One theme that will emerge is that depressed long-term growth prospects put sustained downward pressure on interest rates. To the extent that low long-term interest rates tell us that the outlook for economic growth is poor, all of us should be very concerned, for--as we all know-economic growth lies at the heart of our nation’s, and the world’s, future prosperity.
In China, for example, within a decade payments have shifted from cash to mobile payments, which are controlled by two large private technology firms. [7] The planned introduction of a public digital currency can be seen as a means of managing the risks of this digital transition, in order to maintain trust in payments.