Birdwatch Note Rating
2023-04-06 17:51:27 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 652108219D6AF0A5C8DF45667CBBFF11CD73AB3496496E1EE4A571D8C1E099AB
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