• Proposal seeks public comment on a new 'payment account' for legally eligible financial institutions to clear and settle payments via Fed services
• Accounts exclude intraday credit, discount window access, and interest; overdrafts prevented via automated controls
• Temporary pause on Tier 3 institution access requests until policy finalization; comment period open for 60 days

• Fed officials discussed inflation and labor market conditions in April
• Committee members debated the pace of interest rate hikes
• No major policy changes announced

• Russia and China agree to revive Power of Siberia 2 pipeline project
• Pipeline would carry 50 billion cubic meters of gas annually from Russia to China
• Iran war disrupts energy supplies, creating fresh incentives for Beijing to consider overland pipeline