Announcing FedNow(SM) Service features and functionality

Federal Reserve Board Governor Lael Brainard marked a milestone on August 6, 2020, when she announced the FedNow Service’s features and functionality. Brainard was accompanied by Kansas City Fed President Esther George and FedNow Program Executive Ken Montgomery for the livestreamed announcement, reflecting the Federal Reserve’s efforts toward establishing an infrastructure that will support instant payments in the United States.