Bloomberg Professional Services
January 11, 2024
In this episode of Need to Know, our new series on the topics and issues influencing markets and the global conversation, Ira Jersey, Bloomberg Intelligence US Rates Strategist, delves into the specifics of FedNow, the Federal Reserve’s instant payment service.
He explains the certainty and security that such a system would provide, as well as accessibility. “The idea is that it will be more accessible to people and less expensive than something like Fedwire,” he says. “It basically democratizes the ability of people to have instantaneous payments.”