The Digital Business Networks Alliance, a Federal Reserve-sponsored group, announced the first successful transmission of an electronic invoice.

The FedNow system allows financial institutions to instantly transfer money to customers any day, anytime.

The former Treasury secretary sees rates headed higher in the short run, and U.S. taxes rising significantly in the longer run.

The Treasury Department's top official for financial markets and stability expressed little urgency over the federal government's need to prepare for the potential launch of a digital U.S. dollar.

A recent study on the various projects undertaken by central banks around the world has found that the most commonly named motivation is preserving their role in monetary provision.

The consumer price index was up 7.7% from a year earlier, the smallest annual advance since the start of the year and down from 8.2% in September.

A report from the U.S. Treasury Department didn't say the U.S. should adopt a digital currency, but did recommend it start laying the groundwork in case it ever decides to do so.

U.S. consumer prices rose in March by the most since late 1981, reinforcing pressure on the Fed to raise interest rates even more aggressively.

Policy makers voted 8-1 to lift their key rate to a target range of 0.25% to 0.5%, the first increase since 2018, after two years of holding borrowing costs near zero.

Janet Yellen won confirmation to become U.S. Treasury secretary, building out President Joe Biden’s team as the administration struggles to win bipartisan support for a $1.9 trillion COVID-19 relief plan for shoring up a weakening economic recovery.