Podcast appearances and mentions of Kenneth Rogoff

Things aren't looking so good for the U.S. dollar. Though it's spent decades as the world's reigning reserve currency, it's been weakening lately thanks to tariffs and uncertainty in the U.S. economy.But its declining value, has been in the making for a while, according to Harvard economist and author of the new book, “Our Dollar, Your Problem,” Kenneth Rogoff. “The problem we're facing is that, independent of this dollar phenomenon, interest rates are going up,” said Rogoff. “And if you're the world's biggest debtor, that's tough.”Rogoff joins Kai and Kimberly to unpack how the greenback became the world's go-to currency, what a reserve currency actually is, why it's been losing some of its value lately and what might take its place. Plus, how does military power tie into all this? We'll also get into some potential cryptocurrency regulation coming down the pipeline and discuss the troubling parallel between Trumpism and Brexit. Then, you tell us what books help you reset – from classic literary romances to an apocalyptic sci-fi tale. And, our intern, Zoha Malik (hi!) shares her answer to the Make Me Smart question. Here's everything we talked about today:“Our Dollar, Your Problem,” by Kenneth Rogoff from Yale University Press“How Trump Could Dethrone the Dollar” from Foreign Affairs“Why Is The US Dollar Weakening? Trump's Tariffs Push Dollar Index To 3-Year Low.” from Forbes“Senate advances landmark crypto bill with Democrats divided” from Politico“Senate Advances Crypto Regulation Bill With Bipartisan Support” from The New York Times“Senate advances a major crypto regulation bill on a bipartisan vote” from NBC News“Brexit's Failures Could Foreshadow Trump's. Just Not in the Way You Might Think.” from The New York TimesGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Things aren't looking so good for the U.S. dollar. Though it's spent decades as the world's reigning reserve currency, it's been weakening lately thanks to tariffs and uncertainty in the U.S. economy.But its declining value, has been in the making for a while, according to Harvard economist and author of the new book, “Our Dollar, Your Problem,” Kenneth Rogoff. “The problem we're facing is that, independent of this dollar phenomenon, interest rates are going up,” said Rogoff. “And if you're the world's biggest debtor, that's tough.”Rogoff joins Kai and Kimberly to unpack how the greenback became the world's go-to currency, what a reserve currency actually is, why it's been losing some of its value lately and what might take its place. Plus, how does military power tie into all this? We'll also get into some potential cryptocurrency regulation coming down the pipeline and discuss the troubling parallel between Trumpism and Brexit. Then, you tell us what books help you reset – from classic literary romances to an apocalyptic sci-fi tale. And, our intern, Zoha Malik (hi!) shares her answer to the Make Me Smart question. Here's everything we talked about today:“Our Dollar, Your Problem,” by Kenneth Rogoff from Yale University Press“How Trump Could Dethrone the Dollar” from Foreign Affairs“Why Is The US Dollar Weakening? Trump's Tariffs Push Dollar Index To 3-Year Low.” from Forbes“Senate advances landmark crypto bill with Democrats divided” from Politico“Senate Advances Crypto Regulation Bill With Bipartisan Support” from The New York Times“Senate advances a major crypto regulation bill on a bipartisan vote” from NBC News“Brexit's Failures Could Foreshadow Trump's. Just Not in the Way You Might Think.” from The New York TimesGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

“Los primeros textos escritos de los que se tiene constancia son apuntes contables. Los primeros textos de la humanidad son sobre algo tan prosaico como una lista de ganado y de equipamiento agrícola encontrado en la ciudad de Uruk. Recogían las deudas de personas con otras personas y de personas con el complejo del templo. La escritura tardaría más de mil años en utilizarse para la narrativa.” Daniel acaba de publicar un libro sobre la historia del dinero y su fantástico vínculo con la escritura.Kapital es posible gracias a sus colaboradores:⁠Indexa Capital⁠. Gestión pasiva en fondos indexados.No es fácil encontrar un lugar seguro para tu dinero. En un mercado lleno de productos tramposos, me gusta colaborar o poner el micro a los pocos gestores, pasivos o activos, con una propuesta honesta. La fortaleza de Indexa Capital, que entraría dentro de la gestión pasiva, es una cartera de bajo coste y diversificada. Dos de sus fundadores, Unai y François, han pasado por el podcast. Si te interesa, aquí tienes mi enlace de registro para ahorrarte la comisión sobre los primeros 15.000 euros. Son tiempos inciertos en los mercados y esto significa que debes buscar opciones serias para tu dinero. Indexa Capital es sin duda una de ellas.Patrocina Kapital. Toda la información en este link.Índice:1:30 No hemos conocido dinero sano.19:46 Edificios feos en monedas débiles.32:29 La edad de oro de la seguridad.42:21 Los mercados no atacan, se defienden.59:41 El origen del dinero es el origen de la escritura.1:09:59 Número de Dunbar.1:20:00 El palacio fagocita al templo.1:31:02 Planes de guerra de Gilgamesh.1:37:22 Operación Bernhard.1:53:13 El dinero según William Stanley Jevons.2:02:01 Las piedras Rai.2:04:41 Expropiaciones de reyes ingleses.2:24:41 Esté preparado cuando vengan a por ti.2:31:03 De la bulla al bitcoin.Apuntes:Dinero: Un viaje desde Mesopotamia hasta el Bitcoin. Daniel Fernández.Epopeya de Gilgamesh. Andrew George.This time is different. Carmen Reinhart & Kenneth Rogoff.El mundo de ayer. Stefan Zweig.El patrón bitcoin. Saifedean Ammous.Antifrágil. Nassim Nicholas Taleb.La teoría de la economía política. William Stanley Jevons.

Dr. Kenneth Rogoff has undoubtedly had one of the highest-profile and most interesting careers of any Grandmaster working outside of chess. He is an author and Harvard professor who was once singled-out by none other than Bobby Fischer, as a player who had shown remarkable chess improvement. As a young chess star, Dr. Rogoff actually dropped out of high school to move to Europe and pursue chess professionally, but by age 18 he had returned to the U.S. and enrolled at Yale. He would remain active in chess for many more years, but his top priority gradually switched from chess to academics, and he eventually quit chess entirely (save for an exhibition game against Magnus Carlsen in 2012) Dr. Rogoff still loves chess and thinks about it all the time, but economics turned out to be the right decision for him, as he has become a distinguished professor who has worked as the Chief Economist at the World Bank, and has met 8 different U.S. Presidents in his life. His new book, Our Dollar, Your Problem,intersperses occasional lessons from his chess career while providing a modern history of the U.S. dollar as the reserve currency. This interview focuses primarily on Dr. Rogoff's chess career, but those interested in his reflections on the global economy should stay tuned until the end of the interview, and should definitely check out his new book. Timestamps of topics discussed are below.  Recorded on April 3, 2025.  0:02- We dive into GM Rogoff's chess upbringing, and his interactions with Bobby Fischer  Mentioned: NM Eric Marchand, IM Sal Matera , GM Rogoff's chess biography: https://rogoff.scholars.harvard.edu//pages/biography Bobby Fischer article mentioning GM Rogoff: https://rogoff.scholars.harvard.edu/sites/g/files/omnuum5901/files/rogoff/files/fischer69.pdf Karpov-Ulf Andersson 1969 ADD IMAGE  https://www.chessgames.com/perl/chessgame?gid=1019420 11:00- How did Dr. Rogoff gain hundreds of rating points in his early teens? 21:00- Was it hard to switch from the meritocratic chess world to academia?  25:00- What led to Dr. Rogoff dropping out of high school at age 16 to pursue chess? What was life like as an American teenager living alone in Europe in 1969?  Mentioned: Muppets in Moscow by Natasha Rogoff  26:00- Thanks to our sponsor, Chessable.com! If you sign up for Chessable Pro in order to unlock discounts and additional features, be sure to use the following link: https://www.chessable.com/pro/?utm_source=affiliate&utm_medium=benjohnson&utm_campaign=pro And you can check out their new offerings here: https://www.chessable.com/courses/all/new/ 32:30- Why did Dr. Rogoff make a U-turn and go to Yale University after dropping out of high school? 34:00- Patreon mailbag question: Does Dr. Rogoff ever daydream about what a professional chess life might have looked like? 37:00- Why did Dr. Rogoff quit chess “Cold turkey”?  Mentioned: Carlsen-Rogoff 2012 https://www.chessgames.com/perl/chessgame?gid=1690691 40:00- Does Dr. Rogoff have a favorite chess memory? Who were his favorite players?  Mentioned: Kasparov, Peter Thiel, Arkady Dvorkovich ,Reshevsky-Rogoff 1978, IM Kim Commons, Lev Aronian   Larsen-Rogoff 1968 Fischer-Spassky 1975 53:00- What is the origin of the phrase “Our Dollar, Your Problem”? (The title of Dr. Rogoff's new book 58:00- What can regular people do to prepare for volatile markets? 1:00:00- Patreon mailbag question: Is the US debt load sustainable? What does Dr. Rogoff think of Ray Dalio's writing?  1:05:00- Dr. Rogoff has met 8 presidents and many more world leaders- do any experiences stand out?  1:08:00- What does Dr. Rogoff think of the future of crypto-currencies?  Mentioned: Sapiens by Yuval Noah Harari Thanks to Dr. Rogoff for joining me! You can get his new book here.  Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit podcastchoices.com/adchoices

The U.S. dollar is the lingua franca of the global financial system. The fact that so much of the world relies on our currency has long been understood as our exorbitant privilege — the reason we have so much leverage in the global economy and are able to borrow at lower interest rates.But the Trump administration has a much more complicated relationship with the dollar. It has come to see dollar dominance as a burden we bear on behalf of the rest of the world. But in its attempts to move away from dollar dominance, is the Trump administration on the verge of creating a financial crisis?Kenneth Rogoff is a former chief economist at the International Monetary Fund and a professor of economics at Harvard University. He has a book coming out called “Our Dollar, Your Problem.” In this conversation he walks through the history of dollar dominance, why it's been waning in recent years and what ripple effects the Trump administration's policies might have.This episode contains strong language.Book Recommendations:Muppets in Moscow by Natasha Lance RogoffThe Queen's Gambit by Walter TevisBenjamin Franklin by Walter IsaacsonThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find the transcript and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.htmlThis episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Michelle Harris, with Kate Sinclair and Mary Marge Locker. Our senior engineer is Jeff Geld, with additional mixing by Aman Sahota. Our executive producer is Claire Gordon. The show's production team also includes Marie Cascione, Annie Galvin, Elias Isquith, Marina King, Jan Kobal, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

