Birdwatch Note Rating
2023-04-06 16:56:51 UTC - HELPFUL
Rated by Participant: 76AB897E4A7DFFEFCFA659BC1F3B8E24A14EE2195960ADAFDF82F1C427C3B7C5
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