News and Media
News Highlights
Federal Reserve Announces that its New System for Instant Payments, the FedNow® Service, is Now Live
The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.
“The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient,” said Federal Reserve Chair Jerome H. Powell. “Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to instantly access funds when an invoice is paid.”
FedNow FAQ available here.
CNBC Exclusive: San Francisco Fed President Mary Daly – Too Early to Declare Victory on Inflation, July 13, 2023
President Daly joined CNBC’s Squawk on the Street with Sara Eisen and Steven Liesman. “Right now, all my attention is on decidedly if we have to hike more and how much more we need to hike in order to get inflation down to 2%,” she said.
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President's Speeches
USC Sol Price School of Public Policy Commencement Address 2023
Los Angeles, CA
Calibrating Policy in an Uncertain Time
Remarks in coordination with the Salt Lake Chamber, 2023
Salt Lake City, UT
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Press Releases
Statement on Transparency and Accountability by the 12 Federal Reserve Banks
The Federal Reserve Banks are committed to transparency and accountability and each Reserve Bank has existing procedures for providing information to the public. In the interest of further strengthening transparency and accountability, the 12 Reserve Banks have agreed to adopt a common policy for public requests for information and expect to implement this policy by the end of this year.
SAN FRANCISCO – The Federal Reserve Bank of San Francisco announced the newest members of the Twelfth District’s Community Depository Institutions Advisory Council (CDIAC), effective January 1, 2023.
The new CDIAC members are Catherine Ngo, chair of Central Pacific Financial Corp, Honolulu, Hawaii; Denise Portmann, president and chief executive officer, Bank of the Pacific, Aberdeen, Washington; and Spencer White, president and chief executive officer, Utah Independent Bank, Salina, Utah.
