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The institutions of Britain, Japan, the EU, Sweden, and Switzerland will join forces to consider issuing their own central bank digital currencies.
A standing repo facility would let borrowers convert securities into cash reserves whenever they see fit, instead of relying on scheduled offerings.
The move followed weeks of volatility in money markets, which had raised concerns about the lending system.
"I see no evidence that the U.S. economy is running at capacity or beyond capacity," Kashkari said Thursday.
The Federal Reserve ended the week with yet another attempt to calm money markets and an announcement that more injections were on the way.
The central bank has increasingly become a target of verbal assaults out of the White House ahead of the 2020 elections.
Federal Reserve policymakers have become increasingly divided over how to weigh signs of strains on the economy against still solid growth.
Janet Yellen told us Trump’s attacks on the Fed are ‘a first’ — and stressed the importance of an independent central bank
Pressure on the central bank has reached an unprecedented point, according to former Fed Chair Janet Yellen.
The past 4 Fed chairs teamed up for an op-ed warning against political meddling amid pressure from Trump to cut rates further
The warning appeared to be a rebuke of efforts by President Donald Trump and his administration to drive interest rates lower.
Currently, bank customers have to wait up to several days for transactions to pull through to their accounts.