Podcast: Dr. William White on the Unintended Consequences of Central Banks’ Easy Money

Dr. William White sits down with Jack Farley to explain his fear of the central banks making a serious policy error by looking at the past, the present, and what could be our future.

article-image
share

Listeners of my Forward Guidance podcast are in for a real treat with today’s latest interview. 

Dr. William White, the central banker who foresaw the 2008 financial crisis and dared to challenge former Federal Reserve Chairman Alan Greenspan’s policy of cheap money, is once again worried that central banks are in danger of making a serious policy error.

White told me why he thinks ultra-low interest rates threaten financial stability and create a bevy of unintended consequences such as flash crashes, overvalued asset prices and abrupt illiquidity. 

White also shared his views on whether the US dollar’s status as the world’s reserve currency is sustainable, and why bond yields remain low in face of the red-hot inflation that has descended on so many countries.

Lastly, White made the case that these economic woes are but one of the major four challenges the world faces, with the other three of the “Four Horsemen” being in the spheres of politics, public health and the environment.

Watch the full episode below! 👇

Forward Guidance is a show dedicated to uncovering the heart of this conundrum. Twice a week, I’ll be speaking directly with fund managers, analysts, and financial industry professionals about how investors can grow and protect their wealth in this brave new macro world. These episodes air on Tuesday and Friday.

Listen to episodes of Forward Guidance on YouTube, Spotify or Apple Podcasts.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /