Federal Reserve President Loretta Mester Admits That Transactions Using FedNow Can Be Mitigated To Avoid ‘Banking Crisis’ And Bank Runs

Cleveland Federal Reserve President Loretta Mester provided some additional insights to the Fed’s new instant transfer payment called FedNow, which is set to launch later this month.

Two weeks ago the Federal Reserve published a list of banks and creditors that have partnered with them to trial and provide FedNow later this month, with many more expected to sign-up in short order.