Central Banking

US payment system working well says Fed's Stern

The US payments system appears to be working well and there is no need for the Fed to significantly alter its role, Minneapolis Federal Reserve President Gary Stern said on Thursday 29 September.

"The payments system works pretty well and people aren't looking for the Fed or anyone else to make dramatic changes," Stern said after a speech.

Stern did not comment on the economy or monetary policy in the speech "Economic Research and the Role of the Federal Reserve in Payments" at a conference at

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