In this discussion, Nassim Nicholas Taleb, a renowned scholar and risk analyst, was interviewed by Tom Keene at the Bloomberg Invest New York 2023 event. Taleb discussed a variety of pressing financial matters, including Bitcoin and cryptocurrencies, central bank interest rates, and the future of finance.
Taleb argued that Bitcoin and cryptocurrencies are inefficient for transactions, are losing their appeal to illegal actors, and are vulnerable to be replaced by federal digital currencies. He also warned about the dangerous complacency and misunderstanding of risk in the financial world, citing the unexpected collapse of Swiss banks and the rapid rise in inflation that caught central banks off guard. He argued that central banks should gradually adjust interest rates and should not be seen as the ultimate solution to economic problems. Finally, Taleb discussed the future of finance, predicting higher and more stable interest rates that are more in line with historical norms, and emphasizing the importance of caution in the face of unpredictable market events.
