Improving the Monetary System Since 1983, the Cato Institute’s Annual Monetary Conference has brought together leading scholars and policymakers to discuss important issues in the conduct of monetary policy and steps that might be taken to improve the existing system. The conferences have also considered ideas for…
On October 21, I had the pleasure to give the research keynote address at the annual conference of the Financial Services Centers of America (FiSCA) in Miami. Below are my remarks, in which I critique some policymakers' attempts to promote financial inclusion by restricting consumer choice and…
The French finance minister, Bruno Le Maire, delivered a scathing rebuke to Libra, the Facebook-led digital currency initiative, in the Financial Times this morning. Coming on the heels of several U.S. companies' withdrawal from the initiative after they received threatening letters from Senators Sherrod Brown and Brian…
The Zimbabwe government is back to its old money-printing tricks. As demand for Zimbabwe dollars dwindles, the government has ramped up restrictions on the use of substitutes. Late last month, as reported by Bloomberg News, "Zimbabwe’s government gave the central bank powers to impose civil penalties to…
Back in July, I shared here some thoughts concerning the Fed's conference in Chicago that month, which was dedicated to a review of its tools, strategies, and communications. Among other things, I said I was disappointed by the short-shrift given to NGDP targeting by Lars Svensson's paper…