Kenneth Rogoff is Maurits C. Boas Professor at Harvard University, and former chief economist at the IMF. He has long ranked among the top dozen most cited economists and is an international grandmaster of chess. His influential 2009 book with Carmen Reinhart, This Time Is Different: Eight Centuries of Financial Folly, shows the remarkable quantitative similarities across time and countries in the roots and aftermath of debt and financial crises. Rogoff is also known for his pioneering work on central bank independence, and on exchange rates. He is co-author of the widely used graduate text, Foundations of International Macroeconomics. Ken's latest book is Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance and the Road Ahead. In this podcast we discuss Rogoff's early life and background as a chess prodigy, Yale, MIT and mentors like Rudy Dornbusch and Stan Fischer, Rogoff's groundbreaking paper on central bank independence, and much more.    Follow us here for more amazing insights: https://macrohive.com/home-prime/ https://twitter.com/Macro_Hive https://www.linkedin.com/company/macro-hive

Conversations with Tyler: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- Harvard economist Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. Author of the new book Our Dollar, Your Problem, Rogoff doesn't sugarcoat America's future: he foresees a significant inflation shock within a decade, far more severe than the post-COVID bout. When this second wave hits, he warns, "credibility's really going to be shot." In this conversation, Ken and Tyler tackle international economic dynamics, unresolved macro puzzles, the state of chess, and more, including whether trade deficits are truly unsustainable, why China's investment-heavy growth model has reached its limits, how currency depreciation neutralizes tariff effects, Pakistan's IMF bailouts, whether more Latin American countries should dollarize, Japan's deceptively peaceful economic decline, Europe's coming fiscal reckoning, how the US will eventually confront its ballooning debt, the puzzling absence of a recession during our recent disinflation, the potential of phasing out large denomination currency notes, the future relevance of stablecoins, whether America should start a CBDC, Argentina's chances under Milei, who will be the next dominant player in chess, hanging out with Bobby Fischer, drawing out against Magnus Carlsen, and how to save classical chess from excessive computer preparation. Read a full transcript enhanced with helpful links, or watch the full video. Recorded April 2nd, 2025. Help keep the show ad free by donating today! Other ways to connect Follow us on X and Instagram Follow Tyler on X Follow Kenneth on X Sign up for our newsletter Join our Discord Email us: cowenconvos@mercatus.gmu.edu Learn more about Conversations with Tyler and other Mercatus Center podcasts here.

Conversations with Tyler Key Takeaways  “Looking way forward, we are on an unsustainable path.” – Kenneth Rogoff on the US fiscal situation The debt continues to balloon and another inflationary impulse is on the horizon Higher taxation is likely as a means to manage the deficit Japan has been effective at becoming sclerotic slowly, but their economic model is not worth imitating – especially if you are trying to compete with China Japan could be in serious trouble: It is finally experiencing inflation, needing to raise interest rates, has stuffed government debt into every orifice of its economy, and cutting old-age benefits to pay its growing interest expense“I think this is absolutely an existential crisis for Europe. It may lead to them becoming more cohesive. It may lead to them becoming more of a geopolitical power, but yes, they are going to have to make choices that they haven't had to make.” – Kenneth Rogoff on the economic situation in Europe The US brain drain of Europe's top talent contributes to Europe's slow economic growthSuddenly, the United States spends more on interest expense than it does on defense spendingThe fact that real interest rates appear to have regressed to their long-term trend is the most important macro change in the world The US should not be the first nation to implement a CBDC, if it ultimately chooses to do soWhy change the rules of the game if we are on top and winning? The US is so big that we are probably headed towards having competitive stable coins instead of a single CBDC Bet on mean reversion: For many variables, it's wise to assume they'll eventually drift back toward their average – it's a useful principle to keep in mindThe predictability of political business cycles: Those in power ignore the debt, the problem grows, and we end up exactly where we are nowChoosing the optimal inflation rate is one of the greatest macro puzzles – should it be 0%, 2%, 4%, or something else? China has dug itself in a very deep hole that will be difficult to dig out of: Innovation is required for a successful economy; just growing by building more roads and infrastructure will result in diminishing returns Read the full notes @ podcastnotes.org Harvard economist Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. Author of the new book Our Dollar, Your Problem, Rogoff doesn't sugarcoat America's future: he foresees a significant inflation shock within a decade, far more severe than the post-COVID bout. When this second wave hits, he warns, "credibility's really going to be shot." In this conversation, Ken and Tyler tackle international economic dynamics, unresolved macro puzzles, the state of chess, and more, including whether trade deficits are truly unsustainable, why China's investment-heavy growth model has reached its limits, how currency depreciation neutralizes tariff effects, Pakistan's IMF bailouts, whether more Latin American countries should dollarize, Japan's deceptively peaceful economic decline, Europe's coming fiscal reckoning, how the US will eventually confront its ballooning debt, the puzzling absence of a recession during our recent disinflation, the potential of phasing out large denomination currency notes, the future relevance of stablecoins, whether America should start a CBDC, Argentina's chances under Milei, who will be the next dominant player in chess, hanging out with Bobby Fischer, drawing out against Magnus Carlsen, and how to save classical chess from excessive computer preparation. Read a full transcript enhanced with helpful links, or watch the full video. Recorded April 2nd, 2025. Help keep the show ad free by donating today! Other ways to connect Follow us on X and Instagram Follow Tyler on X Follow Kenneth on X Sign up for our newsletter Join our Discord Email us: cowenconvos@mercatus.gmu.edu Learn more about Conversations with Tyler and other Mercatus Center podcasts here.

Harvard economist Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. Author of the new book Our Dollar, Your Problem, Rogoff doesn't sugarcoat America's future: he foresees a significant inflation shock within a decade, far more severe than the post-COVID bout. When this second wave hits, he warns, "credibility's really going to be shot." In this conversation, Ken and Tyler tackle international economic dynamics, unresolved macro puzzles, the state of chess, and more, including whether trade deficits are truly unsustainable, why China's investment-heavy growth model has reached its limits, how currency depreciation neutralizes tariff effects, Pakistan's IMF bailouts, whether more Latin American countries should dollarize, Japan's deceptively peaceful economic decline, Europe's coming fiscal reckoning, how the US will eventually confront its ballooning debt, the puzzling absence of a recession during our recent disinflation, the potential of phasing out large denomination currency notes, the future relevance of stablecoins, whether America should start a CBDC, Argentina's chances under Milei, who will be the next dominant player in chess, hanging out with Bobby Fischer, drawing out against Magnus Carlsen, and how to save classical chess from excessive computer preparation. Read a full transcript enhanced with helpful links, or watch the full video. Recorded April 2nd, 2025. Help keep the show ad free by donating today! Other ways to connect Follow us on X and Instagram Follow Tyler on X Follow Kenneth on X Sign up for our newsletter Join our Discord Email us: cowenconvos@mercatus.gmu.edu Learn more about Conversations with Tyler and other Mercatus Center podcasts here.

What if the most dangerous thing in the global economy isn't a shock — but the quiet collapse of the frameworks we still rely on?In this rare, unfiltered conversation, Kenneth Rogoff — Harvard professor and former IMF Chief Economist — joins Kevin Coldiron to confront the reality that's too uncomfortable for most policymakers to admit:The world has changed. The models haven't.Rogoff explores what happens when inflation refuses to respond, debt compounds beneath the surface, AI reshapes productivity, and geopolitics redraws the map — while central banks keep playing by yesterday's rules.This isn't a call for panic. It's a call for intellectual honesty.Because in a world where the past no longer explains the present, clarity is the only edge that matters.If you manage capital — or ideas — in a world built on assumptions, this episode is for you.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Kevin on SubStack & read his Book.Follow Kenneth on X and read his book.Episode TimeStamps: 02:01 - Introduction to Kenneth Rogoff03:04 - What is at stake if the dollar loses its...

On this TCAF Tuesday, Downtown Josh Brown sits down with Kenneth Rogoff, an economist, Harvard economics professor, and chess grandmaster, to discuss his new book "Our Dollar, Your Problem". They also dive into the current trade war, the dollars dominance, Bitcoin, an independent Federal Reserve and much more! Then at 57:16 hear an all-new episode of What Are Your Thoughts with Josh Brown and Michael Batnick! This episode is sponsored by Betterment Advisor Solutions and Rocket Money!  To learn more about Betterment, visit ⁠http://Betterment.com/advisors⁠ Cancel your unwanted subscriptions today by visiting: ⁠http://rocketmoney.com/compound Sign up for The Compound Newsletter and never miss out! Instagram: https://instagram.com/thecompoundnews Twitter: https://twitter.com/thecompoundnews LinkedIn: https://www.linkedin.com/company/the-compound-media/ TikTok: https://www.tiktok.com/@thecompoundnews Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

We've curated a special 10-minute version of the podcast for those in a hurry. Here you can listen to the full episode: https://podcasts.apple.com/no/podcast/kenneth-rogoff-tariff-impacts-the-dollars-future/id1614211565?i=1000704545192&l=nbWhat challenges lie ahead for the global economy in an era of rising tariffs and geopolitical tension? In this episode, Nicolai Tangen speaks with Kenneth Rogoff, renowned economist and co-author of the seminal book "This Time Is Different," about the shifting economic landscape. They discuss the potential impacts of Trump's tariff policies, the future of US dollar dominance, and why inflation might make an unexpected comeback. Kenneth shares his chess-player's perspective on navigating trade negotiations and offers contrarian views on China's growth trajectory and technological disruption. Tune in for a thought-provoking discussion on our financial future!In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday.The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Torgeir Rimstad.Watch the episode on YouTube: Norges Bank Investment Management - YouTubeWant to learn more about the fund? The fund | Norges Bank Investment Management (nbim.no)Follow Nicolai Tangen on LinkedIn: Nicolai Tangen | LinkedInFollow NBIM on LinkedIn: Norges Bank Investment Management: Administrator for bedriftsside | LinkedInFollow NBIM on Instagram: Explore Norges Bank Investment Management on Instagram Hosted on Acast. See acast.com/privacy for more information.

