The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said Wednesday.
The Federal Reserve’s new real-time payments system known as FedNow is expected to go live as early as May 2023, a Fed official said Monday.
As Americans ramped up spending, supply chains remained squeezed by shortages of workers and raw materials and this magnified price pressures.
