The Fed: Big questions ahead for Fed as banking evolves, regional officials agree

Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta, wants to keep consumers in the center of Fed deliberations about financial services, but notes that there are good reasons some people may have for being “unbanked.”

The Federal Reserve faces a dramatically changing financial system dominated by new technologies, three of its regional presidents acknowledged Tuesday.

Esther George, president of the Kansas City Fed, Charles Evans of the Chicago Fed, and Raphael Bostic of the Atlanta Fed discussed the new questions for the central bank in its role as regulator and steward of the economy at a conference in New York held by The Clearing House, a payments company owned by the banks.

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