⁍ Brainard spoke at a meeting about the development of the central bank’s FedNow payment system.

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⁍ In prepared remarks, Brainard did not comment on monetary policy or the economic outlook.

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– The Federal Reserve kicked off its two-day meeting on Thursday with a low-key press conference by Fed Governor Lael Brainard, reports the Wall Street Journal. Brainard didn’t comment on the state of the US economy or the Fed’s expected rate hike later this year, but said the central bank is working on a new payment system called FedNow that would allow consumers and businesses to easily make payments to the Fed.