Reposition
The Federal Reserve is the central banking system of the United States comprised on twelve regional Federal Reserve Banks owned by member banks and overseen by an appointed board of governors. The Federal Reserve Bank has a mission of maximizing employment, stabilizing prices, and moderating long-term interest rates, supervising and regulating banks, enabling stability in the US financial system, and facilitating banking services for banks and the government. The FedNow Service is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services. The FedNow Service will be deployed in phases, with the initial launch taking place July 2023.
Berlin-based payment software FinTech Payrails has raised $32 million in new funding. The company’s Series A round, announced Thursday (June 12), will help the company speed product innovation and exp...
How Crypto Loans Are Reshaping Banking Without Banks
Klarna is piloting a debit card called Klarna Card in the U.S. The card will also launch in Europe later this year. The Swedish fintech has been trying to shift its image from “buy now, pay later” pos...
California has taken a step closer toward embracing crypto after a bill allowing state departments to accept digital currencies sailed through the state’s lower house with a unanimous vote and is now ...
A leading economist contends a recession is now more likely than not due to the Trump administration’s trade wars, and that the U.S. could suffer the biggest “stagflationary” shock in decades. “We may...
European officials are making no secret of wanting the euro to seize upon wavering confidence in the U.S. dollar. European Central Bank President Christine Lagarde said this week that a shifting geopo...
The personal consumption expenditures price index, the Federal Reserve’s key inflation measure, increased just 0.1% for the month, putting the annual inflation rate at 2.1%. Core inflation also was at...
The People’s Bank of China trimmed the 1-year loan prime rate to 3.0% from 3.1%, and the 5-year LPR to 3.5% from 3.6%. A slew of state-backed commercial lenders moved to cut their deposit rates by as...
Bitcoin has been thrust back into the spotlight by extreme price swings this year, with U.S. president Donald Trump’s assault on the global trade order resulting in wild predictions of total U.S. doll...
Americans’ feelings about the US economy remain in the doldrums after President Donald Trump’s tariffs: Consumer sentiment continued its freefall this month, settling in at a near-record low. The Univ...
