Birdwatch Note Rating
2023-04-07 12:31:03 UTC - NOT_HELPFUL
Rated by Participant: B65E6D540B6EF683DF969A320E058B3632C298B57B1EC3E87EB4FCAC148B2706
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