Tagged: federal reserve

August 8, 2023 @ 12:31 pm By JD Alois  |  

The Federal Reserve Bank of New York is reporting that household credit card debt is now over $1 trillion. The  Fed, in its quarterly report, noted that total household debt stands at $17.06 trillion, having risen by $16 billion at the end of Q2 2023…. Read More

July 23, 2023 @ 10:29 pm By Omar Faridi  |  

BNY Mellon (NYSE:BK) announced it is now live on the Federal Reserve’s new instant payment rail, the FedNow Service, making it one of the first banks to begin sending and receiving payments from participating institutions and support payment activity through settlement or liquidity services. FedNow… Read More

July 13, 2023 @ 10:36 pm By Omar Faridi  |  

The Core PCE index is revealed today. Therefore Bitcoin could reach $36 000, with another 2 key indicators suggesting potential growth opportunities in the background, according to  crypto hedge fund manager Thomas Kralow. Here are 3 key catalysts for Bitcoin’s growth: Thomas Kralow, a crypto… Read More

May 17, 2023 @ 8:18 am By Omar Faridi  |  

Jack Henry (Nasdaq: JKHY) announced that it is operationally ready to support the launch of the Federal Reserve’s real-time payments network, the FedNowSM Service. Jack Henry has actively “participated in the development of the newest network, expected to launch in July 2023.” More than 20… Read More

May 11, 2023 @ 7:39 pm By Omar Faridi  |  

Pidgin, a secure real-time payments platform built for the future of payments, is among the first companies in the industry to complete testing and certification for the FedNowSM Service, the Federal Reserve’s new instant payment offering launching in July 2023. The FedNow Service will “enable… Read More

May 3, 2023 @ 3:24 pm By JD Alois  |  

The US Federal Reserve announced a 25 bps increase in benchmark interest rates matching market expectations. While some held hopes for a pause this week, prognosticators are now looking forward to the next meeting in June. What did change in the Federal Open Market Committee… Read More

April 4, 2023 @ 10:30 pm By Omar Faridi  |  

The US Federal Reserve has reportedly selected AutoRek, a global end-to-end financial data control platform, to feature in its FedNow Service Provider Showcase, which connects financial institutions with providers offering real-time payment solutions. Launching in July this year, the FedNow Service – an instant payments… Read More

January 29, 2023 @ 6:00 pm By Omar Faridi  |  

As the “crypto winter” continues to drag on, Bitcoin miners are feeling the effects of the prolonged bear market. Many miners, particularly those operating at a small scale, have been forced to shut down operations due to the lack of profitability. However, for those who… Read More

January 12, 2023 @ 9:49 am By Omar Faridi  |  

The year 2022 was by far the most “eventful” year for the crypto market, according to Jack Tan, the Co-founder of WOO Network. According to Jack Tan of the WOO Network, the industry that has been struggling for years to get mass adoption “took back-to-back… Read More

September 20, 2022 @ 2:06 pm By JD Alois  |  

The Federal Reserve is meeting this week to determine interest rates and the odds on favorite is for a 75 basis point increase to the benchmark rate. While it could go higher – perhaps 100 bps – most market observers believe 75 bps is already… Read More

September 5, 2022 @ 2:17 am By Omar Faridi  |  

After months of investments tumbling in a downward trend, July seemed “to mark a positive turning point for global markets,” according to an update from PensionBee. In fact, China was “the only leading stock market to fall in value.” This brief rebound had “created speculation… Read More

September 1, 2022 @ 1:10 pm By Omar Faridi  |  

The Federal Reserve has reportedly changed the timing of the introduction of its real-time payments solution, called FedNow, to the middle of 2023. The US Federal Reserve is aiming for a full-scale production rollout of the new payments service for somewhere between May and July… Read More

May 15, 2022 @ 9:33 am By JD Alois  |  

The Financial Technology Association (FTA) has issued as statement on the confirmation of four nominees to the Federal Reserve’s Board of Governors, including Chair Jerome Powell, Vice Chair Lael Brainard, Dr. Lisa Cook, and Dr. Philip Jefferson. Penny Lee, CEO of the FTA, stated: “The… Read More

May 5, 2022 @ 2:38 pm By Omar Faridi  |  

The Federal Reserve recently reported that it officially began onboarding pilot participants onto the FedNow Service, “signaling that the initial testing phase of the FedNow Pilot Program is underway.” A few organizations have now successfully “connected and delivered test messages over a pilot version of… Read More

April 15, 2022 @ 4:26 pm By JD Alois  |  

Former Ripple advisor, Michael Barr has been nominated by President Joe Bident to become the Vice-Chair for Supervision of the Federal Reserve. The selection was announced by the White House earlier today. According to the administration, Barr is currently the Joan and Sanford Weill Dean… Read More

March 15, 2022 @ 3:30 pm By JD Alois  |  

Following questions regarding sufficient support in the US Senate, Sarah Bloom Raskin has decided to pull her name for consideration as a Federal Reserve Board Member. Yesterday, Senator Joe Manchin indicated he would not vote to confirm her nomination – potentially leaving the Senate without… Read More

March 14, 2022 @ 3:00 pm By JD Alois  |  

Sarah Bloom Raskin was selected by President Joe Biden to fill a seat on the Federal Reserve Board of Governors. Last January, Biden announced his decision to appoint Raskin as Vice Chair for Supervision of the Federal Reserve. At that time, Biden described Raskin as… Read More

February 18, 2022 @ 12:40 pm By JD Alois  |  

The Federal Open Market Committee has announced new restrictions on senior Fed officials in regards to investing and trading activities. According to a statement by the Fed, under the new rules, senior Federal Reserve officials are prohibited from purchasing individual stocks or sector funds, holding investments… Read More

December 30, 2021 @ 11:07 am By Omar Faridi  |  

Zhikai Chen, Head of Asia Equities at BNP Paribas Asset Management, notes that a number of factors justify their hopes for “a better year after the challenges that 2021 brought to Asian equities, and northern Asian equities in particular.” Chen writes in a blog post… Read More

November 2, 2021 @ 7:25 pm By Tony Zerucha  |  

The founder of deVere Group predicts pending central bank interest rate announcements could cause a rise in the price of major cryptocurrencies this week. Nigel Green said the U.S. Federal Reserve, the Bank of England, the Central Bank of Norway, and the Reserve Bank of Australia,… Read More