The Board of Governors of the Federal Reserve System has decided to continue the Federal Reserve Payments Study (FR 3066) for another three years without making any changes. This study helps estimate the number and value of cash and non-cash payments in the U.S. from different sources. The Board received a supportive comment from an industry association and plans to publish results in stages to ensure quality and reliability. The detailed results help policymakers, the industry, and the public understand payment activities in the country.
Simple Explanation
The people at the Federal Reserve are continuing a study to see how people pay for things, like using cash or cards, for three more years. They want to make sure they understand how everyone makes payments without changing anything they did before.