Many observers are treating China’s plan for a central bank digital currency (CBDC) as a strictly progressive, technical move that other nations should emulate.  The United States, in particular, is concerned that China already has a large head start, which may threaten the dollar’s dominance as a…

(This editor's note is cross-posted from the  Spring/Summer 2021 edition of the Cato Journal.) In 1996, Cato held its 14th Annual Monetary Conference, “The Future of Money in the Information Age.”  The proceedings, along with additional essays, appeared in a book with the same title in 1997. …

Christopher Waller

In his first speech as a member of the Federal Reserve’s Board of Governors, Christopher Waller defended Fed independence and reassured his audience that “deficit financing and debt servicing issues play no role in our policy decisions and never will.”  His goal was to dispel the “narrative”…