[jameshart]

The Federal Reserve doesn’t want to be in the business of managing all the infrastructure of payments.

Banks offer a deposit product that lets you do useful things like ‘get your salary paid directly into your account from your employer’s account’, and ‘use a debit card to authorize transferring a couple of bucks to Starbucks’s account’.

[bombcar]

> The Federal Reserve doesn’t want to be in the business of managing all the infrastructure of payments.

I mean they're trying to work with it: https://www.federalreserve.gov/paymentsystems/fednow_about.h...

[jameshart]

Fair - although still through depository banks.