Arguments for and against Central Bank Digital Currencies (CBDCs)

Nicholas Anthony is a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives and works on issues relating to financial privacy, cryptocurrencies, and the use of money in society. Nicholas joins Macro Musings to talk about central bank digital currencies (CBDCs) and the recent developments surrounding CBDCs at the Fed and in Congress. Specifically, David and Nicholas discuss the arguments for and against CBDCs, the preemptive, behavioral, and punitive applications of these currencies, who would benefit from the development of CBDCs, and a lot more.

Transcript for this week’s episode.

Nicholas’s Twitter @EconWithNick

Nicholas’s Cato Institute profile

David Beckworth’s Twitter: @DavidBeckworth

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Related Links:

*Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths* by Nicholas Anthony and Norbert Michel

*CBDC Legislation Recap* by Nicholas Anthony

*House Hearing and FOIA Reveals Fed’s Stance on CBDC* by Nicholas Anthony

*The Fed’s Questionable CBDC Campaign* by Nicholas Anthony

*Who Really Benefits from CBDCs? It’s Not the Public* by Nicholas Anthony and Norbert Michel

*Questions of CBDC Cronyism Emerge as Fed Launches Pilot* by Nicholas Anthony

*Nigerians’ Rejection of Their CBDC is a Cautionary Tale for Other Countries* by Nicholas Anthony

*Nigeria’s CBDC Was Not Chosen. It Was Forced* by Nicholas Anthony

*The Risks of CBDCs: Why Central Bank Digital Currencies Shouldn’t Be Adopted* by Norbert Michel and Nicholas Anthony

*The Digital Euro: A Solution Seeking a Problem?* by Martin Arnold and Sam Fleming