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Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.October 19
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Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.August 7
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The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.August 6
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The central bank originally predicted FedNow's launch within five years, but the Fed chairman told House lawmakers that he expects it will happen sooner.November 14
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The payments company’s departure from the association leading Facebook’s Libra cryptocurrency plan is the clearest sign that skeptical policymakers are the plan's biggest obstacle.October 9
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Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates.August 7
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A group of senators on the Banking Committee sent a letter to the central bank chairman grilling him on the agency's efforts to develop a real-time payments system.July 22
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As Facebook's Libra takes shape, Federal Reserve Chairman Jerome Powell says he is "not too concerned" about the impact on central banks.June 19
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In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.April 10
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For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.October 3
![“The urgency with which the emergency [stimulus] payments were spent underscores the importance of rapid access to funds for many households and businesses that face cash flow constraints,” said Federal Reserve Gov. Lael Brainard.](https://arizent.brightspotcdn.com/dims4/default/40758ae/2147483647/strip/true/crop/3998x2251+0+208/resize/460x259!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.amazonaws.com%2F90%2F99%2F26dab0f84aad919e2f91c299ab1b%2Fbrainard-lael-bl-080620.jpg)
