Loretta J. Mester: Payments and the Pandemic. Keynote Speech: 20th Anniversary Chicago Payments Symposium – Federal Reserve Bank of Chicago, September 23, 2020.
In her keynote speech, Loretta J. Mester, President and CEO of the Federal Reserve Bank of Cleveland, discussed the impact of the Covid 19 pandemic on the US payments industry. In order to address the payment traffic problems associated with the pandemic, the FedNow real-time payment system should be developed, to which every US citizen and company should be connected. Mester also advocates the introduction of a digital currency by the central banks.