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Scott Sumner on How Central Banks Should Respond to the Coronavirus Threat

Release Date: 03/02/2020

Megan Greene on the Future of CBDC and How Central Banks Should Respond to Climate Change

Macro Musings with David Beckworth

Megan Greene is a senior fellow at the Harvard Kennedy School of Government and was formerly the global chief economist at Manulife John Hancock Asset Management. Megan is also a returning guest to the podcast and rejoins David to talk about the prospects of central bank digital currency as well as how to conduct climate change policy from a central banking angle. Transcript for the episode can be found here: Megan’s Twitter: @economistmeg Megan’s website: Megan’s Financial Times archive: Related Links: *Central Banks Need to Go Slow on Digital Currencies*...

Joseph Wang on the Fed’s Impact on Money Markets

Macro Musings with David Beckworth

Joseph Wang is a former senior trader on the open market desk at the Federal Reserve Bank in New York and the author of the book Central Banking 101. He also blogs at fedguy.com and is active on Twitter. Joseph joins Macro Musings to discuss what has happened at the Fed from the operational side, and we consider its implications for money markets. Specifically, Joseph and David discuss recent events from the perspective of the Federal Reserve trading desk, Joseph’s conception of a two-tiered monetary system, continued dollar dominance in global money markets, whether the Fed’s overnight...

Philippa Sigl-Glöckner on the Debt Brake, German Fiscal Policy, and Full Capacity Utilization

Macro Musings with David Beckworth

Philippa Sigl-Glöckner is the director of the German think tank Dezernat Zukunft, or the Institute for Macrofinance, and was formerly a part of the German Federal Ministry of Finance. Philippa joins Macro Musings to talk about fiscal policy in Germany, as well as her new paper, *A New Fiscal Policy for Germany*. Specifically, David and Philippa discuss the historical context for German fiscal policy, the three big economic challenges for Germany, and how the country can achieve full capacity utilization in the future. Transcript for the episode can be found here: Philippa’s...

Jennifer Murtazashvili on Recent Developments in Afghanistan and Lessons for State Capacity Building

Macro Musings with David Beckworth

Jennifer Murtazashvili is an associate professor of political science at the University of Pittsburgh and directs the Center for Governance and Markets. Jennifer is also an expert on all things Afghanistan, given her experience working there and advising governments and international organizations on issues related to Afghanistan. She also has a new book titled, *Land, the State, and War: Property Institutions and Political Order in Afghanistan*, and joins the show to talk about it. Jennifer and David also discuss the recent developments as well as long-term developments in the country and...

Bill Nelson on the Growth of the Federal Reserve

Macro Musings with David Beckworth

Bill Nelson is a chief economist and an executive vice president at the Bank Policy Institute. Bill previously was a deputy director of the Division of Monetary Affairs at the Federal Reserve Board where his responsibilities included monetary policy analysis, discount window policy analysis, and financial institution supervision. Bill also worked closely with the BIS working groups and the design of liquidity regulations. Bill rejoins David on Macro Musings to discuss his article titled, “I Don't Know Why She Swallowed a Fly,” which looks back at the significant growth of the Federal...

Arthur Turrell on Economic Data, Modeling, and the Future of Nuclear Energy

Macro Musings with David Beckworth

Arthur Turrell is the deputy director at the data science campus for the UK Office of National Statistics (ONS). Arthur is also a former researcher at the Bank of England and a nuclear fusion scientist. He joins Macro Musings to talk about his work at the Bank of England, the future of economic data, and his new book on nuclear fusion titled, *The Star Builders: Nuclear Fusion and the Race to Power the Planet*. Transcript for the episode can be found here: Arthur’s Twitter: @arthurturrell Arthur’s website: Arthur’s Bank of England profile: Related Links: ...

Kate Judge and Anil Kashyap on How to Improve US Financial Stability

Macro Musings with David Beckworth

Kathryn Judge is a professor of law at Columbia Law School and editor of the journal of Financial Regulation. Anil Kashyap is a professor of economics and finance at the University of Chicago and is a member of the Bank of England's financial policy committee. Kate and Anil join David on Macro Musings to discuss their work on the Task Force on Financial Stability that recently released a report on how to improve financial stability in the US. Specifically, they discuss the origins of the Task Force on Financial Stability, the dynamics of the Treasury Market over the past year, why money market...

Larry White on Stablecoins, Money Market Funds, and the History of Free Banking

Macro Musings with David Beckworth

Larry White is a professor of economics at George Mason University and is a returning guest to the show. He rejoins Macro Musings to talk about stablecoins, the history of free banking, and money market funds reform. Specifically, David and Larry also discuss the critiques levied against stablecoins, their impact on the banking system, and why stablecoins could be considered the new version of money market mutual funds. Transcript for the episode can be found here: Larry’s Twitter: @lawrencewhite1 Larry’s GMU profile: Larry’s Alt-M profile: Related Links: ...

Jerusalem Demsas on Problems in the US Housing Market and How to Fix Them

Macro Musings with David Beckworth

Jerusalem Demsas is a policy reporter for Vox and joins David on Macro Musings to discuss the state of housing in America and its implications for policy. Specifically, Jerusalem and David discuss the current state of the housing market, whether there is a housing bubble, how the housing shortage creates avenues for discrimination, the dynamics of racism in the US housing market, the impact of zoning laws, and much more. Transcript for the episode can be found here: Jerusalem’s Twitter: @JerusalemDemsas Jerusalem’s Vox archive: Related Links: *Housing...

Scott Sumner on What Milton Friedman Would Think of Monetary Policy Today

Macro Musings with David Beckworth

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center. Scott joins David on Macro Musings to discuss Milton Friedman's views and what he might say about some of the recent developments in monetary policy. Specifically, Scott and David talk about nominal interest rates as indicators of the stance of monetary policy, fiscal austerity as means of reducing excessive aggregate demand, Friedman’s critique of the Phillips curve and wage and price controls, what Friedman might have said about the recent inflation numbers, and much more. Transcript for the...

More Episodes

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University, and a returning guest to Macro Musings. Scott joins the show today to talk about the recent market turmoil caused by the COVID-19 coronavirus and its implications for monetary policy. David and Scott also discuss how the Fed should respond to a possible pandemic, why monetary policy is preferable to fiscal policy during a crisis, and how to approach the central bank credibility problem.

Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings

Scott’s blog: https://www.themoneyillusion.com/

Scott’s Mercatus profile: https://www.mercatus.org/scholars/scott-sumner

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