It’s official, here comes FedNow (also CBDC)

The Federal Reserve announced, in May 2023, they will launch the new FedNow payment system. It’ll make payments instant instead of taking days, but at what cost?

Today, we use the ACH system which is already run by the Fed. Will the new system really be an improvement, or take us another step closer to a digital dollar?

We discussed this subject in the past:

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And yet, the blind will be all in and think it’s a wonderful new system for equality!

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The Biden administration is still looking at a Central Bank Digital Currency (CBDC). Here’s a White House brief. It’s all still in the discovery phase, but will probably keep pressing forward.

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I wonder just how fast this will go!