.
@TheEconomist
picks The Future of Money as one of four books you should read to understand central banking, along with books by
@benbernanke
@scmallaby
and Bagehot (hmm...no twitter handle?) !
My FT oped on how Trump is inflicting long-term damage on the dollar. It’s not the cheap talk about a weaker dollar but the erosion of America’s institutions + rising perception of US as an unreliable, untrustworthy partner in international relationships
My FT op-ed "Wiping out bad data will not solve China’s economic woes" Given the biggest economic problem is lack of confidence in government, pretending everything is fine will only backfire
My op-ed in Barron's on why China is slipping into deflation and what the government needs to do (soon) to prevent a worsening spiral of stalling growth, declining confidence, and deflation (hint: it will take a lot more than just macro stimulus)
An extensive interview about my new book, The Future of Money, with
@DanielGKuhn
of
@coindesk
. We talk about cryptocurrencies, CBDCs, what it all means for currency competition, the nature of central bank money, and much more
My NYT op-ed on what ails China's economy (hint: it's not just the property market, high debt, weak external demand...rather, concerns about both direction of policies and policymaking process hurting hhold, business confidence...stimulus alone won't help)
My
@FT
@ftopinion
piece on how Thailand's "helicopter drops of money" thru digital wallets offers insights into how CBDCs could be used one day. Exciting possibilities + a lot to worry about. "Thailand may tell us a great deal about the future of money"
My latest in
@ftopinion
"The People's Bank of China Has a Transparency Problem" PBoC lacks statutory independence but would still be more effective (and avoid market turmoil) if it did a better job of communicating its strategy and policy actions
My NYT op-ed on long-term damage Trump and his acolytes are inflicting on the dollar When the president undermines the rule of law and the independence of institutions like the Fed, he threatens a pillar of American economic strength.
My interview on
@CNBC
@PowerLunch
with
@KellyCNBC
and Tyler Mathisen to talk about my new book, the pros and cons of cryptocurrencies, and the future of cash and other forms of money
Latest update of TIGER (Brookings-FT Tracking Indexes for the Global Economic Recovery) in
@FT
@ChrisGiles_
"Global rebound hit by supply squeezes, energy costs and inflation" Full update at
My FT op-ed on China's growth dilemmas. The government has (some) good intentions and is trying to fix problems (some of its own making), but must clearly define its role in the economy and financial markets. Else, more volatility and stumbles ahead
My
@FT
op-ed on China's upcoming third plenum: "China's plenum must offer action not rote slogans". To deal with cyclical & structural problems and rebuild confidence, govt needs a concrete plan, should get started on reforms, and offer some stimulus
My FT op-ed on how Fintech, digital currencies reshaping intn'l finance (easier cross-border payments; less need for vehicle currencies; dollar to remain supreme; efficacy of financial sanctions eroding; existential threat for smaller, weaker currencies)
Review of my book in the
@FT
"Prasad envisages an era of monetary separation between the state and the private sector...The book is comprehensive to a fault and a vital handbook for anyone looking to understand how finance is changing."
I will be participating in a panel at
@ProSyn
’s virtual event, Finance 3.0, next week (Wed, Apr. 13; 9 am US ET; 3 pm CET). Watch live at the link, as we discuss the next chapter for
#cryptocurrencies
and
#digitalpayments
.
#PSEvents
My new report “Central Banking in a Digital Age” now posted: Launch event today at Brookings 2 pm w/ Carstens (BIS), Ingves (Riksbank), Patel (RBI),
@RanaForoohar
(FT),
@davidmwessel
. Live webcast:
My op-ed in this weekend's Barron's magazine "Russia Sanctions Won't Doom the US Dollar". Some changes coming in international finance but China and Russia aren't exactly in a position to displace the dollar
My op-ed in the NYT “China Is Willing to Make a Deal”. Its leaders are talking tough, but many Chinese officials are worried about their economy and eager to end the trade war
@nytopinion
My
@FinancialTimes
op-ed on some basic principles for crypto regulation (and questions to frame the discussion): "Crypto poses serious challenges for regulators"
My new
@FinancialTimes
op-ed "DeFi is a reminder of the risks of unfettered financial engineering". DeFi has a lot to offer but decentralization and technology do not eliminate all risks and create new ones
My FT op-ed on the subtle risks of retail CBDCs...to the integrity of central banks, central bank money...if CBDC loaded with cool features that digital money enables (paywall)
The dollar's role as the dominant reserve currency will likely persist, even if its status as a payment currency erodes… My piece in the latest issue of the IMF's Finance&Development magazine:
My op-ed in
@FortuneMagazine
"China’s digital yuan—premiering globally at the Beijing Olympics—could become a model for other countries" User case for e-CNY is weak but it fits in with other (domestic) objectives of Chinese govt.
