Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework
Macro Musings with David Beckworth
Release Date: 11/21/2022
Macro Musings with David Beckworth
Mark Blyth is a professor of international economics at Brown University. In Mark’s first appearance on the show, he discusses his new book Inflation: A Guide for Users and Losers, the concept of angrynomics, a new way to look at price controls, demographic decline, and much more. Check out the for this week’s episode, now with links. Recorded on June 4th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow Mark on X: Follow the show on X: Check out our Macro Musings to David's new BTS YouTube Channel Timestamps 00:00:00...
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Sam Schulhofer-Wohl is a senior vice president and the senior advisor to President Lorie Logan of the Federal Reserve Bank of Dallas. Sam returns to the show to discuss recent macroeconomic conferences in the context of changes in the Treasury market and with central bank operating systems around the globe. Check out the for this week’s episode, now with links. Recorded on May 27th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Check out our Macro Musings to David's new BTS YouTube Channel Timestamps...
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Andy Levin is an advisor to many central banks around the world and professor of economics at Dartmouth College. Andy returns to the show for a special bonus episode to discuss his pervious appearance and accompanying policy brief where he calls for an independent inspector general at the Federal Reserve. Check out the for this week’s episode, now with links. Recorded on June 10th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Join the new Macro Musings ! Join the Macro Musings Check out our Macro Musings to David's...
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Sign up for ! Matthew Pines is the executive director of the Bitcoin Policy institute. Matthew returns to the show to discuss the future of Bitcoin as a strategic reserve, US stablecoin regulation, geopolitics under Trump, monetary policy at the Fed, and much more. Check out the for this week’s episode, now with links. Recorded on May 16th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow Matthew Pines on X: Follow the show on X: Check out our Macro Musings to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro...
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Peter Conti-Brown is a historian and legal scholar of the Federal Reserve System, and an associate professor at the Wharton School of Business at the University of Pennsylvania. Sean Vanatta is a senior lecturer in financial history and policy at the University of Glasgow. Peter and Sean join the show to discuss their new book titled: Private Finance, Public Power: A History of Bank Supervision in America, as well as how powerlifting can be analogized in macroeconomics, and the implications of Trump v. Wilcox. Check out the for this week’s episode, now with links. Recorded...
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George Selgin is a senior fellow and director emeritus at the Center for Monetary and Financial Alternatives at the Cato Institute, as well as the author of the new book titled False Dawn: The New Deal and the Promise of Recovery, 1933-1947. George returns to the show to discuss the complicated economic history of the Great Depression, how that history has led us to the macro-events of 2008, 2010, and 2020, how we can apply lessons from the Great Depression to macroeconomic policy to the current moment, and much more. Check out the for this week’s episode, now with links. Recorded...
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Daniel Bunn is the president and CEO of the Tax Foundation. In Daniel’s first appearance on the show, he discusses the history of tax models, the threat that tariffs make to the US economy, where we currently stand with budget reconciliation, how he would fix the tax code if he was president, and much more. Check out the for this week’s episode, now with links. Recorded on May 2nd, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Follow Daniel on X: Check out our new AI chatbot: the ! Join the new Macro Musings ! Join the Macro...
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Luca Fornaro is a senior researcher at CREI and professor at both UPF and the Barcelona School of Economics. In Luca’s first appearance on the show, he discusses his expansive work on, hysteresis, stagnation traps, endogenous growth, aggregate demand policies, the medium run, population growth and much more. Check out the for this week’s episode, now with links. Recorded on April 23th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Follow Luca on X: Check out our new AI chatbot: the ! Join the new Macro Musings ! Join the...
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Adam Ozimek is the Chief Economist at the Economic Innovation Group. Adam returns to the show to discuss the importance of reforming the high-skilled immigration process, the main bottlenecks with our current green card system, the glory days of economics blogging, how to revitalize the American heartland, Trump’s current trade war, and much more. Check out the for this week’s episode, now with links. Recorded on April 15th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Follow Adam on X: Check out our new AI chatbot: the ! Join the...
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Skanda Amarnath is the executive director of Employ America. Skanda returns to the show to discuss the standing of Humphrey’s Executor, the prospects for the Fed’s Framework Review, the case for NGDP Targeting, and much more. Check out the for this week’s episode, now with links. Recorded on April 16th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow the show on X: Follow Skanda on X: Check out our new AI chatbot: the ! Join the new Macro Musings ! Join the Macro Musings Check out our Macro Musings to David's new BTS YouTube...
info_outlineIn this special episode of Macro Musings, David Beckworth and Patrick Horan join guest host Carola Binder to discuss their newest paper, *The Fate of FAIT: Salvaging the Fed’s Framework.* Patrick Horan is a research fellow in the Mercatus Center’s Monetary Policy Program and Carola Binder is an associate professor of economics at Haverford College as well as a visiting scholar at the Mercatus Center. In addition to their paper, Pat and David also talk about the basics of flexible average inflation targeting, how it compares to temporary price level targeting, the differences between the Fed’s old and new frameworks, and a lot more.
Transcript for the episode can be found here.
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Patrick’s Twitter: @Pat_Horan92
Patrick’s Mercatus profile
Carola’s Twitter: @cconces
Carola’s Haverford site
Carola’s Mercatus profile
David’s Twitter: @DavidBeckworth
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Related Links:
*The Fate of FAIT: Salvaging the Fed’s Framework* by David Beckworth and Patrick Horan
*2020 Statement on Longer-Run Goals and Monetary Policy Strategy* by the Federal Reserve Board of Governors
*Fed Framework Holds Central Bank Hostage* by Mohamed El-Erian
*Nominal GDP Targeting and the Taylor Rule on an Even Playing Field* by David Beckworth and Josh Hendrickson