All payments methods will continue to evolve, and the Federal Reserve’s role will also evolve as we will continue to work to fulfill our mandate to foster a reliable, efficient, and accessible system.
It is not by chance that you preserve price stability for 332 million fellow citizens over almost 13 years as we have done. Now we are experiencing a global crisis – the worst since the Second World War. And in these exceptionally demanding circumstances we had to take non-standard measures for monetary policy reasons.