Monetary policy has changed significantly in the last decade. How should the Fed move forward?
Ten years after the 2008 financial crisis, economists are beginning to assess the lessons learned. Sometimes we learn the right lessons. Sometimes we learn the wrong lessons.
Price volatility is a big problem in the crypto world. But stable coins like Tether, Sagacoin, and Basis have their own issues.
A fixed money supply is not a good monetary rule. Efforts to move toward more elastic supplies should be welcomed.
The consequences of proposed exit strategies deserve serious attention. Schnabl’s work is a step in the right direction.
Central bankers need not merely be alert to market disequilibria. They must foretell, without the proper information, how the whole market will react to new conditions.
A new blockchain initiative promises to make it easier for refugees transporting wealth.
Thomas M. Hoenig warns that regulators are trying to run regulated businesses rather than police them.
In the case of Argentina, three particular problems call into question the “surprise” explanation of the currency crisis.
Bitcoin is cheap and easy to use. But it has a long way to go before becoming widely accepted.