There were 7.5 The pandemic has hit the U.S.

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Fed Federal Reserve Economy Checks 56

PYMNTS

JUNE 10, 2020

percent, with a high of 12 percent, as the economy continues to recover from the pandemic. While many Americans are feeling more optimistic about the economy now as opposed to the past few months, inflation is a main concern for many people due to the various disruptions from the virus, recent studies have found. percent median.

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Federal Reserve Fed Economy Finance 52

PYMNTS

JULY 7, 2020

Atlanta Fed Warns Recovery Could Stall As Outbreaks Surge. coronavirus cases could dampen the recovery of the nation’s economy, according to a Federal Reserve official. Hospitals across the Sun Belt continue to be filled with new COVID-19 patients, and business reopenings have leveled off. The uptick in U.S. billion.

Fed 52

Fed Federal Reserve Cross-Border Payments Cross-Border 52

PYMNTS

MAY 30, 2016

The reasons may be sound, namely, as Fed head Janet Yellen pointed out, that the economy is picking up steam. The rate hike to come would in fact be a continuance of policy stated several months back. One place that could be hit by a Fed rate hike? The rate hike could come as early as next month or July. They may not. .

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Fed Federal Reserve Treasury Economy 40

PYMNTS

AUGUST 5, 2019

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. The subprime mortgage fiasco of the past decade is still fresh in the minds of analysts and experts.

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Fed Federal Reserve On-Demand Credit Cards 43

PYMNTS

SEPTEMBER 14, 2016

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. Other Fed officials, however, have been on record as stating that the U.S. stands at 4.9 and for Japan.

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Central Bank Fed Federal Reserve Economy 61

PYMNTS

JUNE 20, 2019

Powell added that the Fed meets “with a broad range of financial sector firms all the time on financial technology.”. With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users,” she said.

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Fed Federal Reserve Cryptocurrency Stablecoins 43

PYMNTS

MARCH 2, 2020

Global supply chains are impacted, as millions of workers living in the provinces of developing and emerging economies like China, Vietnam, South Korea and Malaysia are unable to work at the manufacturing facilities due to quarantine, illness or both. Why We Need A Connected, Digital Economy — Now More Than Ever. We see it everywhere.

Economy 112

Economy Online and Mobile Banking Innovation On-Demand 112

PYMNTS

SEPTEMBER 21, 2020

22), and his prepared comments, seen by FT, show that he plans to defend the Fed against criticism that it hasn't done enough to help small- to medium-sized businesses (SMBs) as compared to its efforts for financial markets. The Fed, he says, has "lending powers," while Congress has "spending powers.".

Fed 70

Fed Federal Reserve Small Business Payroll 70

PYMNTS

MARCH 24, 2020

economy since the coronavirus pandemic began is pointing to a grim future. The Philly Fed conducted the poll among businesses in Delaware, Eastern Pennsylvania and Southern New Jersey between March 5 and 19 — right when the coronavirus scare was beginning to slam the U.S. One of the first Federal Reserve reports to measure the U.S.

Economy 40

Economy Federal Reserve Fed Research 40