Once again, spot-on. The only thing I've ever said, in regards to FedNow & CBDC, is that the institution of the FedNow system will make it easier in the future to force the adoption of a CBDC, but not that FedNow IS the CBDC or has a CBDC in its current state.
Since all FedNow amounts to is a bank-to-bank payments system that settles instantly, this is a way for the Federal Reserve to prop up any financial banking institution on the verge of failure, whether due to insolvency or a bank run, to further obfuscate the activities of the Fed and the financial system.
It might actually lead to LESS transparency, rather than more, in terms of regulatory oversight.
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