Macro Musings with David Beckworth cover image

Julie Hill on the History and Recent Developments of Fed Master Accounts

Macro Musings with David Beckworth

00:00

Payment Innovation - Is That Right?

Originally, the Federal Reserve just had accounts for their member banks. In 1980, they expanded the list of institutions that could have access to those accounts. The ACH system now allows money to be automatically deposited in your checking account.

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