What challenges lie ahead for the global economy in an era of rising tariffs and geopolitical tension? In this episode, Nicolai Tangen speaks with Kenneth Rogoff, renowned economist and co-author of the seminal book "This Time Is Different," about the shifting economic landscape. They discuss the potential impacts of Trump's tariff policies, the future of US dollar dominance, and why inflation might make an unexpected comeback. Kenneth shares his chess-player's perspective on navigating trade negotiations and offers contrarian views on China's growth trajectory and technological disruption. Tune in for a thought-provoking discussion on our financial future!In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday.The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Torgeir Rimstad.Watch the episode on YouTube: Norges Bank Investment Management - YouTubeWant to learn more about the fund? The fund | Norges Bank Investment Management (nbim.no)Follow Nicolai Tangen on LinkedIn: Nicolai Tangen | LinkedInFollow NBIM on LinkedIn: Norges Bank Investment Management: Administrator for bedriftsside | LinkedInFollow NBIM on Instagram: Explore Norges Bank Investment Management on Instagram Hosted on Acast. See acast.com/privacy for more information.

Kenneth Rogoff is Maurits C. Boas Professor at Harvard University, and former chief economist at the IMF. His influential 2009 book with Carmen Reinhart, This Time Is Different: Eight Centuries of Financial Folly, shows the remarkable quantitative similarities across time and countries in the roots and aftermath of debt and financial crises. Rogoff is also known for his pioneering work on central bank independence, and on exchange rates. He is co-author of the widely-used graduate text, Foundations of International Macroeconomics. His 2016 book The Curse of Cash looks at the past, present and future of currency from standardized coinage to crypto-currencies. His monthly syndicated column on global economic issues is published in over 50 countries. Rogoff's 2025 book Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance and the Road Ahead offers a sweeping view of the post-war rise of the dollar, the challenges the rest of the world has in dealing with it, and how this experience can help inform the contours of the evolving new global financial system. Rogoff is an elected member of the National Academy of Sciences and the American Academy of Arts and Sciences. He has long ranked among the top dozen most cited economists, and is an international grandmaster of chess.Leoš Rousek, the Head Of Corporate Communications at PPF Group (https://www.ppf.eu/en) and contributor of PFI Talks, talked with Kenneth Rogoff.

Amid the shocks created by Trump's tariff policies, are we also seeing a kind of American economic self-harm – which threatens the long-standing dominance of the US dollar? Gavin Esler talks to Harvard Professor of Economics and former International Monetary Fund chief economist Kenneth Rogoff, whose new book Our Dollar, Your Problem looks at the rise of the US currency and shows why its future is far from assured. • This episode of This Is Not A Drill is supported by Incogni, the service that keeps your private information safe, protects you from identity theft and keeps your data from being sold. There's a special offer for This Is Not A Drill listeners – go to https://incogni.com/notadrill to get an exclusive 60% off your annual plan. • Support us on Patreon to keep This Is Not A Drill producing thought-provoking podcasts like this. Buy Our Dollar, Your Problem through our affiliate bookshop and you'll help fund This is Not a Drill by earning us a small commission for every sale. Bookshop.org's fees help support independent bookshops too. Written and presented by Gavin Esler. Produced by Robin Leeburn. Original theme music by Paul Hartnoll – https://www.orbitalofficial.com. Executive Producer Martin Bojtos. Group Editor Andrew Harrison. Managing Editor, Jacob Jarvis. This Is Not A Drill is a Podmasters production. www.podmasters.co.uk  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Die Ampel ist tot. Und nicht der Gärtner, sondern die Schuldenbremse wars. Was zur Hölle ist das eigentlich für ein Instrument und woher stammt die Idee von so einer Schuldenobergrenze? Gregor und Marcus tauchen ab in eine der wichtigsten Eigenheiten der deutschen Politik.**********In dieser Folge:00:00:15 - Tatort Berlin – Wer hat die Ampel (wirklich) auf dem Gewissen?00:03:25 - Ein Stoppschild für neue Schulden00:07:05 - Wer hat's (warum) erfunden?00:10:55 - Eine deutsche Eigenheit00:17:35 - Fazit**********Die Quellen zur Folge:Haffer, Lukas: Die Schwarze Null. Über die Schattenseiten ausgeglichener Haushalte. Berlin, 2016: Suhrkamp. Reinart, Carmen and Kenneth Rogoff. Growth in a Time of Debt. 2010: American Economic Review 100 (2). S. 573 – 578. **********Weitere Beiträge zum Thema:Schuldenspur: Wie Staatsschulden per Auktion entstehenPilze - Zwischen Gemeingut und GoldgräberstimmungSilicon Saxony: So viel DDR steckt in der deutschen Chipindustrie**********Habt ihr auch manchmal einen WTF-Moment, wenn es um Wirtschaft und Finanzen geht? Wir freuen uns über eure Themenvorschläge und Feedback an whatthewirtschaft@deutschlandfunknova.de.**********Den Artikel zum Stück findet ihr hier.**********Ihr könnt uns auch auf diesen Kanälen folgen: TikTok auf&ab , TikTok wie_geht und Instagram .

In this episode, Alan Dunne and I explore Mario Draghi's latest vision for Europe and discuss an insightful interview with Kenneth Rogoff, titled "We Will See More Spikes in Inflation," which covers key macroeconomic issues. We also explore the recent Goldman Sachs reports, highlighted by the Financial Times, showing significant outflows from multi-strategy funds. Alan shares his perspective on the current macro landscape and why he believes we may witness more “flash crashes and extreme market moves” in the near future. Finally, we dig into two articles by Cliff Asness—"The Less Efficient Market Hypothesis" and "In Praise of High-Volatility Alternatives"—which challenge traditional thinking on market efficiency and make a compelling case for considering higher volatility versions of strategies like Trend Following over their low-volatility cousins.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps:00:42 - What has caught our attention recently?05:04 - Draghi's vision for Europe08:09 - Keneth Rogoff's outlook for inflation14:02 - Clients withdrawing money from multi-strat funds19:58 - The big macro picture27:33 - Is monetary policy still loose?29:11 - Industry performance update (Finally!)34:11 - The carry unwind41:20 - Are people underestimating trend following?44:51 - Are markets becoming less efficient?48:30 - Why higher volatility funds may be good for your portfolio56:52

Harvard University Economics Professor Kenneth Rogoff discusses markets and US economic policy. He speaks with Bloomberg's Katie Greifeld and David Westin.See omnystudio.com/listener for privacy information.

On today's episode, Clay discusses various financial crises from the past as discussed in the book This Time is Different by Carmen Reinhart and Kenneth Rogoff. As the saying goes, from a historical perspective, there is nothing new except what is forgotten. Today's episode will help shed light on where our world might be heading in light of studying history. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 06:48 - The primary types of financial crises. 08:13 - When the debt levels of a country reach an unsustainable level. 27:00 - An overview of currency debasements and currency devaluations 27:24 - How countries tend to handle unsustainable debt levels 30:36 - An overview of the Great Financial Crisis. 47:32 - How the interests of governments and currency holders are at odds with each other. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Books mentioned: This Time is Different, Broken Money, The Price of Tomorrow Episode Mentioned: TIP587: Stock Market Crises & Bubbles w/ Brendan Hughes | YouTube Video. Related Episode: TIP574: Broken Money w/ Lyn Alden | YouTube Video. Follow Clay on Twitter.  Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota CI Financial Meyka Fundrise Yahoo! Finance Long Angle iFlex Stretch Studios Public American Express Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

 On this edition of Wall Street Week, Henry McVey, KKR Head of the Global Macro, Balance Sheet and Risk sees opportunity in India's growing consumption trend. Elizabeth Economy, Hoover Institution Senior Fellow tells us why China is eyeing technological innovation to achieve its ambitious growth targets. Peter Borish, Computer Trading Chairman and CEO says that Wall Street has a fatal attraction to the Fed's rate cuts, Michelle MacKay, Cushman & Wakefield CEO tells us why near-term distress in commercial real estate could lead to a long-term resolution, and Kenneth Rogoff, Harvard University Professor of Economics says that President Biden and Donald Trump are the two most protectionist presidents in a long time.  See omnystudio.com/listener for privacy information.

Kenneth Rogoff is Maurits C. Boas Professor at Harvard University and former chief economist at the IMF. His influential 2009 book co-authored with Carmen Reinhart, “This Time Is Different: Eight Centuries of Financial Folly,” shows the quantitative similarities across time and countries in the roots and aftermath of debt and financial crises. His 2016 book “The Curse of Cash” explores the past, present, and future of currency. He has long ranked among the top dozen most cited economists, and is an international grandmaster of chess.

In the headlines edition of

The Federal Reserve raised interest rates again against the backdrop of troubles in the banking industry. The hikes are being blamed by some for weakening banks, but Fed policymakers stuck to their stance that higher rates are essential to bringing inflation under control. Kenneth Rogoff of Harvard University joined Amna Nawaz to discuss the decisions and the state of the economy. PBS NewsHour is supported by - https://www.pbs.org/newshour/about/funders

Two U.S. banks collapsed in less than a week, while in Europe, Credit Suisse teetered on the brink of failure before Switzerland's central bank stepped in with a loan. Are there implications for Canada's banking sector? Matt Galloway talks to Eric Reguly, European bureau chief for The Globe and Mail; and Kenneth Rogoff, a professor of economics at Harvard University and former chief economist of the International Monetary Fund.

Thomas Barkin, Richmond Fed President, reacts to US January CPI data. Stephen Stanley, Santander US Capital Markets Chief US Economist, says the latest inflation print came in 'as expected' but 'could have been worse.' Kenneth Rogoff, Harvard Professor of Economics & Public Policy & Former Chief Economist at the International Monetary Fund, says we could see interest rates at 6%. David Rosenberg, Rosenberg Research Founder & President, says today's data gives the Fed a green light to go in March. See omnystudio.com/listener for privacy information.

