Powerful lobbies are hindering a digital transition by America’s huge network of some 4,500 banks
The history of central banks contains a lot of uncertainty and a lot of politics
I never bet against crypto — that doesn’t mean I like it
The exorbitant burden of exporting dollars makes it hard for America to govern at home
In these unusual times, Congress and the White House should be clear what they plan to do about a loss
But only now are asset managers beginning to reconsider the story of America as an inexhaustible well of safe bets
The US does not really need a state investment vehicle — it is one already
A scrip still handed out by city of Hawarden is built on sound administration
It is a resilience strategy for the ‘hodlers’, not the US state
Local markets should not need dollar alternatives to help farmers avoid credit card fees
Acemoglu, Johnson and Robinson won a prize for applying economics to the very things economics is inherently bad at figuring out
A dispatch from FT Alphaville’s maritime correspondent
There is no simple solution to monetary governance
Credit scores in America are capricious and unfairly limit access to banking
The assumption that there is a good governance model for who gets to make decisions on money is flawed
Demand for credit may be falling in some areas, but plastic is a different story
The world thinks of treasuries as assets and no other country has been able to produce more sovereign debt than the US
Caw blimey
Central bank remains wary of Andrew Brimmer’s proposal that it should take a more active role on credit allocation
We should ask whether creators like banks should face more regulation or pay more in insurance premiums
History of payments shows there is more to central banking than voting to raise or lower interest rates
The proposal is a response with uncertain outcomes to a threat with known and catastrophic consequences
What a 235-year-old ledger can teach us after a year of chaos in digital money
Perpetual gilts would need a dedicated fund to pay them back
Central bank policymakers do not seem to want to find new tools that work
