Business

Fed policymakers signal comfort with higher inflation

(Reuters) – In the week since the Federal Reserve made a landmark shift in its approach to monetary policy, details are emerging on what it could look like in practice, with two Fed policymakers on Thursday saying they’d be comfortable with leaving interest rates near zero even if inflation rises to levels not seen on […]

Business

US Fed unveils instant payments system alternative to Facebook's Libra

WASHINGTON (AFP) – Noting security concerns posed by Facebook’s digital currency Libra, the Federal Reserve on Thursday (Aug 6) revealed details of its own instant payments system. FedNow will provide households and businesses with instant access to payments, for wages, government benefits or sales, without waiting days for checks to clear, the Fed said. The […]