Odd Lots
417 episodes - English - Latest episode: over 2 years ago - ★★★★ - 614 ratingsBloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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Episodes
Nouriel Roubini Sees A Bad Recovery, Then Inflation, Then A Depression
May 04, 2020 08:00 - 46 minutesDuring the last crisis, the economist Nouriel Roubini earned the nickname “Dr. Doom” for his ominous prognostications about the economy and financial system. While he prefers the moniker “Dr. Realist” Roubini is once again extremely negative. On this week’s episode he explains why he sees a poor recovery, then a bout of inflation, and then ultimately a depression in the wake of this crisis. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
How To Fund The Search For A COVID-19 Vaccine And Boost The Recovery
April 30, 2020 08:00 - 41 minutesThe hunt is on for a clinical therapy to prevent or treat COVID-19. But what’s the best way to go about this? How can governments accelerate this process? And what can governments do now to help a robust economic recovery? On this week’s Odd Lots, we speak with Bill Janeway, an economist and venture capitalist, who has written extensively on how the government can accelerate innovation by the private sector. He explains how his thoughts translate into the medical space and the post-crisis eco...
Adam Tooze On How This Crisis Is Different Than The Last
April 27, 2020 08:00 - 42 minutesIn 2018, Columbia history professor Adam Tooze published his magisterial work “Crashed”, which framed the Great Financial Crisis as essentially a crisis of the global dollar system (as opposed to merely a housing bubble). Now we’re experiencing numerous systemic frailties all at the same time, amid extraordinary difficult times for the real economy, the financial system, and virtually every government around the world. On this week’s episode, Tooze compares and contrasts the last crisis to th...
How The Coronavirus Crisis Pushed The Fed Into Truly Uncharted Territory
April 23, 2020 08:00 - 47 minutesThe fate of the economy remains extremely unclear. However there is little doubt that the Fed has taken dramatic steps to arrest the crisis. Not only has Jerome Powell’s Federal Reserve dusted off old tools that were designed during the last crisis, it’s engaged in unconventional actions, such as lending directly to municipal authorities, as well as becoming a player in the market for private sector corporate debt. Amid this crisis, Nathan Tankus, a researcher at the Modern Money Network, has...
Emerging Markets Have Never Experienced A Crisis Like This Before
April 20, 2020 08:00 - 52 minutesWith major economies around the world coming to a screeching halt, emerging markets are in a squeeze of historic proportions. Not only are they being buffeted by a domestic health crisis, but export industries are getting clobbered at the same time as access to dollars is drying up. On this episode, we speak with Brad Setser of the Council on Foreign Relations on the historic nature of this episode, which countries are particularly vulnerable, and what policies might allow for a way out. Lea...
Why The War On Physical Cash Is A War On Freedom
April 17, 2020 08:00 - 59 minutesCommerce and payments are increasingly digital. This shift from physical to electronic is one that governments and businesses are eager to accelerate for a host of reasons. But what gets lost when we no longer have access to physical cash? On this episode, we speak with Rohan Grey, President of The Modern Money Network and the research director of the Digital Fiat Currency Institute about how governments can introduce digital currencies that enable electronic commerce, while preserving the pr...
Marco Rubio On The Effort To Save Jobs And Get People Working Again
April 15, 2020 08:00 - 33 minutesAt the end of March, Congress passed the CARES Act in an attempt to mitigate some of the massive economic devastation being caused by the coronavirus crisis. A key piece of the legislation includes grants for small businesses that keep employees on their payroll during the emergency. On this episode, we speak with Florida Senator Marco Rubio about the program, what's working, what isn't, and what it will take to move the economy back towards full employment. Learn more about your ad-choices...
How To Stop The Fiscal Emergency Facing U.S. Cities And States
April 13, 2020 08:00 - 45 minutesWith the U.S. economy going into a deep slump, the Federal government has attempted to counteract the pain by increasing spending. But for cities and states, it’s virtually impossible for them to run counter-cyclical fiscal policy. Furthermore, the crisis is draining local coffers due to public health expenditure and the collapse of tax revenue. This has already led to the start of a state and local austerity wave (spending cuts, layoffs, etc.) that could take years to reverse. On this week’s...
