Browsing: Federal reserve

Economy

A tight labor market, inflation running well above the Federal Reserve’s 2% target and a deteriorating near-term inflation outlook prompted the Federal Open Market Committee to move ahead with a 75 basis point rate-hike in June—the highest rate increase in 28 years—according to minutes released today.

Economy

In a move to slow the specter of inflation, the Federal Reserve today increased the target range for the federal funds rate by three-quarters of a percentage point to 1.5% to 1.75%—the central bank’s most aggressive hike since 1994.

Newsbytes

The Federal Reserve signaled that it intends to delay the implementation of the International Organization for Standardization’s 20022 message format for the Fedwire Funds Service to sometime in the first quarter of 2025. T

Newsbytes

The creation of a central bank digital currency “should only be pursued as a final option to meet clearly defined public policy goals that cannot be achieved through payments innovations that leverage existing digital dollars,” the American Bankers Association told the Federal Reserve in a comment letter.

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