"The most important thing is going to be for the carriers, shippers, and workers to come to terms. There's really no substitute for the ports being up and running."
Fed Chair Powell says rates will fall, but 'over time,' adding that the FOMC "is not a committee that feels like it's in a hurry to cut rates quickly."
Visa handles more than 60% of debit card transactions in the U.S. and collects more than $7 billion annually in processing fees, a lucrative business that the DOJ alleges Visa protects through illegal, anticompetitive practices.
The average yield in the U.S. investment-grade and high-yield bond markets fell following the Fed's move, making borrowing more attractive for issuers.
With FedNow, Real-Time Payments, Same-Day ACH, and other emerging products and services, treasurers should be evaluating a range of options for speeding up—and streamlining—payments.