Here’s What’s Happening With Those Korean Structured Notes That Bet Against Market Volatility
April 09, 2020 08:00 - 42 minutesEarlier this year on Odd Lots, we did an episode about Korean structured investment products that were sold to retail investors, whose performance was tied to various market indices around the world. Crucially, those payouts were premised on there not being a major crash in those world markets. Obviously, we’ve seen quite the crash. So, for this week’s episode, we’ve gone back to Benn Eifert, the CIO of QVR Advisors, to check out the state of them now. And we also talk, more broadly, about th...
Tom Barrack On The Crisis In The Commercial Real Estate Market
April 06, 2020 08:00 - 42 minutesThe commercial real estate market has been clobbered in this crisis, as restaurants and stores virtually shut down entirely throughout the month of March. On this week’s Odd Lots episode, we speak to Tom Barrack, the CEO of Colony Capital, on the crisis facing the industry, and what he feels needs to be done further to prevent the industry from going into a tailspin. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Zoltan Pozsar and Perry Mehrling On The Historic Crisis Of Financial Market Plumbing
March 30, 2020 08:00 - 56 minutesThe plumbing of the financial system is coming under strain like never before. On this week’s podcast, we speak with two legendary experts on how the money system works: Zoltan Pozsar of Credit Suisse and Perry Mehrling of the Frederick S. Pardee School of Global Studies. They explain the extreme level of stress we’re seeing, what the Fed has done to alleviate, what more needs to be done, and what the post-crisis future may look like. Learn more about your ad-choices at https://www.iheartpod...
How The Crisis Nearly Blew Up One Of The World’s Safest Trades
March 26, 2020 08:00 - 55 minutesIn normal times, U.S. Treasuries are the ultimate safe haven. They are highly liquid and guaranteed to pay out. So when people want to hide out during periods of economic and financial market volatility, you can typically count on there being a strong bid for them. But in the last couple of weeks, the volatility has been so extreme, and the flight-to-cash so severe, that the market stopped behaving as normal. And popular trades involving arbing Treasuries and Treasury bond futures started to ...
A Longstanding Fear About The Corporate Debt Market May Finally Be Coming True
March 23, 2020 08:00 - 43 minutesFor a long time, people have been warning that corporate debt could be the major source of vulnerability in today's economy. And the market meltdown that we've been seeing since the beginning of March could make those fears a reality. On this week's podcast, we speak with frequent Odd Lots guest Chris White of Viable Markets, on how the extreme search for yield in recent years, combined with massive issuance of debt, combined with the idiosyncrasies of the corporate debt market, could be a se...
How A Macro Manager Is Trading On One Of The Wildest Markets In History
March 19, 2020 08:00 - 47 minutesMarkets around the world are so extremely volatile that nobody can think of any perfect precedent. There are shades of the Great Recession, 1987, the period in the wake of 9/11, and other moments of extreme turbulence. This week's special episode was recorded on Monday March 16 with Naufal Sanaullah, a macro strategist at EIA All Weather Alpha Partners. He walked us through his thinking on the market, and even discussed how he was trading things, right then, during the market open. Learn mor...
How Saudi Arabia Delivered A Blow To U.S. Shale Companies At The Worst Possible Moment
March 16, 2020 08:00 - 40 minutesSaudi Arabia recently announced that it was engaging in a full-on price war by pumping oil like crazy. At one point, after the move, the price of Brent Crude plunged 31%. This was a body blow to U.S. shale companies, who are already reeling from falling prices and tightening credit markets. On this week's episode of Odd Lots, we speak with Buddy Clark, a Houston lawyer at the offices of Haynes and Boone about why this came at the worst possible time for the industry, and what could happen nex...
How To Stop The Recession From Happening Right Now
March 12, 2020 12:18 - 39 minutesThe U.S. is on the verge of an economic crisis due to the coronavirus, as people and businesses aggressively pull back on spending. On this week's Odd Lots podcast, we speak with Claudia Sahm, the director of Macroeconomic Policy at the Washington Center for Equitable Growth, about what the government can be doing right now to stop a recession. Claudia has done extensive research on exactly this topic, and now is the moment to put her theoretical work into practice. Learn more about your ad-...
