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Policy in good place as recovery evolves, says Fed’s Mester


technologi­cal infrastruc­ture during the past few years.

This contribute­d to facilitati­ng the transactio­ns provided to the business community and its members.”

Al-Sharqi’s forecast reflects the recent announceme­nts made by Qatarbased startups and fintech companies.

Earlier, Qatar-based innovative financial services App, Cwallet, announced that among its top plans for 2021, specifical­ly in the third quarter of the year, is the release of the ‘Cwallet Mobile Money 3.0’.

Cwallet CEO and founder Michael Javier said the plan is “ambitious update” to its current offering, allowing users to pay, shop, and subscribe to favourite brands in the Cwallet marketplac­e, while earning loyalty rewards and cashback bonuses.

He said further investment will also be made internally, with Cwallet expanding its workforce to include expertise in the fields of informatio­n and cybersecur­ity, growth hacking, and customer management.

In a recently-held webinar, Ahmed Isse, co-founder of Dibsy (Pay wise), explained that the company aims to revolution­ise the future of payment solutions in Qatar by helping merchants resolve some of the issues they are facing, thus making online payments easy.

During the webinar, Isse showcased Dibsy’s collect digital solutions (Pay by Link, Plugins, Complete APIs, Recurring Payments), Dibsy Disburse (One to one & One to many), and Dibsy Verify (Customer Validation, Transactio­n Monitoring).

The Federal Reserve’s policy is in a good place right now, said Cleveland Fed President Loretta Mester, while playing down signals from data that she warns will be volatile as the economy reopens.

“The volatility month-tomonth I think is something we should expect, Mester said on Friday in an interview on Bloomberg Television with Michael Mckee. “We’re really at the beginning of this vaccinatio­ns-widely-distribute­d part of the recovery and I think we just have to wait and be a little bit patient and let the recovery continue.” Friday’s retail sales report unexpected­ly showed a stalling out in April, following a sharp increase the previous month.

It comes after another report showed disappoint­ing job growth last month. The two stand in contrast with strong consumer and producer price index figures published earlier this week.

“I think we’re in a good place right now with our policy and we’re going to adjust it as appropriat­e depending on how the actual recovery progresses,” Mester said.

“This is not the time to be adjusting anything on policy. It really is a time for watchful waiting, seeing how the recovery evolves.”

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