Kenneth Rogoff on Monetary Moves, Fiscal Gambits, and Classical Chess

In this episode of Conversations with Tyler, Tyler Cowen interviews economist Kenneth Rogoff about international trade balances, China's economic imbalances, tariff debates, and the difficulties in developing a satisfactory theory of exchange rates. They discuss the IMF's approach to countries like Pakistan, the potential for dollarization in Latin America, and Japan's economic challenges. Rogoff shares his views on the unsustainability of the US fiscal path, potential future inflation, and the role of AI. The conversation also touches on political business cycles, phasing out currency, regulating cryptocurrency, and the possibility of a US CBDC. Finally, they delve into macro puzzles like disinflation, covered interest parity, productivity growth in the UK, Argentina's economic situation, and chess, including a discussion of Fisher Random chess and Rogoff's past game with Magnus Carlsen.