Did Passive Investing Fuel A Bubble In Ultra-Large Tech Stocks?
March 09, 2020 08:00 - 43 minutesQuestions continue to arise over the effect of passive investing, and whether or not it's somehow distorting the market. On this week's episode, we speak to Vincent Deluard, the Director of Global Macro for INTL FCStone Inc., who argues that the endless bid for ETFs have helped fuel a bubble in megacap stocks, which continue to outperform the market. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
How A Profane Subreddit Moved The Market
March 05, 2020 09:00 - 1 hourIn recent weeks, before the stock market plunged, a page on reddit called r/WallStreetBets suddenly started exhibiting enormous influence on a handful of stocks. The emergence of online chat rooms making huge wagers in the market calls to mind the message boards of the dotcom era. But this page is taking it to a new level. On this week's episode, we're joined by Bloomberg News reporter Luke Kawa, who has been covering the page, as well as the page's founder, Jaime Rogozinski, who started it u...
How Iraq Pulled Off One Of The Biggest Sovereign Debt Restructurings Of All Time
March 02, 2020 09:00 - 55 minutesThere are lots of famous debt crises in history, but the story of Iraq's government debt build-up in the 1980s and subsequent restructuring in the early 2000s is probably one of the most unusual. Iraq transformed from a net creditor to a net borrower in a single decade, tapping a bunch of unusual sources (including funds linked to the CIA) for money to finance war against Iran. All that borrowing eventually culminated in one of the biggest debt restructurings in history. On this episode of th...
This Is What The Coronavirus Means For The Chinese Supply Chain
February 26, 2020 09:00 - 39 minutesApple's recent revenue warning reminded the world of how exposed the company is to China, and in particular its factories. As the coronavirus continues to shutter huge swaths of the Chinese economy, this is a potential risk for numerous companies beyond just Apple. On this week's Odd Lots podcast, we speak with Dan Wang, a China tech industry analyst at Gavekal Dragonomics about how this, along with pressure on Huawei, are putting extraordinary pressure on the Chinese supply chain. Learn mor...
The Jeweler From Uncut Gems Explains Why People Go Crazy For Gold And Diamonds
February 24, 2020 09:00 - 45 minutesOne of the best recent movies was Uncut Gems, in which Adam Sandler plays a Diamond District jeweler with an addiction to gambling and risk. It turns out, one of the workers in Sandler's shop was played by an actual, real-life jewelry dealer. On this week's episode, we speak with Maksud Agadjani, the founder and owner of TraxNYC, which sells a range of items, from traditional bracelets and necklaces to highly customized, 3D-printed items for celebrities. Agadjani talked to us about the movie,...
What the Coronavirus Means for Pandemic Bonds
February 17, 2020 09:00 - 30 minutesBack in 2017, the World Bank issued the world's first pandemic bonds. The bonds are meant to shift some of the financial risk of a global pandemic on to investors, but they've been criticized for having 'triggers' that are too tough to generate payouts. Now, as the coronavirus outbreak continues to spread, it's worth looking at how these bonds are structured and what they can tell us about the future of public-private partnerships in finance. In this episode of Odd Lots, we speak with Olga Jo...
Why The Rise of Passive Investing Might Be Distorting The Market
February 10, 2020 09:00 - 47 minutesOver the last decade or so, we've seen an incredible rise in so-called passive investing. While definitions differ over what this means, we've seen more and more money poured into index funds (which own every stock in a given basket). Meanwhile, money has been yanked away from money managers who attempt to select individual stocks. One school of thought argues that this is a positive, in part due to lower fees. But is there a dark side? On this week's episode, we speak to Mike Green of hedge ...
How To Use Fiscal Stimulus To Stave Off The Next Recession
February 03, 2020 09:00 - 1 hourThere's a growing consensus that governments need to act more aggressively in using fiscal policy to stave off the next recession, and that monetary policy simply isn't powerful enough. But how do you actually go about it? What do you spend the money on, and how do you get politicians to disburse it in a timely manner? On this week's Odd Lots, we speak with Claudia Sahm, a former Fed economist who is now at the Washington Center for Equitable Growth, on ways to systematize and automate an ear...
