The stability of stablecoins is an illusion. They are unlikely to replace Federal Reserve money, unlikely to revolutionise finance, and unlikely to realise the dreams of their libertarian enthusiasts.

Barry Eichengreen | 1 comment

The dollar's recent slide is one in a series of readily explicable fluctuations. Indeed, the most striking takeaway is its resiliency. The explanation is "TINA" - There Is No Alternative.

Barry Eichengreen

The G7 has vowed to use "all appropriate policy tools" to contain the economic threat posed by the COVID-19 coronavirus. That should include those wielded by medical practitioners and epidemiologists.

Barry Eichengreen

The critics of QE are right to warn of unintended consequences. But shunning QE may also have unintended consequences. The critics should be careful what they wish for.

Barry Eichengreen

Trump is learning that he is hemmed in by the same constraints as Obama's administration. As with Obama, the agent of change is turning out to be an agent of continuity.

Barry Eichengreen

Trump promised a raft of sweeping economic-policy changes - but has quickly discovered that the US political system is designed to prevent rapid, large-scale change. So what will an impatient president do?

Barry Eichengreen