The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said Wednesday.
The Federal Reserve’s new real-time payments system known as FedNow is expected to go live as early as May 2023, a Fed official said Monday.
Inflation jumped at its fastest pace in nearly 40 years last month, a 7 percent spike from a year earlier that is increasing household expense, heaping pressure on President Joe Biden and Federal Reserve leaders to act.
