Archive for July 2022
Consumer prices up 9.1 percent over the year ended June 2022, largest increase in 40 years
Over the 12 months ended June 2022, the Consumer Price Index for All Urban Consumers increased 9.1 percent. The 9.1-percent increase in the all items index was the largest 12-month increase since the 12-month period ending November 1981. Read The Full Story>
Read MoreThe Federal Reserve Bank of Boston and Massachusetts Institute of Technology release technological research on a central bank digital currency
The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology today released the findings of their initial technological research into a central bank digital currency, or CBDC. The published research describes a theoretical high-performance and resilient transaction processor for a CBDC that was developed using open-source research software, OpenCBDC. This collaborative effort, known…
Read MoreBoston Fed, MIT unveil model for electronic cash as policymakers mull whether to launch it
Researchers say the prototype can handle 1.7 million transactions per second Some members of the Federal Reserve are continuing to explore the launch of its own digital dollar, as the Federal Reserve Bank of Boston on Thursday unveiled its first attempt at designing an electronic form of cash. The Boston bank’s research, conducted in a collaboration…
Read MoreBoston’s Federal Reserve says it has solved technical challenges of a ‘digital dollar’
It could settle payments in under two seconds and handle 1.7 million transactions a second. The US Federal Reserve is continuing its research into a “digital dollar” and has unveiled a technical specification for how it might work, The Washington Post has reported. Researchers designed a system that can handle more than 1.7 million transactions a…
Read MoreFederal Reserve Chair Jerome Powell Says U.S. Government Looking into Own Digital Currency
Federal Reserve Chair Jerome Powell said Thursday that the government is exploring the possibility of issuing a new type of digital currency amid the rise of cryptocurrencies. Powell said that the Federal Reserve would be publishing a discussion paper sometime during the summer of 2021 that would focus on the possible creation of a central…
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