Birdwatch Note Rating
2023-04-06 19:15:22 UTC - NOT_HELPFUL
Rated by Participant: 56F26C5F01F57661B581EF6543E517919105EE229805A2D3C6B1B481104CB574
Participant Details
Original Note:
The Fed already does trillions in bank transfers daily w/ FedWire. This new system, FedNow, has been in the works since 2019, and removes the current restrictions of 7pm the prior day to 9pm current day Mon-Fri transfers, making them instant. This is not a digital currency https://www.investopedia.com/terms/f/fedwire.asp https://www.frbservices.org/financial-services/fednow/about.html
All Note Details