Recent Views and a New Role at Purdue University

The end of 2023 is shaping up to be quite busy, and I would like to share with you a few of my recent engagements and thoughts on global issues.

In November, I was pleased to announce my affiliation with Purdue University as a distinguished fellow. I'll be supporting Purdue's "excellence at scale" efforts to develop the next generation of business and technology leaders. I'm looking forward to sharing my experiences and global perspectives as Distinguished Fellow of International Finance at the Mitch Daniels School of Business and as the Inaugural Fellow of Global Infrastructure and Business at Purdue@DC.

The last few weeks have been tumultuous for both global stability and markets -- clear U.S. leadership on issues of diplomacy, economics and the dollar are needed now more than ever. I spoke on these topics at the Mont Pelerin Society conference in Bretton Woods New Hampshire, at several investor conferences in Florida to discuss opportunities in credit and emerging markets, and on WABC radio on December 10. .

At a Philadelphia World Affairs Council event on December 5, I emphasized the damage from slow global growth and the heavy absorption of capital by governments in advanced economies. Following the event, I was happy to speak with The Philadelphia Inquirer -- you can read my full interview with them here.

I also joined CNBC's Squawk Box last week to discuss some of these urgent issues. Central bank policies caused huge losses on bonds and slow growth. Their bond buying led to artificially low rates and yields, causing governments to spend more and leading to trillions of dollars (and euros and yen) in losses -- and counting.

With bond yields off their highs, my recent Wall Street Journal op-eds have cited the keen opportunity for the Federal Reserve to make a fundamental shift in both monetary and regulatory policy.

I advocated laying the groundwork for rate cuts by defending the dollar, and using regulatory and balance sheet tools, not just interest rates, to build confidence on price stability and growth.

You can read my full WSJ op-ed here, as well as my recent letter to the WSJ Editorial Board on the importance of establishing clear guardrails for the Fed's new, post-monetarist system here.

Also of note to development was Argentina's landslide election of President Javier Milei. If he is able to implement currency stability and market-based growth, Argentines have a chance to exit decades of impoverishment.

It would be a strong encouragement for the world if Argentina can unshackle its economy from devaluation, inflation and stagnation. Policies based on sound money and growth would improve lives for billions of people around the world.

-David