> It boggles my mind that it has taken this long and a pandemic to even set the gears in motion

The gears were set in motion prior to the Pandemic. They are just saying that the Pandemic reinforces the work they have been doing.

"Since we initiated FedNow one year ago, we have been hitting our project milestones, and today I am pleased to announce the Federal Reserve Board has approved the core features and functionality based on extensive input from stakeholders."