{"id":2096,"date":"2023-03-20T12:35:11","date_gmt":"2023-03-20T17:35:11","guid":{"rendered":"https:\/\/nakedpolitics.net\/?p=2096"},"modified":"2023-03-20T12:35:13","modified_gmt":"2023-03-20T17:35:13","slug":"the-federal-reserve-announces-its-first-big-step-towards-a-digital-dollar","status":"publish","type":"post","link":"https:\/\/nakedpolitics.net\/?p=2096","title":{"rendered":"The Federal Reserve Announces Its First Big Step Towards a Digital Dollar"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75.png\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-2097\"\/><noscript><img decoding=\"async\" width=\"768\" height=\"328\" src=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75.png\" alt=\"\" class=\"wp-image-2097\" srcset=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75.png 768w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75-300x128.png 300w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75-293x125.png 293w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/03\/image-75-390x167.png 390w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/noscript><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve Bank of the United States has announced that it is launching an instant payment transfer service called \u201c<a href=\"https:\/\/explore.fednow.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">FedNow Service<\/a>,\u201d which has features of a Central Bank Digital Currency (CBDC) and some analysts believe is the first big step towards a \u201cdigital dollar.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On Wednesday, within hours of our&nbsp;<a href=\"https:\/\/thekylebecker.substack.com\/p\/woke-bank-failures-spur-fears-of\" target=\"_blank\" rel=\"noreferrer noopener\">reporting<\/a>&nbsp;that the Silicon Valley Bank and Signature Bank failures could spur renewed calls for the U.S. to implement a CBDC, the&nbsp;<a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/other20230315a.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve announced<\/a>&nbsp;that the U.S. is rolling out the FedNow instant payment transfer service in July.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch,\u201d the announcement read.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe couldn\u2019t be more excited about the forthcoming FedNow launch, which will enable every participating financial institution, the smallest to the largest and from all corners of the country, to offer a modern instant payment solution,\u201d said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive. \u201cWith the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Original Article: <a href=\"https:\/\/nworeport.me\/2023\/03\/17\/the-federal-reserve-announces-its-first-big-step-towards-a-digital-dollar\/\">https:\/\/nworeport.me\/2023\/03\/17\/the-federal-reserve-announces-its-first-big-step-towards-a-digital-dollar\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve Bank of the United States has announced that it is launching an instant payment transfer service called \u201cFedNow Service,\u201d which has features of a Central Bank Digital Currency (CBDC) and some analysts believe is the first big step towards a \u201cdigital dollar.\u201d On Wednesday, within hours of our&nbsp;reporting&nbsp;that the Silicon Valley Bank and Signature Bank failures could spur renewed calls for the U.S. to implement a CBDC, the&nbsp;Federal Reserve announced&nbsp;that the U.S. is rolling out the FedNow [&hellip;]<\/p>\n","protected":false},"author":54,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-2096","post","type-post","status-publish","format-standard","hentry","category-threat-to-america"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2096"}],"version-history":[{"count":1,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2096\/revisions"}],"predecessor-version":[{"id":2098,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2096\/revisions\/2098"}],"wp:attachment":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}