Perry Mehrling Explains Why "The Money View" Is Key To Understanding Financial Markets
January 27, 2020 09:00 - 50 minutesEven to this day, there are economists who don't understand money or don't think that money is an important aspect of the economy. They see the world as still operating essentially under a barter system, with money only there as a means of lubricating transactions. But this is precisely the opposite way you should be looking at things, according to this week's guest. Perry Mehrling is a Professor of International Political Economy at the Pardee School of Global Studies, Boston University, and...
Why The Transition To Clean Energy Is Happening A Lot Faster Than People Realize
January 24, 2020 09:00 - 42 minutesAt the recent World Economic Forum in Davos, there was a lot of talk about the need to change the world's energy usage in order to address climate change. While it's easy to get cynical about business leaders and politicians talking about sustainability on a mountaintop in Switzerland, it turns out that a lot is already happening right now. On the latest Odd Lots episode, we speak with journalist and analyst Gregor Macdonald, the editor of The Gregor Letter, about what's actually happening on...
How An Exotic Investment Product Sold In Korea Could Create Havoc In The U.S. Options Market
January 20, 2020 09:00 - 52 minutesWhat's the connection between low global interest rates, Korean retail investors, and the U.S. options market? On this week's Odd Lots podcast, we discuss the fascinating world of Korean structured notes with Benn Eifert of QVR Advisors. He explains how a very exotic type of investment sold to Korean retail investors could, through a series of hedging requirements, end up causing massive volatility in the market for S&P 500 options. Learn more about your ad-choices at https://www.iheartpodca...
What It's Like to Be an Investor in Iran's Market Right Now
January 13, 2020 09:00 - 37 minutesIran's stock market is one of the most unfamiliar equity markets in the world. With Iran under stringent U.S. sanctions, it's hard to even find data on where Iranian stocks are trading. Then there's geopolitical risk. This month the U.S. killed Iran's top general Qassem Soleimani and Iran retaliated by firing missiles at U.S.-Iraqi air bases, sparking a sell-off in global markets. So what happened to Iranian stocks in this time period? On this week's episode of Odd Lots, we speak with Maciej ...
What It's Like To Be An Investor In Iran's Market Right Now
January 13, 2020 09:00 - 37 minutesIran's stock market is one of the most unfamiliar equity markets in the world. With Iran under stringent U.S. sanctions, it's hard to even find data on where Iranian stocks are trading. Then there's geopolitical risk. This month the U.S. killed Iran's top general Qassem Soleimani and Iran retaliated by firing missiles at U.S.-Iraqi air bases, sparking a sell-off in global markets. So what happened to Iranian stocks in this time period? On this week's episode of Odd Lots, we speak with Maciej ...
Introducing Prognosis Season 4: America's Broken Health-Care Costs
January 09, 2020 09:00 - 2 minutesAmericans are paying more and getting less for their health care than ever before. On the new season of Prognosis, reporter John Tozzi explores what went wrong. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Why So Many Emerging Markets Are Blowing Up Right Now
January 06, 2020 09:00 - 33 minutesFrom Argentina to Chile to Lebanon, we're seeing a high degree of political and economic uncertainty among emerging market economies. On this week's Odd Lots podcast, we speak with Paul McNamara, a veteran fund manager at GAM Investments. McNamara explains why this moment is so turbulent, and what it will take to settle these economies down. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Why It's A Big Problem That Economists Still Don't Understand Money
December 30, 2019 09:00 - 43 minutesThe severity of the Great Financial Crisis took economists by surprise, particularly the ones who believed that markets were largely stable and self-regulating. So why did so many eminent thinkers get it so wrong? On this week's episode of Odd Lots, we speak with Lord Robert Skidelsky, an economic historian who is known for being the pre-eminent biographer of John Maynard Keynes. Skidelsky is the author of the new book “Money and Government: The Past and Future of Economics”, and he tells us ...
