The Changing Payments Landscape in a Period of Pandemic Recovery

Abstract: Philadelphia Fed President and CEO Patrick Harker delivered remarks at a Global Interdependence Center event in La Jolla, CA. Harker spoke about the financial impact of the pandemic on American families. “We saw Americans embrace new ways of making payments,” said Harker, noting that the consumer shift to online shopping and new technology for payments have “real staying power.” He shared the Philadelphia Fed’s ongoing research tracking key trends in consumer spending habits. “What we have yet to see is how these shifts will play out in the long run — and how they will affect the Federal Reserve’s solemn responsibility of fostering an economy where all Americans can thrive.”

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Speech

Publication Date: 2023-02-10