COMMENT:
Can a pinstripe suit be combined with a hoodie? That might sound like an unlikely fashion dilemma. But it also reflects a policy question hanging over central banks.
In decades past, central bankers ruled the financial system by projecting an image that seemed unchanging, conservative and sober. Think marble pillars and sensible suits (pinstripe or otherwise).
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Last year, however, the central banking community received a shocking challenge: Facebook, the tech group with a freewheeling, hoodie-wearing culture, announced plans to launch a global digital currency project called Libra .
We have seen breakthroughs in this area before. China’s digital-payment and cryptocurrency plans are growing explosively fast. Countries such as Kenya have been using digital…
