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

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

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

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Sponsored

Injective is not waiting for the future of finance. It is bringing it directly to us, today.

article-image

Bitcoin has been bullish for nearly 1,000 days

article-image

Robinhood announced that it’s building an L2 and also plans to launch staking for US users

article-image

“We’re not really doing anything controversial,” said co-founder Zak Folkman at Permissionless last week

article-image

Why equities are more stable than in past decades, plus advice from Peter Lynch

article-image

As Permissionless speakers talk on-chain RWA potential, tokenized stock platform Dinari secures FINRA broker-dealer approval