on April 13, 2015 in World News
Citi Economist Says It Might Be Time to Abolish Cash
Citi Economist Says It Might Be Time to Abolish Cash Would this save the world economy? The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy. In a new piece, Citi’s Willem Buiter looks at this problem,… View Article
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