John Rolle on The Bahamas' Fixed Exchange Rate & the First Nationwide Central Bank Digital Currency

John Rolle is governor of the Central Bank of The Bahamas and is the second sitting central bank governor to appear on Macro Musings. In his first appearance on the show, John joins the program to discuss what it's like to manage a central bank in a small open economy with a fixed exchange rate, the economic vulnerabilities of a tourism-dependent economy, the SandDollar, the future of digital payments and financial resilience, and much more. Recorded September 8th, 2026 Transcript and links: https://www.mercatus.org/macro-musing... Stay connected: Subscribe to David's Substack: https://macroeconomicpolicynexus.subs... Follow David on X: https://x.com/DavidBeckworth Follow the show on X: https://x.com/Macro_Musings Timestamps: 00:00:00 - Central Bank of the Bahamas 00:18:27 - The Economy of the Bahamas 00:25:45 - Financial Stability in the Bahamas 00:41:23 - Dollar-Based Stablecoins in the Bahamas 00:44:59 - Tokenized Deposits in the Bahamas 00:46:34 - Future of the Financial System and Economy in the Bahamas 00:52:26 - Small Open Economy Central Banks 00:55:09 - Outro Episode Credits Host: David Beckworth Lead Producer: Melody Hansen Video Editor: Melody Hansen Audio Editor: Alex Bennett Transcript Editor: Mary Horan Head of Production: Dallas Floer