The End of an Era? Why Bitcoin and MMT Won the Week

Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.

AccessTimeIconAug 29, 2020 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 9:49 a.m. UTC
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Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.

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This episode is sponsored by Crypto.comBitstamp and Nexo.io.

On The Breakdown’s Weekly Recap, NLW looks at the shifting sands of the global economy. He says Federal Reserve Chair Jerome Powell’s speech at Jackson Hole this week was an argument that an era that began in the 1970s is now closing. 

At the same time, he argues Powell did very little to provide a vision for what comes next. Instead, it is the alternative economic philosophies – Modern Monetary Theory on the one side, Bitcoin on the other – that are attracting people for a different vision of the future.

This week on The Breakdown:

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