A Human Rights Activist Explains Why Bitcoin Is So Important to His Work
December 23, 2019 09:00 - 44 minutesWhen people think about Bitcoin, they often think about neo-goldbugs who hate inflation and the Federal Reserve. But beyond the financial case for it, there's a moral, human rights case as well. On this week's podcast, we talk with Alex Gladstein, the Chief Strategy Officer at the Human Rights Foundation. He explains why he sees Bitcoin as an essential tool in his fight for human rights all around the world. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
How Online Dating Is Reshaping the Entire Economy
December 16, 2019 09:00 - 50 minutesBy this point, everybody knows that online dating is a massive phenomenon, reshaping the social habits of the young and the single. But perhaps people are still not appreciating the significance of it. On this week's podcast, we speak with Dan McMurtrie, a hedge fund manager, who has done significant research on the impact of online dating. Through his work, he has found huge potential ramifications in terms of family formation, economic development, commerce, and more. Learn more about your...
How Nearly Two Decades Of Fed Policy Contributed To Bubbles, Busts, And A Boom In Debt
December 09, 2019 09:00 - 33 minutesMany people like to claim that the Federal Reserve is responsible for the high degree of leverage and speculation in the economy. But the mechanism via which this happens is often misunderstood. On this week's episode of Odd Lots, we speak with Srinivas Thiruvadanthai of the Jerome Levy Forecasting Center about how the Fed's goal of inflation targeting contributed to a massive buildup in private debt. As he explains, the approach to minimizing the volatility of inflation at a low level create...
How Bond Defaults Are Changing China's Markets
December 02, 2019 09:00 - 34 minutesFor years, defaults were few and far between in China's corporate bond market. Most investors thought that the Chinese government would never let companies — whether they be state-owned enterprises (SOEs) or private businesses — actually default on their debt. But times have changed. Defaults by private companies have been rising and there's even a question mark over the implicit government guarantee in debt sold by SOEs. One state-owned enterprise in Tianjin has proposed a 64% haircut for bo...
This is How Economic Crisis and Precarity Shaped the Millennial Generation
November 25, 2019 09:00 - 38 minutesHow do Millennials view investing and spending? How do the rising costs of healthcare, education, and housing affect their economic outlook? How does fear of climate change affect one's long-term life choices? These questions are crucial for understanding the perspective of Millennials as they increasingly enter middle age. On this week's episode, we speak with freelance writer Karen Ho about her perspective as both a member of this generation and a journalist who has covered their attitudes ...
How A Former 'Magic: The Gathering' Player Became the Top Tournament Poker Player Of All Time
November 18, 2019 09:00 - 37 minutesAccording to the website The Hendon Mob, the top tournament poker player of all time is the American Bryn Kenney, who has won a staggering $55.5 million. In fact, he got there in just the last six months, having won $20.5 million at a single tournament! So how did a former Magic: The Gathering player vault to the top of this leaderboard? On this week's episode of Odd Lots, Kenney explains how it all came about. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Why The Repo Markets Went Crazy, And Why December Could Be Even Worse
November 11, 2019 09:00 - 56 minutesBack in September, chaos erupted in short-term funding markets, as the cost for financial institutions to borrow reserves soared. Immediately a major debate broke out over whether this represented a systemic problem for the financial system or merely a technical problem with the "plumbing." Things have quieted down since September, but the debate hasn't stopped. And there's still no permanent fix. On this week's Odd Lots podcast, we spoke with Zoltan Pozsar of Credit Suisse, who has a reputat...
An Anthropologist Explains How Wall Street Culture Reshaped The Entire Economy
November 04, 2019 09:00 - 45 minutesWhere did the notion come from that the obligation of a company's management is to maximize shareholder returns, even if it means pain for workers? On this week's Odd Lots podcast, we speak with Karen Ho, a professor of anthropology at the University of Minnesota, who can answer the above question. Unlike your typical anthropologist, she did her field work inside a Wall Street bank to discover how the specific culture of finance bled through to the real economy. Learn more about your ad-choi...
Why Taiwanese Life Insurers Are The Great 'Whodunit' Of The Financial World
October 28, 2019 08:00 - 52 minutesYou probably haven't thought much about the Taiwanese life insurance industry. Why would you have? But they're among the most fascinating entities in the financial world. And for a long time they've been a source of incredible mystery. They've built up a gigantic position in foreign, US-dollar denominated assets in order to fund domestic liabilities denominated in Taiwanese Dollars. But how do they hedge this currency mismatch? Nobody has figured it out until now. On this week's podcast, we s...