Den amerikanska centralbankschefen Jerome Powell reser till Sverige och Stockholm i veckan för att delta vid en konferens om centralbankers oberoende, som anordnas av Riksbanken. Deltar gör även bland annat Andrew Bailey, chef för Bank of England, samt nationalekonomerna Mervyn King och Kenneth Rogoff. Utspel från Fed-chefen och de övriga i direktionen blir viktiga att följa den kommande veckan, skriver CNBC. I fredags släpptes jobbrapporten för december som visar att lönerna ökar mindre än väntat och nu på fredag släpps inflationssiffrorna för samma månad. Där finns ingen mekanisk koppling mellan centralbankerna och de privatägda bankernas kreditutgivning och att det finansiella systemet är upp och ner och dessutom bak och fram enligt gemene mans uppfattning om detsamma sade visst Merwyn King en gång i tiden... #CarlNorberg #DeFria De Fria är en folkrörelse som jobbar för demokrati genom en upplyst och medveten befolkning! Stöd oss: SWISH: 070 - 621 19 92 (mottagare Sofia S) PATREON: https://patreon.com/defria_se HEMSIDA: https://defria.se FACEBOOK: https://facebook.com/defria.se

Ethan Ilzetzki is an associate professor of economics at the London School of Economics and a research fellow with the Center for Economic Policy Research. Ethan is also a returning guest to the show, and he rejoins David on Macro Musings to talk about the international implications of Fed Policy and the strong dollars as well as Ethan's thoughts on business cycle theory in light of the recent inflation surge. David and Ethan also discuss Ethan's takeaways from the UK crisis, how to evaluate and contextualize monetary policy shocks, the contemporary applications of the fiscal theory of the price level, and more.   Transcript for the episode can be found here.   Check out our new Macro Musings merch here, and use the promo code NGDP for 10% off!   Ethan's Twitter: @ilzetzki Ethan's website Ethan's LSE profile   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   *UK Financial Crisis of 2022: Retrospective Diagnosis and Policy Recommendations* by Ethan Ilzetzki   *Exchange Arrangements Entering the Twenty-First Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff   *Inflation as a Fiscal Limit* by Francesco Bianchi and Leonardo Melosi   *The Global Financial Cycle* by Helene Rey and Silvia Miranda-Agrippino

The U.S. dollar is soaring against other currencies, adding to fears of a global financial meltdown. When that happened in 1985, governments took action. Could that happen today? Kenneth Rogoff and Jean-Claude Trichet join Kimberly Atkins Stohr.

Harvard economics professor and former IMF Chief Economist Ken Rogoff is one of the world's preeminent economic thinkers. Here he brilliantly dissects today's U.S. economy and bluntly explains what must happen to tame inflation and sustain growth – and the major role China may play. He is the co-author of This Time Is Different: Eight Centuries of Financial Folly.

The British pound plunges against the dollar to its lowest level in almost four decades. Investors seek protection in the US currency as recession fears grow in other markets. We talk to Kenneth Rogoff, former chief economist at the International Monetary Fund. The second largest movie theatre chain in the world, Cineworld, has filed for bankruptcy protection in the United States. The firm is struggling to recover from the pandemic and needs to restructure a debt of more than $4bn. We hear more from Jeremy Hill, bankruptcy reporter with Bloomberg. Now that Russia has indefinitely cut gas supplies to Germany, the country relies on coal to produce a third of its electricity. However, coal is a highly-polluting source of energy that many European countries, including Germany, had vowed to phase out. We hear more from Thomas Matussek, a former German ambassador to the UK and adviser to Flint Global. Apple has launched the latest versions of the iPhone: iPhone 14 and iPhone 14 Pro Max. We will hear about the new features they have and if they are innovative enough to make Apple fans run to the stores to spend hundreds of dollars on a phone upgrade. Bobby Allyn, tech reporter for NPR, tells us more. Rahul Tandon discusses these and more business news throughout the programmes with two guests in opposite sides of the world: Karen Lema, bureau chief for Reuters in Manila, and Peter Morici, economist at the R.H. Smith School of Business at the University of Maryland. (Picture: A pound and dollar bills. Picture credit: Getty)

The British pound has fallen to its lowest level against the US dollar since 1985, as a new Prime Minister takes office and investors flock to the safe-haven currency. We hear more from Kenneth Rogoff, former chief economist at the International Monetary Fund. Cineworld has filed for bankruptcy protection in the United States. The second largest cinema chain operator is struggling to rein in its massive debt. Wall Street Journal's Alexander Gladstone tells us more. Apple has launched its latest products, which include the iPhone 14 and the iPhone 14 Pro Max. What new features do these smartphones have and are they worth the upgrade? We ask Bobby Allyn, tech reporter for NPR. As Russia cuts gas supplies via the Nord Stream 1 pipeline to Germany, Berlin now relies on the highly-polluting coal to produce almost a third of its electricity. We talk to Thomas Matussek, a former German ambassador to the UK and adviser to Flint Global. The record of the priciest female footballer transfer has been broken: Barcelona has signed England international Keira Walsh from Manchester City on a three-year deal. We hear more from Andrea Ekblad is Rights Director - Women's Sports at DAZN. And we discuss the latest events in the markets with Susan Schmidt, head of US Equity at Exchange Capital Resources in Chicago.

How are multilateral institutions like the IMF helping close the gender gap? Listen to Jason Mitchell discuss with Dr. Ratna Sahay, IMF Senior Advisor on Gender, about what's at stake when we talk about gender disparities, how the IMF's first Strategy Toward Mainstreaming Gender advances this effort and why it's vital that we focus on the multiplier effects to drive great, more inclusive economic growth. Dr. Ratna Sahay is Senior Advisor on Gender in the Office of the Managing Director at the International Monetary Fund. She is responsible for mainstreaming gender in the Fund's core activities-surveillance, programs, and capacity development. Prior to this role, she was a Deputy Director in the Monetary and Capital Markets Department. She has worked in several regional departments in the IMF and has previously served as Advisor to Stanley Fischer (First Deputy Managing Director) and Michael Mussa and Kenneth Rogoff (both Economic Counselors at the IMF). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on Good Morning Crypto…  We will be discussing…  Harvard Professor and former chief economist for the IMF, Kenneth Rogoff, says central banks and governments are way behind the curve in regulating crypto. Claiming CBDCs are a distraction from real issues.  A “Bankrate '' survey shows only 6% of Americans believe in crypto over the next decade, sentiment is down over 85% in the past 12 months. Could this be a sign the bottom is in?  Dubia is entering the metaverse, funding over 40,000 new jobs in the sector, while Italy is taking full advantage of the bear market, allowing 3 new exchanges to enter their borders.  Polygon (MATIC) has announced an Ethereum compatible scaling solution, while Cardano (ADA) continues to lead the globe in development activity.  California Congressman Brad Sherman made very strong statements in support of the SEC (against XRP), we take a brief look into who is funding his political journey.  And we show our listeners a video of FTX Founder Sam Bankman- Fried discussing how short term losses are part of the game when bailing out crypto. // Linqto https://www.linqto.com/?cjevent=b65ecbbec46011ec81b91b3a0a1c0e10 //// T H E 3 T W A R R I O R A C A D E M Y // Join the 3T Warrior Academy: https://3twarrior.com/warrioracademy?affiliate_id=3827481 // Join our Free Discord: https://3twarrior.com/discord49541345 //// F O L L O W T H E T E A M // Official Good Morning Crypto https://linktr.ee/3tGMCrypto Twitter: https://twitter.com/3tGMCrypto // Abs  Instagram: https://www.instagram.com/Abs3t/ // Mario | Node Defender https://linktr.ee/nodedefender Twitter: https://twitter.com/NodeDefender Youtube: https://youtube.com/channel/UCnld-Xvam562HFQDOIBwymw Instagram: https://www.instagram.com/NodeDefender/ // Johnny Krypto https://linktr.ee/johnnykrypto Twitter: https://twitter.com/JohnnyKrypto00 YouTube: https://www.youtube.com/channel/UCm-qyQNf1rnUaw6u20mKCVw // Gonzo Twitter: https://twitter.com/gonzo_3t Instagram: https://www.instagram.com/gonzo_3t/ // Selman Twitter: https://twitter.com/SelmanGee YouTube: https://www.youtube.com/c/GeeInvesting // NFTtones: https://linktr.ee/NFTtones // Billy Twitter: https://twitter.com/WadkinsBilly TikTok: @Homeless2Humbled Instagram: https://www.instagram.com/homeless2humbled_ //// #Crypto #CryptoNews #Bitcoin #BTC #Ethereum #ETH #XRP #CryptoCurrency #Finance #Talkshow #NewsShow #money #finance #Metaverse Learn more about your ad choices. Visit megaphone.fm/adchoices

The UK Prime Minister Boris Johnson has quit as leader of the Conservative party. It follows a series of ministerial resignations and will lead to the end of Mr Johnson's three year reign as the country's leader at a crucial time for the UK economy. We assess the reasons that have led to this point, get reaction from Europe and ask who will be next in Number 10 Downing Street? We look at what the Prime Minister's resignation may mean from a business perspective with Harvard University economics professor and former IMF chief economist, Kenneth Rogoff. Columbia University economist Cary Leahy gives us the lowdown on the US markets.

Michael Dooley is a chief economist for Figure Technologies and a 20-year veteran of the Federal Reserve System and the IMF. Michael is also a professor emeritus in the department of economics at the University of California, Santa Cruz, and he joins Macro Musings to talk about the international monetary system and the future of the dollar. Specifically, David and Michael also discuss the original and revised Bretton Woods systems, the Fed's role as a monetary superpower, and what this means for the US as a provider of safe and unsafe assets.   Transcript for the episode can be found here.   Michael's UC Santa Cruz profile Michael's NBER archive   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   *US Sanctions Reinforce the Dollar's Dominance* by Michael Dooley, David Folkerts-Landau, and Peter Garber   *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff   *Dilemma Not Trilemma: The Global Financial Cycle and Monetary Policy Independence* by Helene Rey   *The Global Financial Cycle* by Helene Rey and Silvia Miranda-Agrippino

George W. Bush Council of Economic Advisers' chair Glenn Hubbard argues that government and business will need to invest more in American workers to offset job losses due to technology advances & globalization. He's interviewed by Harvard University economics professor and former International Monetary Fund chief economist Kenneth Rogoff. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Harvard's Kenneth Rogoff, Citi analysts are now also calling for the creation of a multilateral institution with the specific mandate of supporting developing economies transition to green. Leslie Maasdord, CFO of the New Development Bank – formed by some of those very emerging markets – thinks differently. See acast.com/privacy for privacy and opt-out information.

We speak with the director of the Monmouth University Polling Institute, Patrick Murray, who wrote an article titled “‘I blew it.' Maybe it's time to get rid of election polls.” We also look at the future of inflation with economist Kenneth Rogoff.

