Lael Brainard: Supporting fast payments for all

Speech by Ms Lael Brainard, Member of the Board of Governors of the Federal Reserve System, at the Fed Payments Improvement Community Forum, sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois, 3 October 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

The Role of the Federal Reserve in Ensuring Safe and Reliable Payments

It is a pleasure to be here in Chicago today to talk about payments. The confidence that payments will be timely and dependable is a cornerstone of America's dynamic and resilient economy.

Today, Americans take the reliability and safety of their payments for granted. But that was not always the case.