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$4.6 trillion is currently sitting in U.S. money-market mutual funds, with another $150 billion in ultra-short bond funds.

The outlook provides a snapshot of the synchronized shock stemming from Russia's attack on Ukraine and the ensuing energy crunch that has inflicted a widespread cost-of-living crisis.

"Cryptocurrency platforms are not exceptional; they must register to operate just like other investment platforms," she said.

"It's fair to say that the demand outlook for trans-Pacific and container shipping generally is receding quickly."

Although disputed transactions represent around 0.06% of Zelle's 5 billion transactions, lawmakers slammed the platform for being unsafe and for refusing to take responsibility when consumers send money to scammers.

"We have got to get inflation behind us. I wish there were a painless way to do that. There isn't."