"This week energy chickens have come home to roost as the trade-offs of transitioning to a greener economy were laid bare in the way various energy markets reacted. It's nearly half a century since the Organisation of the Petroleum Exporting Countries imposed an oil embargo on America, turning a modest inflation problem into a protracted bout of soaring prices and economic misery. But the stagflation of the 1970s is back on economists' minds today, as they confront strengthening inflation and disappointing economic activity. The voices warning of unsettling echoes with the past are influential ones, including Larry Summers and Kenneth Rogoff of Harvard University and Mohamed El-Erian of Cambridge University and previously of PIMCO, a bond-fund manager. To put things into perspective Michael Avery is joined by Nesan Nair, senior portfolio manager at Sasfin Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Dr Miriam Altman, Director of Altman Advisory, Professor of 4IR Practice at the University of Johannesburg"

Kenneth Rogoff

Richard Clarida, Federal Reserve Vice Chairman, policy makers are looking for “hard numbers” on whether they're reaching their goals on price stability and employment before adjusting interest rates. Kenneth Rogoff, Harvard University Professor of Economics & Public Policy, says a rise in interest rates at this point in the global pandemic recovery would “turn the world upside down.” Angus Deaton, Nobel Prize-Winning Economist and Princeton University Professor of Economics & International Affairs Emeritus, says the pandemic has exacerbated economic inequality. Anthony Crescenzi, PIMCO Market Strategist, Portfolio Manager & Member of the Firm's Investment Committee, sees value in the front end of the yield curve. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Richard Clarida, Federal Reserve Vice Chairman, policy makers are looking for “hard numbers” on whether they’re reaching their goals on price stability and employment before adjusting interest rates. Kenneth Rogoff, Harvard University Professor of Economics & Public Policy, says a rise in interest rates at this point in the global pandemic recovery would “turn the world upside down.” Angus Deaton, Nobel Prize-Winning Economist and Princeton University Professor of Economics & International Affairs Emeritus, says the pandemic has exacerbated economic inequality. Anthony Crescenzi, PIMCO Market Strategist, Portfolio Manager & Member of the Firm's Investment Committee, sees value in the front end of the yield curve.

Bandaríkjaþing samþykkti í gærkvöld bjargráðapakka til að takast á við efnahagskreppuna sem fylgt hefur heimsfaraldrinum. Útgjöld vegna aðgerðanna eru áætluð upp á 1,9 billjónir dollara og er þeim einkum ætlað að koma fólki með meðal- og lágar tekjur til góða. Hver Bandaríkjamaður á að fá 1400 dollara ávísun. Þetta ræddu Þórunn Elísabet Bogadóttir og Björn Þór Sigbjörnsson við Boga Ágústsson í Heimsglugga vikunnar. Spáð er hagvexti í flestum vestrænum ríkjum á þessu ári eftir mikinn samdrátt vegna COVID-19 í fyrra. Þrátt fyrir það segir Kenneth Rogoff, hagfræðiprófessor við Harvard og einn virtasti hagfræðingur veraldar, að kreppunni sé ekki lokið. Við heyrum í Rogoff, sem skrifaði ásamt Carmen Reinhart bók um efnahagskreppur í 800 ár sem ber heitið ,,Núna er þetta öðruvísi", (This time it's different), sem Rogoff segir vera kaldhæðni. Þá var rætt um kalda sambúð Breta og ríkja Evrópusambandsins. Írar saka Breta um að hafa í tvígang brotið útgöngusaminginn úr ESB um stöðu Norður-Írlands. Í Bandaríkjunum er ráðamönnum umhugað um að Brexit stefni ekki friði á Norður-Írlandi í hættu. Írar hafa veruleg ítök vestanhafs, þar sem tugmilljónir rekja ættir sínar til eyjunnar grænu, þar á meðal Joe Biden forseti.

Bandaríkjaþing samþykkti í gærkvöld bjargráðapakka til að takast á við efnahagskreppuna sem fylgt hefur heimsfaraldrinum. Útgjöld vegna aðgerðanna eru áætluð upp á 1,9 billjónir dollara og er þeim einkum ætlað að koma fólki með meðal- og lágar tekjur til góða. Hver Bandaríkjamaður á að fá 1400 dollara ávísun. Þetta ræddu Þórunn Elísabet Bogadóttir og Björn Þór Sigbjörnsson við Boga Ágústsson í Heimsglugga vikunnar. Spáð er hagvexti í flestum vestrænum ríkjum á þessu ári eftir mikinn samdrátt vegna COVID-19 í fyrra. Þrátt fyrir það segir Kenneth Rogoff, hagfræðiprófessor við Harvard og einn virtasti hagfræðingur veraldar, að kreppunni sé ekki lokið. Við heyrum í Rogoff, sem skrifaði ásamt Carmen Reinhart bók um efnahagskreppur í 800 ár sem ber heitið ,,Núna er þetta öðruvísi", (This time it's different), sem Rogoff segir vera kaldhæðni. Þá var rætt um kalda sambúð Breta og ríkja Evrópusambandsins. Írar saka Breta um að hafa í tvígang brotið útgöngusaminginn úr ESB um stöðu Norður-Írlands. Í Bandaríkjunum er ráðamönnum umhugað um að Brexit stefni ekki friði á Norður-Írlandi í hættu. Írar hafa veruleg ítök vestanhafs, þar sem tugmilljónir rekja ættir sínar til eyjunnar grænu, þar á meðal Joe Biden forseti.

Bandaríkjaþing samþykkti í gærkvöld bjargráðapakka til að takast á við efnahagskreppuna sem fylgt hefur heimsfaraldrinum. Útgjöld vegna aðgerðanna eru áætluð upp á 1,9 billjónir dollara og er þeim einkum ætlað að koma fólki með meðal- og lágar tekjur til góða. Hver Bandaríkjamaður á að fá 1400 dollara ávísun. Þetta ræddu Þórunn Elísabet Bogadóttir og Björn Þór Sigbjörnsson við Boga Ágústsson í Heimsglugga vikunnar. Spáð er hagvexti í flestum vestrænum ríkjum á þessu ári eftir mikinn samdrátt vegna COVID-19 í fyrra. Þrátt fyrir það segir Kenneth Rogoff, hagfræðiprófessor við Harvard og einn virtasti hagfræðingur veraldar, að kreppunni sé ekki lokið. Við heyrum í Rogoff, sem skrifaði ásamt Carmen Reinhart bók um efnahagskreppur í 800 ár sem ber heitið ,,Núna er þetta öðruvísi", (This time it's different), sem Rogoff segir vera kaldhæðni. Þá var rætt um kalda sambúð Breta og ríkja Evrópusambandsins. Írar saka Breta um að hafa í tvígang brotið útgöngusaminginn úr ESB um stöðu Norður-Írlands. Í Bandaríkjunum er ráðamönnum umhugað um að Brexit stefni ekki friði á Norður-Írlandi í hættu. Írar hafa veruleg ítök vestanhafs, þar sem tugmilljónir rekja ættir sínar til eyjunnar grænu, þar á meðal Joe Biden forseti.

From minting coins to digital currencies, Anne McElvoy is joined by Harvard economist Kenneth Rogoff, British Museum coin curator Tom Hockenhull, historian of science Patricia Fara and political economist Ann Pettifor to explore the physical and virtual life of money as we approach the fiftieth anniversary of Decimal Day in the UK. The discussion ranges from the symbolism of images we find stamped on individual coins to the cashless society, and whether or not there is a magic money tree. February 15th 1971 was the date when the old British system of pounds, shilling and pence changed, following earlier unsuccessful attempts and the founding of a Decimal Association in 1841. But what is our relationship with money at the moment in a world of bitcoin, and paying by credit cards not loose change ? Patricia Fara's books include Life after Gravity: Isaac Newton's London Career; Pandora's Breeches - Women, Science and Power; Science: A Four Thousand Year History Tom Hockenhull is Curator of Modern Money in the Coins and Medals department at the British Museum which was built upon the various collections of Hans Sloane - amongst them were 20,000 coins. His books include Making Change: The decimalisation of Britain's currency and Symbols of Power : Ten Coins That Changed the World. Kenneth Rogoff is a Professor of Public Policy and Professor of Economics at Harvard University. From 2001-2003, he was Chief Economist and Director of Research at the International Monetary Fund. His books include The Curse of Cash; This Time Is Different: Eight Centuries of Financial Folly co-authored with Carmen Reinhart Ann Pettifor is the author of books including The Green New Deal, and The Production of Money. https://www.annpettifor.com/ Producer: Eliane Glaser. You might be interested in the episode of Radio 3's Words and Music broadcasting on Sunday February 21st at 5.30pm which features a series of readings and music exploring the idea of money. In the Free Thinking archives: "new money" and the wealth gap depicted in Edith Wharton's 1920 novel The Age of Innocence https://www.bbc.co.uk/programmes/m000c4ln Does Growth Matter? Anne McElvoy talks with demographer Danny Dorling and economists Richard Davies and Petr Barton https://www.bbc.co.uk/programmes/m000gbtl Economics: Anne McElvoy talks to Juliet Michaelson, Liam Byrne, John Redwood and Luke Johnson https://www.bbc.co.uk/programmes/p03qbv3q Linda Yueh gives the Free Thinking Festival Lecture on Globalisation and restoring faith in the free market https://www.bbc.co.uk/programmes/p062m7mj

Alberto Gallo, Algebris Investments Portfolio Manager, discusses fiscal policy and the risks of secular stagnation. Michael Holland, Holland & Co. Chairman, says tech companies will have some comeuppance over the next year, but will overall be okay. Jane Foley, Rabobank Head of FX Strategy, warns of the risks facing policy in a period of low growth and inflation. Kenneth Rogoff, Harvard University Professor and Former IMF Chief Economist, discusses the fiscal state of the U.S. and his skepticism of Bitcoin. Read Full Article

Alberto Gallo, Algebris Investments Portfolio Manager, discusses fiscal policy and the risks of secular stagnation. Michael Holland, Holland & Co. Chairman, says tech companies will have some comeuppance over the next year, but will overall be okay. Jane Foley, Rabobank Head of FX Strategy, warns of the risks facing policy in a period of low growth and inflation. Kenneth Rogoff, Harvard University Professor and Former IMF Chief Economist, discusses the fiscal state of the U.S. and his skepticism of Bitcoin. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Alberto Gallo, Algebris Investments Portfolio Manager, discusses fiscal policy and the risks of secular stagnation. Michael Holland, Holland & Co. Chairman, says tech companies will have some comeuppance over the next year, but will overall be okay. Jane Foley, Rabobank Head of FX Strategy, warns of the risks facing policy in a period of low growth and inflation. Kenneth Rogoff, Harvard University Professor and Former IMF Chief Economist, discusses the fiscal state of the U.S. and his skepticism of Bitcoin.

