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“#Fed blames ‘operational error’ that crashed Fedwire” The Federal Reserve said it is restoring services that were thrown offline Wednesday by an “operational error” that spurred outages in a dozen areas, including check clearing and Fedwire, which handles trillions of dollars in transactions daily for the world’s biggest banks. “A Federal Reserve operational error resulted…
“# All of the Federal Reserve’s wire and ACH systems are down ” All of the services available through the Federal Reserve’s online portal have been down for more than an hour. According to the Federal Reserve Bank Services’ website, the bank is experiencing a disruption in its account services, central bank, Check 21, check adjustments,…
“#Markets pop as Fed chair Jerome Powell commits to low interest rates” Federal Reserve Chairman Jerome Powell reiterated plans to keep interest rates close to zero and asset purchases humming along despite signs that the US economy is beginning to recover from the pandemic. After telling the Senate on Tuesday that he was concerned about…
“# Did $50K ‘trigger’ Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week ” Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run — what’s next for hodlers? As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors…
“#Feds reportedly OK Wells Fargo overhaul plan” Wells Fargo could be getting out of the Federal Reserve’s naughty corner, and the megabank’s much-maligned stock is taking a rare move upwards on the news. According to a Wednesday report from Bloomberg, the Fed has indicated that it will accept the bank’s latest governance overhaul plan, a…
“# People don’t want a ‘non-uniform currency’ like Bitcoin, says Fed president ” James Bullard, president of the Federal Reserve Bank of St. Louis, seemingly doesn’t understand why many are looking to cryptocurrency as a medium of exchange instead of a uniform currency like the U.S. dollar. In an interview with CNBC’s Squawk Box today,…
“#Fed finds minority-owned businesses struggle to access credit during pandemic” The vast majority of US small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according to a Federal Reserve survey released on Wednesday. The survey, which was…
“# Biden rejects Bitcoin-sized COVID-19 rescue plan as money printers prime for action ” United States President Joe Biden has rejected a Republican proposal for a COVID-19 relief bill that would have seen $618 billion allocated to struggling American households and businesses. Biden and newly appointed Treasury Secretary, Janet Yellen, dismissed the sum — just…
“# Institutional demand for crypto isn’t subsiding, but impact will be gradual ” For example, just last week, when the currency was hovering around the $30,000 threshold, a whole host of pundits was warning investors to brace for impact, suggesting that the premier crypto asset was on the verge of a correction and could once…
“# Senate committee votes unanimously in favor of Yellen as Treasury Secretary ” Janet Yellen, the former Chair of the Federal Reserve, is one step closer to earning the nomination of Treasury Secretary. The Senate Committee on Finance voted unanimously to approve Yellen’s nomination Friday morning, setting the stage for a full Senate vote. Republican…