Coming Soon: Travel Genius Season 2
October 25, 2019 08:00 - 2 minutesBloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6. ...
How Private Sector Balance Sheets Changed Recessions
October 21, 2019 08:00 - 44 minutesCan the U.S. economy have a recession without it turning into a crisis? In the old days, such garden-variety recessions were fairly common. These days, less so. But why is this? And can we go back to the old-style soft recessions? The issue, arguably, is that private sector balance sheets (both debts and assets) have grown so large relative to incomes, that the value of financial assets swamp effects from changing incomes. On this week's Odd Lots, we speak with David Levy of the Jerome Levy F...
Why Governments Haven't Learned The Lessons Of Japan
October 14, 2019 08:00 - 42 minutesIt's well known that Japan has (until recently) been mired in years of mediocre economic growth. And policymakers and economists use Japan as a warning for how developed economies can enter into prolonged slumps. But has anyone learned the lessons of Japan? In our latest episode, we talk to Richard Koo of the Nomura Research Institute, about his concept of the "Balance Sheet Recession" and why developed economies with lots of debt don't behave the way they do in textbooks. He explains how the...
The Odd Lots Variety Show
October 07, 2019 08:00 - 1 hourOn September 19, 2019, Odd Lots hosted its first-ever live event at the WNYC Greene Space in downtown New York City. With an all-star lineup of guests, the show featured convicted white-collar criminal Sam Antar, a panel on sovereign debt with Lee Buchheit and Brad Setser, and a discussion on MMT with Stephanie Kelton. We even had a surprise guest, SPY kid Kevin McGrath, not to mention two musical acts: country-singing economist Merle Hazard and a performance by Joe himself. Be sure to check...
Introducing Stephanomics Season 2
October 01, 2019 18:27 - 3 minutesStephanie Flanders, head of Bloomberg Economics, returns to bring you another season of on-the-ground insight into the forces driving global growth and jobs today. From the cosmetics maker in California grappling with Donald Trump's tariff war, to the coffee vendor in Argentina burdened by the nation's never-ending crises, Bloomberg's 130-plus economic reporters and economists around the world head into the field to tell these stories. Stephanomics will also look hard at the solutions, in the...
How Financial Repression in China Helped Cause the Trade War
September 30, 2019 08:00 - 42 minutesFor years, China has experienced blistering growth. Driven by an investment-heavy economic model, this growth has limited household income while subsidizing business. This system worked extraordinarily well for years, but the system has recently been hitting its limits. On this week's Odd Lots, we speak with Michael Pettis, a longtime China expert who serves as a finance professor at Peking University as well as a Senior Associate at the Carnegie Endowment. He explains why China must rebalanc...
What Businesses Can Learn From the Collapse of Civilizations
September 23, 2019 08:00 - 45 minutesHistory is littered with collapsed civilizations ranging from the Maya to Angkor Wat. But what can they tell us about the world today, or doing business in it?. But what can they tell us about the world today, or doing business in it? On this episode, we speak with previous Odd Lots guest, archaeologist Arthur Demarest, often described as the "real Indiana Jones" and who is also Ingram Professor of Anthropology at Vanderbilt University. Demarest has recently been applying business management ...
Why The Dominant U.S. Dollar Refuses To Go Away
September 16, 2019 08:00 - 35 minutesFor years, people have been predicting the demise of the U.S. dollar as the global reserve currency. Although the U.S. economy has been shrinking as a share of the world's GDP, the dollar continues to grow ever more dominant. Yet its strength is increasingly cited as a factor behind economic problems around the world. On this week's Odd Lots, the economist David Beckworth, a research fellow at the Mercatus Center, explains the dollar's persistent and growing strength. Learn more about your a...
Huw van Steenis On What Central Banks Will Do Next
September 09, 2019 08:00 - 33 minutesLast month, central bankers gathered at the annual Economic Symposium in Jackson Hole, Wyoming. A lot of the talk was about the limits of monetary policy when it comes to boosting economic growth and what negative interests could do to the financial system. Bank of England Governor Mark Carney also gave a speech in which he talked about replacing the U.S. dollar's role in the financial system with something else—maybe even a central bank-run digital currency similar to Facebook's Libra. On ...