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center and a returning guest to Macro Musings. He joins the podcast today to talk about his ongoing work on the Princeton School of Macroeconomics as well as his thoughts on monetary policy in 2021. Specifically, David and Scott discuss the economic contributions of various different Princeton economists as well as how the central bank can overcome inflationary fears and establish further institutional credibility.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Scott’s automated Twitter: @MoneyIllusion Scott’s blog: https://www.themoneyillusion.com/ Scott’s Mercatus profile: https://www.mercatus.org/scholars/scott-sumner   Related Links:   *It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap* by Paul Krugman, Kathryn Dominguez, and Kenneth Rogoff https://www.brookings.edu/bpea-articles/its-baaack-japans-slump-and-the-return-of-the-liquidity-trap/   *Great Expectations and the End of the Depression* by Gauti Eggertsson https://www.jstor.org/stable/29730131?seq=1   *The Zero Bound on Interest Rates and Optimal Monetary Policy* by Gauti Eggertsson and Michael Woodford https://www.brookings.edu/bpea-articles/the-zero-bound-on-interest-rates-and-optimal-monetary-policy/   *Methods of Policy Accommodation at the Interest-Rate Lower Bound* by Michael Woodford https://kansascityfed.org/publicat/sympos/2012/mw.pdf   *Bernanke’s No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?* By Gauti Eggertsson and Kevin Proulx https://www.nber.org/papers/w22243   *Japanese Monetary Policy: A Case of Self-Induced Paralysis?* by Ben Bernanke https://www.princeton.edu/~pkrugman/bernanke_paralysis.pdf   *Implementing Optimal Policy through Inflation-Forecast Targeting* by Lars Svensson and Michael Woodford https://www.nber.org/papers/w9747   *Escaping from a Liquidity Trap and Deflation: The Foolproof Way and Others* by Lars Svensson https://www.nber.org/papers/w10195   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

Ethan Ilzetzki is an associate professor of economics at the London School of Economics and a research affiliate with the Centre for Economic Policy Research. Ethan is also a returning guest to the show, and he re-joins Macro Musings to talk about the European Central Bank’s big strategy review, the future of the Euro, and whether change is afoot in our international monetary system.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Ethan’s Twitter: @ilzetzki Ethan’s website: https://www.ilzetzki.com/   Related Links:   *Why Is the Euro Punching Below Its Weight?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff https://www.nber.org/papers/w26760   *Will the Secular Decline in Exchange Rate and Inflation Volatility Survive COVID-19?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff https://www.brookings.edu/bpea-articles/will-the-secular-decline-in-exchange-rate-and-inflation-volatility-survive-covid-19/   Centre for Macroeconomics Panel of Experts Surveys: https://cfmsurvey.org/surveys   Register for the AEA’s 2021 Virtual Annual Meeting: https://www.aeaweb.org/conference/   *Ethan Ilzetzki on the US Dollar as an Anchor Currency* https://macromusings.libsyn.com/56-ethan-ilzetzki-on-the-us-dollar-as-an-anchor-currency   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/

US media reports president-elect Joe Biden is to pick Janet Yellen as treasury secretary. Ms Yellen was previously chair of the US central bank the Federal Reserve, and we get perspectives on what her appointment would mean for the US economy from Alicia Munnell, professor of management sciences at Boston College's Carroll School of Management, and Kenneth Rogoff, professor of economics at Harvard University, both of whom know Janet Yellen well. Also in the programme, Spain's government has approved a vaccine strategy that would see a substantial part of the population covered within six months of a programme expected to start in January. Inigo Fernandez de Mesa is a former deputy finance minister in Spain, and vice-president of the country's main business association CEOE, and discusses how his members are feeling about the future. And professor Nuria Mas is a health economist at the IESE Business School in Barcelona, and member of the Spanish central bank's governing council, who gives us her thoughts on the country's biggest challenge. Our regular workplace commentator, Stephanie Hare, offers tips for people who are losing their job during the pandemic. Plus, as the winners of this year's gaming industry Oscars, the Golden Joystick Awards, are unveiled, we hear what impact it has on the industry from Daniel Dawkins, who is one of the event's organisers. (Picture: Janet Yellen. Picture credit: Reuters.)

A reading of Kenneth Rogoff’s latest piece on the strange reality of the dollar’s global status. This episode is sponsored by Crypto.com and Nexo.io.On this week’s edition of Long Reads Sunday, NLW reads former IMF chief and current Harvard economist Kenneth Rogoff’s latest Op-Ed, “The Calm Before the Exchange Rate Storm” in Project Syndicate.

On this week’s edition of Long Reads Sunday, NLW reads former IMF chief and current Harvard economist Kenneth Rogoff’s latest Op-Ed, “The Calm Before the Exchange Rate Storm” in Project Syndicate.

After a century-long decline, mortality rates in the U.S. have flattened- even increased for non-Hispanic whites in middle age. In this podcast, Nobel laureate, Angus Deaton describes how people are dying at an alarming rate from suicides, drug overdoses and alcohol-related diseases, and how the largest increases in mortality are happening among those without a bachelor's degree. In their latest book titled Deaths of Despair, Deaton and Princeton economist Anne Case look at how approaches to healthcare and inequality relate to the rising mortality rates. Professor Deaton was invited by the Institute for Capacity Development to present their research to IMF economists. He joined me afterward to talk about the B.A./non-B.A. divide in the United States. Transcript Read the REVIEW of Deaths of Despair by Kenneth Rogoff. Angus Deaton is Professor Emeritus at Princeton and Presidential Professor of Economics at the University of Southern California. He was awarded the Nobel Prize in Economics in 2015 for his work on consumption, poverty, and welfare.

Eugene Scalia, U.S. Secretary of Labor, says we are making real headway on the employment picture. Mike Feroli, JPMorgan Chief U.S. Economist, says further stimulus would be insurance against a relapse into more economic weakness. Dr. Peter Hotez, Baylor College of Medicine Dean, says a widely distributed Covid-19 vaccine will not be ready by the end of this year. Kenneth Rogoff, Harvard University Public Policy and Economics Professor, says negative interest rates should absolutely still be on the table. Anne Richards, Fidelity International CEO, says dividend cuts by companies are not all permanent, but some will be. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Eugene Scalia, U.S. Secretary of Labor, says we are making real headway on the employment picture. Mike Feroli, JPMorgan Chief U.S. Economist, says further stimulus would be insurance against a relapse into more economic weakness. Dr. Peter Hotez, Baylor College of Medicine Dean, says a widely distributed Covid-19 vaccine will not be ready by the end of this year. Kenneth Rogoff, Harvard University Public Policy and Economics Professor, says negative interest rates should absolutely still be on the table. Anne Richards, Fidelity International CEO, says dividend cuts by companies are not all permanent, but some will be.

Government deficits, debt issuance and debt levels are set to surge as countries race to ease the economic impact of the coronacrisis. This raises many questions: who will finance this debt, will it force a market repricing and/or an eventual growth or inflation problem, and would greater use of negative rates help avoid any of these risks? At the same time, whether corporate bankruptcies could derail the economic recovery is a key concern. In short, how disruptive the recent, dramatic shift in debt dynamics might be is Top of Mind. In this episode, Allison Nathan consults Harvard professor Kenneth Rogoff, University of Pennsylvania’s David Skeel, and Goldman Sachs’ chief economist Jan Hatzius. Our key takeaways: the benefit of running large deficits today far outweighs any eventual costs; worries about distress in emerging markets and the Euro area are largely warranted; and a likely wave of corporate bankruptcies could prolong—but likely won’t derail—the economic recovery.

There’s little debate that Covid-19 has crushed economies and triggered government rescue efforts not seen in modern times. On this week’s episode, World Bank Chief Economist Carmen Reinhart and fellow Harvard professor Kenneth Rogoff, authors of “This Time Is Different: Eight Centuries of Financial Folly,” discuss what comes next with Bloomberg Economics executive editor Simon Kennedy. The depth of the U.S. recession isn’t the only way in which this time is different. While tens of millions are newly unemployed or working fewer hours, new pandemic-adjacent occupations are emerging. Host Stephanie Flanders talks with Bloomberg global business reporter Jeff Green about these new jobs, such as contract tracer and thermal scanner.

WGuest speakers include Lisa Damour, Jacob Appel, Richard De Veaux, Kenneth Rogoff, Willem Buiter, Chad Syverson, Joel Kotkin, Angela Stent, Dan Diehl, and Steve Adler.

The MMT crowd want to give the government unlimited power to borrow and spend money; half their audience thinks this is great because -along with everyone else- it already owes so much money that it can't possibly allow interest rates ever to rise; and Kenneth Rogoff wants to PAY the state to borrow, not charge it for the privilege. Running the printing presses hard, behind the scenes, stands everyone's favourite open-handed uncle - Fed Chairman Jay Powell.

Carola Binder is an assistant professor of economics at Haverford College and is an associate editor of the Journal of Money, Credit, and Central Banking. Carola is also a member of the CEPR Research and Policy Network on Central Bank Communication, and joins the show today to discuss her work on central banking and populism. David and Carola also discuss the link between central bank credibility and popularity, the twin deficits of central banking, and why NGDP targeting could be an easy transition point from current inflation targeting regimes.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/11252019/carola-binder-political-pressure-and-twin-deficits-central-banking   Carola’s Twitter: @cconces Carola’s blog: https://carolabinder.blogspot.com/   Related Links:   *Political Pressure on Central Banks* by Carola Binder https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3244148   *Whose Expectations Augment the Phillips Curve?* by Carola Binder https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2789750   *Federal Reserve Communication and the Media* by Carola Binder https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2835574   *Comment on “Central Bank Accouncements: Big News for Little People” by Michael Lalma and Dmitri Vinogradov* by Carola Binder https://www.sciencedirect.com/science/article/abs/pii/S0304393219301461   *We Asked Fed Watchers to Rate the Fed’s Communications – Here’s What We Found* by Peter Olson and David Wessel https://www.brookings.edu/research/we-asked-fed-watchers-to-rate-the-feds-communications/   *The Optimal Degree of Commitment to an Intermediate Monetary Target* by Kenneth Rogoff https://scholar.harvard.edu/files/rogoff/files/51_qje85.pdf   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

