Ep. 2: Is decentralized finance the future? Or a false hope?
Six Hundred Atlantic
Decentralized finance feels like the future. This category of financial services is built on blockchain technology and transacted solely in crypto. It’s executed by automated programs called “smart contracts,” which helps reduce costs. And advocates say DeFi is more democratic: Everyone involved is just an anonymous node on the blockchain, making favoritism impossible. But how will it really play out? Some tell the Boston Fed’s podcast, Six Hundred Atlantic, that it requires too much tech savvy to be truly inclusive. Others worry about the safety of a “trustless system,” where the...
info_outline
Ep. 1: Where does fintech fit into the future of financial services?
Six Hundred Atlantic
Financial technology, known as fintech, is everywhere. If you send money by phone or invest with the help of robo-advisors, you’re using it. Its proponents say by lowering costs, it can expand the range of financial services providers can offer and the pool of people who can afford them. But fintech presents risks, including to privacy. Fintech companies aren’t subject to the same regulations as traditional financial institutions when it comes to handling personal data. And some worry regulatory safeguards aren’t keeping up with fintech advances. Amid the uncertainty,...
info_outline
Understanding the Beige Book and its insights into the economy
Six Hundred Atlantic
What is the Beige Book? It’s the story of the economy that you can’t always see in the numbers. Eight times a year, each Federal Reserve Bank publishes a Beige Book after gathering real-world economic insight from regional business leaders and experts. Mary Burke is a principal economist and policy advisor with the New England Public Policy Center at the Boston Fed. She talks to Six Hundred Atlantic about what the Beige Book is and why it matters to the U.S. economy. Visit bostonfed.org to learn more about the . For more interviews and analysis of the economy in New England...
info_outline
Small business survey: Firms report payments challenges
Six Hundred Atlantic
The Fed’s latest small businesses survey found that 80% of respondents reported challenges related to how they send and receive payments, including credit card processing fees and slow payments systems. Brian Clarke is a payments analyst and deputy director in the Regional & Community Outreach department at the Boston Fed. He breaks down the most important findings from the survey – and how advancements in payments technology might help businesses address their top challenges. Visit bostonfed.org to learn more about from the Small Business Credit Survey. You can read the full...
info_outline
Synthetic Identity Fraud: How AI is Changing the Game
Six Hundred Atlantic
Synthetic identity fraud is a fast-growing and costly type of financial fraud, and its threat is increasing – thanks to generative AI. Criminals use Gen AI to quickly create synthetic identities and make these fake identities seem more like real people so it’s easier to use them to steal. Federal Reserve payments fraud expert Mike Timoney discusses what synthetic identity fraud is and how it’s evolved. He says one of the best tools to stop thieves who use generative AI in synthetic identity fraud … is AI. Timoney is a vice president of secure payments at the Boston Fed. Visit...
info_outline
Interview: More Ways to Pay with Joanna Stavins
Six Hundred Atlantic
There are more ways to pay than ever, and payments are critical to the economy. Their safety and efficiency significantly impact the nation’s fiscal health. Boston Fed senior economist Joanna Stavins discusses the payments evolution and what to watch out for.
info_outline
Interview: Lottery trends with Riley Sullivan
Six Hundred Atlantic
New Englanders love the lottery, and it’s long been an important source of public funding. But it’s not the only option for people’s gambling dollars. Boston Fed researcher Riley Sullivan talks about lottery history, policy, and trends.
info_outline
Interview: New Englanders aren’t moving as much with Pinghui Wu
Six Hundred Atlantic
The story after the pandemic started was that people were relocating more. But now, New Englanders just aren’t making as many moves, either short- or long-distance. Boston Fed economist Pinghui Wu talks about the trend and what it means.
info_outline
Interview: Working Places at 10 with Colleen Dawicki
Six Hundred Atlantic
How can smaller cities recover after their industry disappears? The Working Places initiative exists because Boston Fed researchers wanted to answer that question. On its 10th anniversary, director Colleen Dawicki discusses successes and lessons learned.
info_outline
Check fraud with Mike Timoney
Six Hundred Atlantic
Check fraud is on the rise, even as the number of checks in circulation is dropping. Why? Boston Fed payments fraud expert Mike Timoney discusses why checks are an attractive target for thieves and how consumers can protect themselves.
info_outlineThe headlines during the pandemic spoke of a Great Resignation. And millions of “missing jobs.” And a mass and permanent exodus of women from the workforce. But during the pandemic, things weren’t always what they first appeared to be.