Central Banking

Fed's Kohn on evolution of retail payments

In the speech 'Evolution of retail payments and the role of the Federal Reserve' given on 11 September Donald Kohn of the Federal Reserve said technology advances and the increasing use of electronically deposited checks could spell the end of the Federal Reserve Banks' processing of paper checks over the next decades.

In a speech prepared to be delivered at a payments symposium in Las Vegas, Kohn said that if the payments system continues to evolve per expectations "it is possible that in the

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