Tagged: us federal reserve

March 20, 2024 @ 3:01 pm By JD Alois  |  

As anticipated, the US Federal Reserve has held benchmark rates steady while expecting three rate cuts later in 2024. The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent while reiterating its commitment to… Read More

February 6, 2024 @ 3:14 pm By JD Alois  |  

The debt train keeps on running. A New York Fed report published today shares that total household debt has now topped $17.5 trillion as of Q4 2023. If you compare it to the same quarter in 2022, when total debt stood at $16.9 trillion, this… Read More

January 31, 2024 @ 2:47 pm By JD Alois  |  

The US Federal Reserve announced that it has decided to hold benchmark rates steady at a rate of 5.25% to 5.5% today, as the Wall anticipated. The statement issued by the Federal Open Market Committee (FOMC) indicated that job gains have moderated since early last… Read More

November 6, 2023 @ 5:03 pm By JD Alois  |  

The US Federal Reserve recently published a paper on the potential impact of a Central Bank Digital Currency (CBDC) on the financial system. Currently, many jurisdictions around the world are investigating the possibility of issuing a digital currency – including the US. China is already… Read More

November 1, 2023 @ 3:49 pm By JD Alois  |  

The US Federal Reserve held rates steady today following a meeting of the Federal Open Market Committee (FOMC). While inflation remains stubbornly high and economic activity robust, the Fed decided it was better to wait and see if the following months of rapid rate increases… Read More

September 8, 2023 @ 10:33 am By JD Alois  |  

In a speech delivered at the Annual Fintech Conference in Philadelphia, US Federal Reserve Vice Chair for Supervision Michael S. Barr spoke about the Fed’s role in supporting innovation. Barr noted that not that long ago, cash in trucks was the preferred method of moving… Read More

August 28, 2023 @ 12:52 pm By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, along with the Chairman of the Digital Assets, Fintech Subcommittee, French Hill, and the Chairman of the Oversight and Investigations Subcommittee, Bill Huizenga, have sent a letter to US Federal Reserve Chair Jerome Powell, criticizing… Read More

August 26, 2023 @ 1:05 pm By Omar Faridi  |  

The Federal Reserve Bank’s ongoing efforts to ease inflation by increasing net borrowing costs and then cooling demand for products/services could begin to undermine investments in innovative tech that might make the economy more robust in the long-term. This, according to research released this past… Read More

August 13, 2023 @ 10:49 pm By Tony Zerucha  |  

While the US Federal Reserve’s recent announcement of a Novel Activities Supervision Program is a step in the right direction, the work is far from over, the leader of the American Fintech Council believes. The Novel Activities Supervision Program is designed to enhance the oversight… Read More

August 10, 2023 @ 9:26 pm By JD Alois  |  

The US Federal Reserve has announced the creation of the Novel Activities Supervision Program that will be “risk-focused” and in addition to current regulatory processes. The Fed said the Program will focus on “crypto-assets, distributed ledger technology (DLT), and complex, technology-driven partnerships with nonbanks to… Read More

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 26, 2023 @ 9:21 pm By JD Alois  |  

As was expected, the US Federal Reserve increased benchmark rates by 25 basis points today. Markets had long anticipated the move, which pushed rates to the highest they have been in over 22 years. In the Federal Open Market Committee statement, the bank said that… Read More

July 20, 2023 @ 11:41 am By JD Alois  |  

FedNow went live today. FedNow is a payments and transfers service provided by the US Federal Reserve. Approved financial institutions may use the service to enable immediate payments and transfers. Currently, there are 35 approved institutions out of around 9000 banks and credit unions in… Read More

July 20, 2023 @ 11:27 am By JD Alois  |  

FedNow, an instantaneous payments and transfer service brought to you by the US Federal Reserve, is now live. FedNow is available 24/7/365 for approved institutions. According to a statement by the Fed, 35 banks and credit unions, along with the U.S. Department of the Treasury’s… Read More

July 19, 2023 @ 9:29 am By JD Alois  |  

Temenos (SIX: TEMN), a banking as a service provider, has been certified for FedNow, according to a statement from the company. FedNow is a new transfer service providing instant movement of funds, provided by the US Federal Reserve. The FedNow Service will be available to… Read More

June 14, 2023 @ 3:11 pm By JD Alois  |  

The US Federal Reserve has decided to pause rate hikes as it aims to assess the impact of the past rate hikes that have been some of the fastest in history. The Federal Funds Rate will remain at 5 to 5-1/4%. The Federal Open Market… Read More

April 26, 2023 @ 10:41 pm By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, has joined with Representatives French Hill, Digital Assets, Financial Technology, and Inclusion Subcommittee Chairman, and Bill Huizenga, Oversight and Investigations Subcommittee Chairman, to send letters to federal agencies demanding information on the move to de-bank… Read More

March 22, 2023 @ 4:19 pm By JD Alois  |  

As widely predicted by market followers, the US Federal Reserve increased benchmark rates by 25 basis points. Not too long ago, prognosticators were vacillating on whether the March meeting would increase rates by 50 bps or 25 bps. The recent bank crises caused the financial… Read More

March 20, 2023 @ 8:44 am By JD Alois  |  

The US Federal Reserve has made the following statement: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity… Read More

March 19, 2023 @ 4:12 pm By JD Alois  |  

Several government entities have commented on UBS’s recently announced takeover of Credit Suisse. The acquisition was supported by the Swiss government. Credit Suisse faced a crisis of confidence this past week, which could have spilled over into this coming week. Swiss government officials worked to… Read More