Trending: Senators Urge Fed to Expand Fedwire and National Settlement Service

The Federal Reserve is investigating possible effects generative artificial intelligence (AI) may have on productivity, inflation and the labor market, Fed Chair Jerome Powell said Tuesday (July 2). Speaking during a panel discussion at the European Central Bank’s Forum on Central Banking in Portugal, Powell...

This week, the Federal Reserve announced it will keep its benchmark interest rate in the same 5.25%–5.50% holding pattern that it has occupied since last July.  The move went against the expectations of many economists who were anticipating a rate cut, but Fed Chair Jerome...

In testimony before Congress, Federal Reserve Chairman Jerome Powell said that the idea of the United States adopting a central bank digital currency (CBDC) is far from being realized.  Speaking to the Senate Banking Committee Thursday (March 7), Powell said that the Federal Reserve is “nowhere near” moving...

Higher rates. A bit more muted consumer sentiment. The paycheck-to-paycheck pressures continue. On Friday (Aug. 25), the final reading of the University of Michigan’s survey on consumer sentiment for August was released, showing that the index of consumer sentiment dipped to 69.5 from 71.6 in July.   “Consumers...