Australia (Queensland University of Technology) US Federal Reserve Governor to deliver digital currency talk at QUT

US Federal Reserve Governor Christopher J. Waller will visit QUT in Brisbane on Thursday to deliver a free public talk on central bank digital currencies (CBDC).

The lecture, Demystifying Central Bank Digital Currency, will be held at QUT’s Gardens Point campus from 5pm.Dr Waller is visiting the university as a guest of QUT’s School of Economics and Finance and the Economic Society of Australia (Queensland).

The Reserve Bank of Australia (RBA) is currently researching CBDCs as a complement to existing forms of money in Australia.

Dr Waller took office as a member of the Board of Governors of the United States Federal Reserve System in December 2020 – a post he will hold until 2030.

He has previously expressed some scepticism regarding the creation of a US central bank digital currency and expressed doubt that the US dollar would lose its prominent role in international markets unless a US digital currency is issued.

QUT’s Head of Economics and Finance, Professor Pascalis Raimondos, said the university was looking forward to hearing Dr Waller’s expert views on digital currencies.

“It is an honour to have Governor Waller addressing the Brisbane business community on digital currencies, a topic that many people link only to cryptocurrencies, but which in reality is much more,” Professor Raimondos said.

“This event is a good example of how economic research can be applied to issues that impact the whole economy.”

Prior to his appointment to the Board, Dr Waller served as executive vice president and director of research at the Federal Reserve Bank of St Louis from 2009 to 2020.

He has also held academic positions including serving as the Gilbert F. Schaefer Chair of Economics at the University of Notre Dame, the Carol Martin Gatton Chair of Macroeconomics and Monetary Economics at the University of Kentucky and as a professor of economics at Indiana University.

Over the last decade, Dr Waller has also authored several papers on monetary theory and optimal design of monetary policies with QUT economist Professor Pedro Gomis-Porqueras.

“The ongoing debate over the risks and benefits of central bank digital currencies is important,” Professor Gomis-Porqueras said.

“It is going to be a real treat to have Dr Waller share his views on CBDCs and related topics, such as financial stability, payment system improvements, and financial inclusion. I am sure this public lecture will help clarify our thinking on this timely and relevant issue.”

Professor Gomis-Porqueras is a regular visiting scholar at several central banks around the world, including the Bank of Canada, Reserve Bank of New Zealand and the Federal Reserve Banks of Philadelphia and St Louis, as well as the Board of Governors in Washington D.C.

People interested in attending Dr Waller’s free public talk at QUT on Thursday, November 10, need to book online by 5pm on November 9.