Editor’s Pick

Saule Omarova Beth and Marc Goldberg Professor of Law Cornell Law School Ithaca, NY Dear Professor Omarova, As you probably know, I'm among the critics of the plan for "democratizing money" that you outline in your forthcoming Vanderbilt Law Review article. I disagree with it

There is increasing pressure on central banks to take climate change into account in formulating monetary policy.  The Bank of England and the European Central Bank have already done so, and the Fed may follow suit.  Indeed, the Fed’s move

Many observers are treating China’s plan for a central bank digital currency (CBDC) as a strictly progressive, technical move that other nations should emulate.  The United States, in particular, is concerned that China already has a large head start, which

In view of the Fed's failure to achieve two percent inflation for much of the post-2007 period, the suggestion that it will find it easier to hit a higher target may well strike many as perverse—as if someone suggested that

August 15, 2021 marks the 50th anniversary of the day President Richard Nixon “closed the gold window,” ending the postwar Bretton Woods international monetary system. It is an appropriate moment to reconsider the internal inconsistencies of the Bretton Woods system.

As we continue to span the globe to bring the constant variety of ESG topics, I’m reminded of my favorite part of watching live sports: being part of a crowd. The energy inside the stadium is never more electric than

Everyone is talking about inflation, but what is it?  Why does it matter? What causes it? And what can the Federal Reserve do about it? This primer will address those questions with the goal of improving the public’s understanding of

The comparison has by now been made so often that it may qualify as a platitude. I mean that between stablecoin issuers and "wildcat" banks, the fly-by-night scams that supposedly flooded the antebellum United States with notes nominally worth some

A “stablecoin” is a cryptocurrency whose value is pegged to a fiat currency, gold, or another continuously traded asset. USD Tether (USDT) and USD Coin (USDC), the two stablecoins with the largest values in circulation, are each managed to maintain

“Why should we not let people use freely what money they want to use? [They] ought to have the right to decide whether they want to buy or sell for francs, pounds, dollars, D-marks, or ounces of gold. I have