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Lev Menand and Josh Younger on *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon*

Release Date: 10/02/2023

George Hall on the Fiscal Consequences of the US War on COVID

Macro Musings with David Beckworth

Check out David's Substack: for a special 500th episode post! George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chicago Federal Reserve Bank. George returns to the show to discuss the current fiscal status of the US, how the Big Beautiful Bill will impact the fiscal outlook going forward, the history of running deficits in the US, and much more. Check out the for this week’s episode, now with links. