The Fed Enters the World of Real-Time Payments
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Vanity McDaniel provides an update on FedNow, the first new payments platform launched by the Federal Reserve in 50 years, and why the Fed decided to facilitate real-time or "instant" payments in the financial system. McDaniel is a senior payments business advisor at the Federal Reserve Bank of Richmond. Full transcripts and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2023/speaking_2023_05_24_fednow
The Fed Enters the World of Real-Time Payments