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Speaking today at the Federal Reserve Semi-Annual Monetary Policy Report meeting, Fed Chair Jerome Powell stated that the US will have real-time payments very soon. Fed Chair Jerome Powell says the US will have RealTimePayments very soon, saying the potential integration of a CBDC won't arrive for years, whereas the implementation of Federal Reserve Chair Jerome Powell said Friday that he expects President Donald Trump 's tariffs to raise inflation and lower growth, and indicated that the central bank Federal Reserve Chair Jerome Powell offered some new assurances Tuesday about payments routed to the central bank from the Treasury Department, his first comments about the fallout real-time, or instant, payments to their customers around the clock, 365 days a year, benefiting communities across America. Recently, the rise of distributed ledger technology, which offers WASHINGTONFederal Reserve Chairman Jerome Powell said Wednesday that the central bank is nearing a decision on whether to develop its own real-time

Fed Chair Jerome Powell: US Real-Time Payments Coming "Very Soon"

Speaking today at the Federal Reserve Semi-Annual Monetary Policy Report meeting, Fed Chair Jerome Powell stated that the US will have real-time payments very soon. This announcement signals a significant leap forward for the American financial system, bringing it closer to offering instant transaction capabilities comparable to other developed nations.

Fed Chair Jerome Powell says the US will have RealTimePayments very soon, emphasizing the immediacy of this technological advancement. He clarified that the potential integration of a CBDC (Central Bank Digital Currency) won\'t arrive for years, making real-time payments the immediate priority. This distinction highlights the Fed\'s focus on practical, near-term improvements to the existing payment infrastructure.

The benefits of real-time, or instant, payments are substantial, allowing businesses and individuals to send and receive money around the clock, 365 days a year. This will particularly benefit communities across America that rely on immediate access to funds. This development addresses a critical need for faster and more efficient financial transactions.

WASHINGTON—Federal Reserve Chairman Jerome Powell said Wednesday that the central bank is nearing a decision on whether to develop its own real-time payment system, solidifying the commitment to modernizing the payments landscape. Recently, the rise of distributed ledger technology, is a further sign of a new era of finance.

While Federal Reserve Chair Jerome Powell offered some new assurances Tuesday about payments routed to the central bank from the Treasury Department, his recent statements on RealTimePayments focused primarily on the technological infrastructure and its immediate benefits. While related to financial stability, the emphasis remains on the practical improvements for everyday Americans.

Notably, previous statements from Federal Reserve Chair Jerome Powell indicated that President Donald Trump\'s tariffs would raise inflation and lower growth. However, the current focus is on technological advancements and the imminent launch of RealTimePayments. These are separate issues, with the RealTimePayments initiative geared towards improving payment efficiency and accessibility.

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