My new Project Syndicate op-ed on how Modi govt’s attacks are hurting RBI (central bank) credibility and effectiveness, and could end up making things for difficult for govt itself
Generous review of my book in
@TheEconomist
"a strength of his analysis is his mastery of both technical details and big-picture trade-offs...imposes a cosmic order on the constellation of institutions that determine how money flows." (paywall)
India's Finance Minister
@nsitharaman
speaking at
@BrookingsInst
on Tue Oct 11 at 2 pm ET. Intro by
@BSangafowaCoul
, Brookings VP. The Minister and I will then have a wide-ranging fireside chat. Register here for event (which will be simulcast):
My interview on
@YahooFinance
about how the FTX implosion is a classic case of fraud and greed, with a healthy dose of incompetence added and all of this enabled by a blind faith in technology
Currency manipulation connotes persistent fx mkt intervention to prevent currency appreciation. China mostly fighting depreciation pressures since mid-2014. US Treasury will have to get creative to please Trump and label China manipulator!
@SalehaMohsin
I testified earlier this week at Congressional hearing on “Digital Currencies: The Future of Money” House Committee on Financial Services/Monetary Policy and Trade Subcommittee. Full written testimony: Video of hearing:
On Mon, May 20 at 10:30 am I'll join
@BSangafowaCoul
and
@UChicago
’s Dr. Raghuram Rajan at Brookings to discuss Rajan’s new book: “Breaking the Mold: India’s Untraveled Path to Prosperity.” Register to attend in-person or online here
#BreakingtheMold
:
My new FT op-ed: How India can avoid the emerging market blues. (Hint: not with import tariffs and ad hoc measures to attract capital) Need more fundamental reforms to restore confidence
Oct 2022 update of TIGER (Brookings-FT Tracking Indexes for the Global Economic Recovery) just released: "World economy battered by high inflation, stalling growth, plunging confidence" Coverage in
@FinancialTimes
by
@ChrisGiles_
April 2024 update of Brookings-FT Tiger indexes of global economy now live at "A feeble recovery characterized by multiple divergences"
@FT
coverage by
@Sam1Fleming
is here: "US and India stoke hopes of global growth in 2024"
My op-ed in Barron's
@barronsonline
"The dollar's rise shouldn't hold back the Fed" Yes, the rising $ is causing havoc around the world. No, the Fed shouldn't hold back on raising interest rates on account of that. That would only cause more problems later
My wide-ranging (and perhaps even modestly entertaining) conversation about my new book on the Future of Money with
@adamconover
on his
@earwolf
podcast
My column in
@barronsonline
summarizes my views on the Fed's CBDC paper: paper nicely lays out pros and cons of a digital dollar, and poses the right questions; decision ultimately involves societal + institutional considerations not just technocratic ones
My article in Bulletin of the Atomic Scientists (of the doomsday clock fame!) magazine July 2022 issue devoted to cryptocurrency, blockchain: "After the fall: Bitcoin's true legacy may be bitcoin technology" Open access version:
My FT op-ed on how "DeFi's promise of democratizing finance remains a distant reality" Decentralized finance risks concentrating economic power and exacerbating existing inequities
My piece in
@TIME
"The Future of Crypto Is Bright, But Governments Must Help Manage the Risks" (an endorsement of the potential of blockchain technology, not Bitcoin as an asset!)
My
@BrookingsInst
colleague
@davidrdollar
and I talk about China's growth slowdown and the state of US-China relations. On David's Dollars&Sense podcast (which, by the way, is excellent and is celebrating its third anniversary)
On
@NPRLifeKit
podcast, I try to demystify cryptocurrencies, blockchain, crypto mining, and more "Curious about crypto? What you need to know to get started with digital currencies"
My wide-ranging conversation with Stephanie Flanders on her Bloomberg
@MyStephanomics
podcast (an excellent podcast, by the way), covering a number of topics from my forthcoming book
My interview on
@StreetSignsCNBC
about China's policy balancing act, including trying to reconcile increasing state control and "common prosperity" with a dynamic private sector
My op-ed "These are the last days of cash. We might miss it when it's gone" in
@globeandmail
: The worldwide shift to digital payments, fast declining use of physical currency, and a vignette about the
@bankofcanada
actually encouraging money laundering!
My interview with
@heffnera
for The Open Mind on PBS
@OpenMindTV
on the virtues and failings of cryptocurrencies and how they are impacting financial markets