Abstract Given a finite Blaschke product $B$ we prove asymptotically sharp estimates on the $\ell ^{\infty }$-norm of the sequence of the Fourier coefficients of $B^{n}$ as $n$ tends to $\infty $. This norm decays as $n^{-1/N}$ for some $N\ge 3$. Furthermore, for every $N\ge 3$, we produce explicitly a finite Blaschke product $B$ with decay $n^{-1/N}$. As an application we construct a sequence of $n\times n$ invertible matrices $T$ with arbitrary spectrum in the unit disk and such that the quantity $|\det{T}|\cdot \|T^{-1}\|\cdot \|T\|^{1-n}$ grows as a power of $n$. This is motivated by Schäffer’s question on norms of inverses.