Fed Floats ‘Payment Accounts’ to Let Fintechs Onto Its Rails
Fed proposes a new ‘payment account’ for fintechs: direct payment rails, no intraday credit, no IORB, hard balance caps. 60-day comment period.
Federal Reserve & Rates
Follow Federal Reserve decisions, interest rates and monetary policy. Explore what changes in short-term rates and bond yields mean, with links to original releases and market explainers. Find your way around ECMSource.
Fed Minutes: ‘Many’ Wanted Easing Bias Out as PCE Hit 3.5%
April FOMC minutes show a hawkish tilt: Miran dissented for a cut, while many wanted the easing-bias language gone as March PCE hit 3.5%.
2-Year Treasury Tests 4.10% as Markets Erase 2026 Fed Cuts
The US 2-year Treasury yield is near a 52-week high at 4.07% as traders price out Fed rate cuts for the rest of 2026.
QE vs QT: How the Fed Balance Sheet Actually Works
A plain-English guide to how the Fed creates reserves to buy bonds (QE) and lets them mature to shrink the balance sheet (QT), with 2026 numbers.
Russell 2000 Drops 2.4% as Long Yields Slam Small Caps
Small-cap stocks led Friday’s selloff with the Russell 2000 down 2.4% as rising Treasury yields rekindled fears about leverage, refinancing, and unprofitable balance sheets.
Bond Duration & Convexity: Why Long Bonds Move Most
What is bond duration? A plain-English guide with the rule of thumb, the formula, and a worked example using current Treasury yields.
30-Year Treasury Hits 5.13% as Long Bonds Sell Off Worldwide
U.S. 30-year yield closed at 5.128% on May 15, 2026 — highest since May 2025. UK, German and Japanese long bonds are also at or near 52-week highs. What broke.
Hot 3.8% April CPI Slams AI Stocks; Nasdaq Falls 1.5%
April CPI printed at 3.8% YoY — the hottest reading since May 2023 — knocking the Nasdaq down 1.5% as Nvidia, Intel and Micron led an AI-led selloff.
Warsh to Take Fed Helm: Powell Named Chair Pro Tempore
The Fed named Powell as chair pro tempore on May 15, 2026, until Kevin Warsh is sworn in as the new chair — closing one era and opening another.
Fed’s Miran Resigns, Handing Trump a Fresh Board Vacancy
Stephen Miran resigned from the Federal Reserve Board on May 14, 2026, giving President Trump another seat to fill ahead of the June FOMC.