Contrasting Perspectives on Stablecoins and Banking Practices

Jerry Dwyer is a professor emeritus of economics at Clemson, a vice president at the Federal Reserve Bank of Atlanta and is currently a senior fellow at the Bitcoin Policy Institute. In Jerry’s first appearance on the show, he discusses what it was like having Milton Friedman as a mentor, the history of free banking, the status of cryptocurrencies including Bitcoin, and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on July 22nd, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Jerry on X: @GPDwyer

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel 

Timestamps

00:00:00 - Intro

00:01:24 - Jerry’s Career

00:12:01 - Free Banking Period

00:28:37 - Bitcoin and Stablecoins

00:55:44 - Outro