Members of Congress have been pushing for the Federal Reserve to create a system like FedNow for years.

“I could be supportive of a 50 basis point rise in the future — but not at this meeting,” said Patrick Harker.

The monthly gauge rose 3.8%, showing that Americans are eager to shop despite inflation. It could further push the Fed to hike rates.

Standard transactions through the ACH system aren’t instantaneous — they can take several days.

It all depends on how much inflation the central bank sees in the economy.

Here’s how you’d buy a Mountain Dew and a Slim Jim with digital cash.

The central bank will scrutinize the employment cost index for 2021’s fourth quarter for signs that rising pay could fuel rising prices.

Bank investors expect continued strength in 2022 because yields on loans could rise along with Federal Reserve rate hikes.

There wasn’t a Black member of the Fed’s board of governors until 1966. Part of the problem: too much emphasis on Ivy League economists.

Despite Federal Reserve action, inflation may persist for homes, but gasoline and food prices may respond more quickly.