I was Zooming with an old friend the other day to catch up on recent events. We discussed how package sizes were getting smaller while prices were steadily rising for the sorts of foods and goods we have been buying for...
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One of the things that drew fire in my recent OMFIF commentary was the observation that China's renminbi could gain primacy of weighting in the IMF's SDR basket despite joining the basket as recently as 2016 and being used...
Read MoreFrom the perspective of a long career in central banking, markets supervision, and public policy, Andrew Sheng speaks truth to power: Central bankers can no longer deny the moral consequences of keeping interest rates low. Low rates encourage...
Read MoreIt's Jackson Hole Economic Symposium day, and so, of course, I woke up with the top priority of getting today's agenda from the Kansas City Fed website - even before coffee. For those who aren't Fed geeks, the Jackson Hole Economic Symposium...
Read MoreThis amazing graphic gives a very visual snapshot of the inequality of global GDP per capita among nations. Luxembourg has the richest population in terms of GDP per capita, enhanced by the fact that many who work in Luxembourg's banking and asset...
Read More18/08/21: I published a further commentary at OMFIF today on the challenge to monetary sovereignty from accelerating dollarisation of both the global economy and many domestic economies. The piece starts with ex-Bank of...
Read MoreOn 15 August 1971, in a speech broadcast on American television, pre-empting Bonanza, President Nixon announced that he was 'temporarily' closing the Gold Window that allowed other nations to exchange USD for gold at $35 per ounce. The Bretton...
Read MorePhoto: Lasse Skog/Global Utmaning/Flickr Professor Charles Goodhart has been an advisor to Pacemaker since the first inspiration for a Financial Stability FinTech. I have known Charles more than 30 years, and we...
Read MoreSo I wrote about the Didi imbroglio earlier this week, suggesting Bloomberg's coverage was peculiarly slanted, omitted key details, and was over-critical of China. In both a news article and a commentary Bloomberg omitted the...
Read MoreThe first story I read on Bloomberg this morning was Didi Loses $22 Billion in Market Cap After China Crackdown. Later in the day I read the Shuli Ren commentary, also on Bloomberg, The Tiger Who Came to Tea — Didi-China Style...
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