In einer neuen Folge von "Lauer und Wehner" sprechen Ulrich und Christopher über Beugehaft für Politiker, die sich nicht an Gerichtsbeschlüsse halten, über sogenannte SUVs, über die sogenannte Schwarze Null und viele andere Themen. Zunächst geht es um Boris Johnson, der vor einem schottischen Gericht bezüglich seiner Verlängerung der Parlamentsferien, der "Prorogation" scheiterte. Der Fall geht nun vor den britischen Supreme Court. Firmen, die "Vote Leave" unterstützen wetten derweil an der Börse auf negative Folgen des Brexits für die britische Wirtschaft. Den von Christopher erwähnten Tweet findet man hier. Im Anschluss geht es um Beugehaft für Regierungsmitglieder, die sich nicht an Gerichtsbeschlüsse halten. In der vergangenen Woche war vor dem EuGH eine mündliche Verhandlung zu diesem Thema. Aus Ulrich Wickerts Buch "Redet Geld, schweigt die Welt - Was uns Werte wer sein müssen", liest Christopher danach vor. Es kommt zu einem Exkurs über eine ZDF-Doku über Königin Maxima der Niederlanden. Informationen zum fundamentalen Attributionsfehler findet ihr hier. In der letzten Woche wurde die Öffentlichkeit durch einen schweren Verkehrsunfall in Berlin Mitte erschüttert. Ulrich und Christopher reden über den Fall im Speziellen und was daraus für die Verkehrspolitik im Allgemeinen folgen muss. Das von Christopher erwähnte Foto findet ihr hier. Informationen zum Unfall in Thüringen findet ihr hier. Hiernach sprechen Ulrich und Christopher in aller Kürze über die neue EU-Kommission, die jetzt zusammen gestellt ist. Eigentlich wollten sie nicht darüber sprechen, tun es dann aber doch ganz kurz: Die bevorstehende Wiedereinführung der Meisterpflicht. Zum Schluss geht es dann um und über die sogenannte Schwarze Null, also die Vorstellung, dass ein Bundeshaushalt, der seine Ausgaben durch die Einnahmen deckt, besonders toll ist. In diesem Zusammenhang erwähnt Christopher die Harvard Ökonomïnnen Carmen Reinhart und Kenneth Rogoff, ihre (falsche) Theorie und wie ihr Fehler aufflog. Zusätzliche Informationen dazu findet ihr hier. Weil es auch kurz um die Klimakatastrophe geht, erwähnt Christopher eine Studie, wonach die Menschheit 1,8 Billionen US-Dollar ausgeben müsste, um die gröbsten Folgen der Veränderungen abzufedern. Den Artikel dazu findet ihr hier. Wie immer freuen wir uns über Feedback und Anregungen. Unterstützt "Lauer und Wehner" durch einen Dauerauftrag auf das folgende Konto: IBAN: DE25700222000020192089 BIC: FDDODEMMXXX Oder über eine Zuwendung per Paypal Folgt @LauerundWehner auf Twitter Den Feed des Podcasts findet ihr hier. "Lauer und Wehner" gibt es auch auf Spotify. "Lauer und Wehner" auf iTunes. "Lauer und Wehner" auf YouTube. Dieser Podcast hat Kapitelmarken. Sollte Dein Podcastprogramm diese nicht anzeigen, sind hier die Zeiteinträge zur Orientierung: 00:00:00.000 Begrüßung 00:03:11.631 Was ist "Lauer und Wehner"? 00:05:25.012 Intermezzo: Ulrich war beim Richterbund 00:10:33.750 Aktuelles zum Brexit, Prorogation kommt vor den Supreme Court 00:21:18.979 EuGH zu Beugehaft für Regierungsmitglieder 00:37:59.725 Lesung aus "Redet Geld, schweigt die Welt" 00:53:39.075 Sogenannte SUVs 01:22:57.113 Neue EU-Kommission 01:31:01.662 Wiedereinführung der Meisterpflicht 01:35:24.321 Die sogenannte Schwarze Null 02:01:13.106 Verabschiedung

Joe Gagnon is a senior fellow at the Peterson Institute for International Economics where he has been since September 2009. Previously, Joe worked for the Federal Reserve Board of Governors as a senior economist and the associate director of both the Division of International Finance and the Division of Monetary Affairs, and he has also served at the US Treasury Department.  Joe is a returning guest to Macro Musings and joins the show today to talk about the growing interest among U.S. politicians in managing the currency to help facilitate trade imbalances. David and Joe also discuss the policy implications of trade imbalances, the new Libra currency, and how to us countervailing currency intervention to combat currency manipulation.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/07152019/currency-manipulation-trade-imbalances-and-libra   Joe’s Twitter: @GagnonMacro Joe’s PIIE profile: https://www.piie.com/experts/senior-research-staff/joseph-e-gagnon?author_id=653   Related Links:   *Currency Conflict and Trade Policy: A New Strategy for the United States* by Joe Gagnon and Fred Bergsten https://www.piie.com/bookstore/currency-conflict-and-trade-policy-new-strategy-united-states   *The Financial Market Effects of the Federal Reserve’s Large-Scale Asset Purchases* by Joe Gagnon, Matthew Raskin, Julie Remache, and Brian Sack https://www.ijcb.org/journal/ijcb11q1a1.htm   *A Plan for Economic Patriotism* proposal by Elizabeth Warren https://medium.com/@teamwarren/a-plan-for-economic-patriotism-13b879f4cfc7   *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff* https://www.nber.org/papers/w23134   *Did France Cause the Great Depression* by Douglas Irwin https://www.nber.org/papers/w16350   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

The United States Treasury Bill — an IOU issued by the federal government — has long been considered a risk-free investment. It may not offer a high return these days but at least you're sure to get your money back, they say. After all, the U.S. has never defaulted on its debt in its 240-year history.In studying the 16-year long saga of Argentina's default (which began in 2001), UCLA economics professor Sebastian Edwards frequently heard this view expressed, only to discover that it was not true.His new book, American Default: The Untold Story of FDR, the Supreme Court, and the Battle over Gold (Princeton University Press, 2018) documents a forgotten episode in which the U.S. technically defaulted on its debts in the form of President Roosevelt's 1934 devaluation of the dollar.Most economists agree that the Great Depression was worsened by the collapse in prices — especially commodity prices — which made it impossible for farmers and others to earn a reasonable living or pay back their loans. The sudden rush by the public to hoard gold depleted the financial system of the backing for money, leading to a rapid deflation that crushed borrowers beneath burdensome debts.One solution, widely acknowledged since Milton Friedman and Anna Schwarz's Monetary History of the United States, is to create inflation by printing money and devaluing the dollar. However, lending contracts in the 1930s period frequently contained a clause that required debts to be paid back in gold or gold-equivalent. This meant that any devaluation attempt would correspond to even higher dollar payments, sinking debtors even further into debt.FDR improvised, and on the urging of a heterodox economist named George Warren doubled the price of an ounce of gold with the stroke of a pen, while simultaneously abrogating the gold-backing clauses that would have otherwise thwarted his plan.Buy the book: American Default: The Untold Story of FDR, the Supreme Court, and the Battle over Gold. Princeton University Press, 2018, Sebastian EdwardsOddly, Friedman and Schwarz largely neglected this vital chapter of the Great Depression. The first book-length study of the dollar devaluation, American Default splits its focus between the economics and the legal challenges of FDR's devaluation. 68 pages are dedicated the Supreme Court decision — frequently read in law schools — that upheld FDR's move as constitutional, since the U.S. still technically paid back its creditors (albeit in devalued dollars).If this doesn't debunk the notion that default could never happen here, we might take a look at the U.S. government's debt as a percentage of GDP. Edwards notes that his colleagues Carmen Reinhardt and Kenneth Rogoff's research shows that 90% debt-to-GDP ratios have been the historical tipping point triggering default in places like Turkey, Argentina, Mexico, Russia and Chile.We've been watching Venezuela's slow-motion meltdown at the hands of populist macroeconomics. Could such a fate await the United States if we continue down the path of unsustainable entitlement spending?Sebastian Edwards joined me for the full hour to discuss his research on the politics and economics of FDR's devaluation, and the parallels to the populist macroeconomics of today.

Brad Setser is a senior fellow for international economics at the Council on Foreign Relations where he works on macroeconomics, global capital flows, and financial crises. Brad also served as a deputy assistant secretary at the U.S. Treasury Department from 2011 to 2015 where he worked on Europe’s financial crisis, currency policy, financial sanctions, commodity shocks, and Puerto Rico’s debt crisis. Brad joins the show today to talk about global economic imbalances and why we should care about them. David and Brad also discuss emerging market tensions in Turkey, the implications of running current account deficits, and the economic dangers accompanying the existence of a monetary superpower. Brad’s blog: https://www.cfr.org/blog/Setser Brad’s Twitter: @Brad_Setser Related Links: *Putin’s Unlikely Ally in His Standoff With the West: His Central Banker* by Anatoly Kurmanaev https://www.wsj.com/articles/putins-unlikely-ally-in-his-standoff-with-the-west-his-central-banker-1534773380 *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, & Kenneth Rogoff http://www.nber.org/papers/w23134 David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth Want to get your hands on a signed copy of Tyler Cowen’s new book Stubborn Attachments before it hits bookstores on October 16th? Rate and review your favorite Mercatus podcast, including Macro Musings, Conversations with Tyler, the Hayek Program Podcast, or the Mercatus Policy Download on Apple Podcasts and you’ll be entered to win: get.mercatus.org/podcastcontest/

Kenneth Rogoff, Harvard University Professor, and Laura Tyson, Berkeley Haas School School of Business Distinguished Professor, discuss tax cuts, the deficit, and the dollar. Jacob Frenkel, JPMorgan Chase International Chairman, thinks we should shift the discussion from nominal exchange rate to real exchange rate. Michael Neidorff, Centene CEO, says they've done very well with the Affordable Care Act. Anthony Scaramucci, Former White House Communications Director, says President Trump's delegation in Davos indicates they're going to cooperate with the global community. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Kenneth Rogoff, Harvard University Professor, and Laura Tyson, Berkeley Haas School School of Business Distinguished Professor, discuss tax cuts, the deficit, and the dollar. Jacob Frenkel, JPMorgan Chase International Chairman, thinks we should shift the discussion from nominal exchange rate to real exchange rate. Michael Neidorff, Centene CEO, says they've done very well with the Affordable Care Act. Anthony Scaramucci, Former White House Communications Director, says President Trump's delegation in Davos indicates they're going to cooperate with the global community.

