The Days After...Economy / Finance

The Federal Reserve suffers widespread disruption to payment services

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The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to the Fed’s website. Other Fed services are still down, however. In a statement, the Fed blamed an “operational error” and said it is working to restore services and communicate with customers. Banks, businesses and government agencies rely on Fedwire to transfer vast sums of money…

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