Powell has mentioned[0] that the Fed is unable to affect fiscal policy, which is the fastest and best solution to certain economic crises. Does this bring the Fed closer to being able to simply give people money?
FedNow doesn't change anything other than transaction speed & cost. If your concern is the Fed giving people money directly, they've had the technical capability for a very long time.
astrange|2 years ago
The main problem stopping the government from giving you money is that it doesn't know where you'd want them to send the money to.
petronio|2 years ago