Jeffrey Rogers Hummel is a professor of economics at San Jose State University and writes on macroeconomics and economic history. Today, Jeff joins the show to discuss his work on the Fed’s interventions during the Great Recession. He also dispels some myths about the extent to which the Fed really influences interest rates. Finally, he explains why he believes that cash plays an important role in society and why recent proposals to abolish cash are misguided. David’s blog: macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David’s Twitter: @DavidBeckworth Jeff Hummel’s San Jose State University profile: http://www.sjsu.edu/economics/faculty/jeff.hummel.html Related links: “Central Bank Control over Interest Rates: The Myth and the Reality” by Jeffery Rogers Hummel https://www.mercatus.org/publications/central-bank-control-interest-rates “Ben Bernanke vs. Milton Friedman: The Federal Reserve’s Emergence as the U.S. Economy’s Central Planner” by Jeffrey Rogers Hummel http://www.independent.org/publications/tir/article.asp?a=824 “The War on Cash: A Review of Kenneth Rogoff’s *The Curse of Cash*” by Jeffrey Rogers Hummel https://econjwatch.org/articles/the-war-on-cash-a-review-of-kenneth-rogoff-s-the-curse-of-cash

Kenneth Rogoff, a professor at Harvard University, says central bankers should've been more aggressive during the financial crisis and that India's demonetization was done too quickly. Prior to that, Kathy Matsui, chief Japan equity strategist at Goldman Sachs Japan, says Japanese companies are strong. Robert Shiller, a professor at Yale University, says New York City housing is more affordable than people think. Finally, New Orleans Mayor Mitch Landrieu says Washington's stuck making the same mistakes in health care. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Kenneth Rogoff, a professor at Harvard University, says central bankers should've been more aggressive during the financial crisis and that India's demonetization was done too quickly. Prior to that, Kathy Matsui, chief Japan equity strategist at Goldman Sachs Japan, says Japanese companies are strong. Robert Shiller, a professor at Yale University, says New York City housing is more affordable than people think. Finally, New Orleans Mayor Mitch Landrieu says Washington's stuck making the same mistakes in health care.

Ethan Ilzetzki is an assistant professor of economics at the London School of Economics and a research affiliate at the Centre for Economic Policy Research. He joins the show to discuss exchange rate regimes, anchor currencies, and the new Triffin dilemma. Ethan points out how the U.S. dollar is connected to a staggering 70 percent of global GDP. David and Ethan discuss what the dollar’s dominant role in the global economy means for U.S. monetary policy, both at home and abroad. David’s blog: http://macromarketmusings.blogspot.com/ Ethan Ilzetzki’s LSE profile: http://personal.lse.ac.uk/ilzetzki/index.htm/ David’s Twitter: @DavidBeckworth Ethan Ilzetzki’s Twitter: @ilzetzki Related links: “Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?” by Ethan Ilzetzki (with Carmen Reinhart and Kenneth Rogoff) http://personal.lse.ac.uk/ilzetzki/index.htm/Research/Ilzetzki&Reinhart&Rogoff.pdf “How Big (Small?) are Fiscal Multipliers?” by Ethan Ilzetzki (with Enrique G. Mendoza and Carlos A. Vegh) http://www.sciencedirect.com/science/article/pii/S030439321200116X

Nouriel Roubini, a professor at NYU's Stern School of Business, discusses Donald Trump and says France's Le Pen would be the end of Europe. Prior to that, Joseph Stiglitz, a professor at Columbia University's School of International and Public Affairs, says the rule of law is an issue under Trump's presidency. Harvard's Kenneth Rogoff says he's concerned about the new administration's relationship with the Fed. Then, Robert Shiller, a Nobel economist and Yale professor, says Trump brings uncertainty and inspiration at the same time. David Lipton, the IMF's first deputy managing director, says interconnectedness has helped people achieve higher living standards. Finally, John Studzinski, vice-chair of the Blackstone Group, says Davos is the 1 percent of the 1 percent talking to themselves with no one represented from the other 99 percent -- and having more youth in the room in Davos would make a big difference. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

In this episode, I discuss an interview with Harvard economist Kenneth Rogoff. I discussed Rogoff and the “War on Cash” …Continue reading →

Morning Prayers service with speaker Kenneth Rogoff on Tuesday, March 29, 2016.

Doug Goldstein has over 20 years in the financial planning and services industry, beginning his career on Wall Street in 1992 at Dean Witter. Doug is a Certified Financial Planner, registered Investment  Advisor, Trust and Estate Practitioner, and a licensed investment professional. Doug is the founder and director of Profile Investment Services, Ltd and hosts two podcasts on iTunes called Goldstein on Gelt and Rich As A King. Doug has authored numerous books on financial planning and building wealth and is co-author of Rich As A King: How the Wisdom of Chess Can Make You The Grandmaster of Investing. Doug is quoted in many publications such as The Wall Street Journal and Forbes, as well as guest lecturing on investment in colleges. Economic Themes: In this interview, Doug mentions and discusses: investment planning, stock markets, over-confidence, behavioral finance, loss aversion, prospect theory, personal finance, strategic finance, interest rates, bonds, risk, liquidity risk, hedge funds, Economists and Economic Schools: In this interview, Doug mentions: Terence Odean, Daniel Kahneman and Kenneth Rogoff. Find Out: about two women in Doug's life who smashed the glass ceiling in their respective careers. about the financial planning lessons Doug learned from his mother and grandmother. if women make better financial planners or investors than men. if trading markets more frequently leads to better returns. how the patience of chess playing is similar to the patience needed when planning your stock market trades. why the fear of losing results in investors making bad decisions. what you should do if you have a question about your business. how the concepts of improving your game in chess is the same as that of investment and financial planning. about the difference between short-term and long-term financial planning. how a game of chess is bounded unlike the uncertainties of a stock market and what you can do to manage these uncertainties. 'how the News causes you to Lose'. how goal-setting can get you out of the bottom of the socio-economic ladder. who Doug would be if he was a chess piece. and much much more. Visit www.economicrockstar.com to get access to the show notes and all the links referred to by Doug in this episode.

Le prove scientifiche alla base delle politiche di austerità applicate in messo mondo sono state confutate. Come? I dati erano allineati male nei fogli di Excel utilizzati nell'autorevole ricerca di Carmen Reinhart e Kenneth Rogoff. A scoprirlo un dottorando. Sembra una battuta e invece è la realtà.In questa puntata, parliamo anche della rimozione della Concordia, del Bullismo e degli effetti negativi sulla salute delle vittime e vi preannunciamo le prossime inchieste che realizzeremo.Buon ascolto!

Economist Dean Baker and Jay Ackroyd discuss the current state of the economics profession. More here: Center for Economic Policy & Research http://www.cepr.net/ Follow @deanbaker13 @jayackroyd @ceprdc

Tim Harford tells the story of the student who uncovered a mistake in a famous economic paper that has been used to make the case for austerity cuts. In 2010, two Harvard economists published an academic study, which showed that when government debt rises above 90% of annual economic output, growth falls significantly. As politicians tried to find answers to the global economic crisis, “Growth in a Time of Debt” by Carmen Reinhart and Kenneth Rogoff was cited by some of the key figures making the case for tough debt-cutting measures in the US and Europe. But, in the course of a class project, student Thomas Herndon and his professors say they have found problems with the Reinhart-Rogoff findings. What does this mean for austerity economics?

Carmen Reinhart of the University of Maryland talks with EconTalk host Russ Roberts about the ideas in her book This Time is Different: Eight Centuries of Financial Folly (co-authored with Kenneth Rogoff). They discuss the role of capital inflows in financial crises, the challenges of learning the right lessons, and what is generally true about financial crises over time and place. Reinhart applies these observations to the current crisis, discusses the possibility of the U.S. defaulting on its sovereign debt, and discusses the possibility of financial reforms that might make a difference.

Carmen Reinhart of the University of Maryland talks with EconTalk host Russ Roberts about the ideas in her book This Time is Different: Eight Centuries of Financial Folly (co-authored with Kenneth Rogoff). They discuss the role of capital inflows in financial crises, the challenges of learning the right lessons, and what is generally true about financial crises over time and place. Reinhart applies these observations to the current crisis, discusses the possibility of the U.S. defaulting on its sovereign debt, and discusses the possibility of financial reforms that might make a difference.

Carmen Reinhart of the University of Maryland talks with EconTalk host Russ Roberts about the ideas in her book This Time is Different: Eight Centuries of Financial Folly (co-authored with Kenneth Rogoff). They discuss the role of capital inflows in financial crises, the challenges of learning the right lessons, and what is generally true about financial crises over time and place. Reinhart applies these observations to the current crisis, discusses the possibility of the U.S. defaulting on its sovereign debt, and discusses the possibility of financial reforms that might make a difference.

On March 13, financial ministers and central bankers of the world's economic superpowers will meet in London to lay the groundwork for next month's crucial meeting of their country's leaders, known as the G20. Will their work revolutionize the global economy and lift us out of this economic hole, or will politics get in the way? David Brancaccio interviews Kenneth Rogoff, Harvard economics professor and former chief economist of the International Monetary Fund, about how high we should raise our hopes and what's at stake for America and the world.

Mike talks with Dr. Kenneth Rogoff, Professor of Economics and Thomas D. Cabot Professor of Public Policy at Harvard University. From 2001–2003, Dr. Rogoff was Chief Economist at the International Monetary Fund. He's a senior fellow at the Council on Foreign Relations, serves on the Economic Advisory Panel of the New York Federal Reserve, and is a member of the National Academy of Sciences as well as the American Academy of Arts & Sciences. Dr. Rogoff's books include 'Foundations of International Macroeconomics', the standard graduate text in the field, 'This Time Is Different: Eight Centuries of Financial Folly', and, most recently, 'The Curse of Cash: How Large-Denomination Bills Aid Crime & Tax Evasion and Constrain Monetary Policy', which just came out in an updated paperback edition. In this interview, Mike and Dr. Rogoff discuss: - commonalities in financial crises - the challenges of analyzing eight centuries of financial data - whether Dodd-Frank was a step in the right direction - why stability is inherently destabilizing - the inevitability of financial crises - why there are so many $100 bills in circulation - who benefits from large denomination bills - recommendations for macroeconomic literacy - and lots more! Dr. Rogoff Recommends - Lords of Finance. Liaquat Ahamed (http://amzn.to/2tn74OE) - Economix. Michael Goodwin (http://amzn.to/2tmD3yN) - The Economist (https://www.economist.com/) Follow Dr. Rogoff on Twitter (https://twitter.com/krogoff) Dr. Rogoff's Website (http://www.kennethrogoff.com/) Interested in supporting the show and getting even more Politics Guys content? Check out our Insiders program at https://www.patreon.com/politicsguys Your support of our sponsors helps keep The Politics Guys going. The sponsors of this show are: Dollar Shave Club, where new members get their 1st month of the Executive Razor with a tube of their Dr. Carver's Shave Butter for ONLY $5 with FREE shipping. To take advantage of this great deal go to https://www.dollarshaveclub.com/TPG ZipRecruiter. Politics Guys listeners can post jobs on ZipRecruiter for FREE by going to https://www.ziprecruiter.com/politicsguy Support this podcast at — https://redcircle.com/the-politics-guys/donations Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy