By Nomi Prins, Editor, Inside Wall Street with Nomi Prins
Its new digital payments system, FedNow, will debut in July.
According to Richmond Fed President Tom Barkin, it will create "a leading-edge payments system that is resilient, adaptive, and accessible."
Now, if you're a regular reader, you probably knew this was coming.
I've written before about the government's desire to move away from physical cash and towards a central bank digital currency (CBDC).
But that desire had been pretty wishy-washy up until this point.