Anyone who was paying attention should have realized this was coming. I dont know how many videos I came across proclaiming that FedNow is a CBDC. These people do not even know what they are talking about.

Powell was against CBDCs from the start. He understands what it will do to the bankers and he is not about to screw them over.

You are right, the Fed and BOJ both ditched the idea of CBDCs, at least for now.