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The End of an Era? Why Bitcoin and MMT Won the Week
Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.
Updated Sep 14, 2021, 9:49 a.m. Published Aug 29, 2020, 1:00 p.m.
Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
On The Breakdown’s Weekly Recap, NLW looks at the shifting sands of the global economy. He says Federal Reserve Chair Jerome Powell’s speech at Jackson Hole this week was an argument that an era that began in the 1970s is now closing.
At the same time, he argues Powell did very little to provide a vision for what comes next. Instead, it is the alternative economic philosophies – Modern Monetary Theory on the one side, Bitcoin on the other – that are attracting people for a different vision of the future.
See also: Everything You Need to Know About Jerome Powell’s Jackson Hole Speech
This week on The Breakdown:
Monday | How Much Should We Fear Post-Crisis Debt or Inflation? Feat. Adam Tooze
Tuesday | An Unintended Consequence of Low Interest Rates? The Big Get Bigger
Wednesday | The Battle to Get Dictator’s Seized Millions to 62,000 Venezuelan Health Heroes
Thursday | Everything You Need to Know About Jerome Powell’s Jackson Hole Speech
Friday | The Anxiety Index: 4 Fear Factors Shaping the Economy
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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