Overall, the current economic recovery appears moderate in pace, but sustainable. The economy is thus unlikely to fall into recession due to domestic factors. In the corporate sector, profitability has substantially improved, as the adjustment in excess capacity and employment has finally come to an end.
To provide everyone with the ability to send and receive funds securely on a 24x7x365 basis, banks need to embrace and invest in real-time innovations, and the Federal Reserve needs to provide a safe and efficient real-time interbank clearing and settlement service accessible to all banks.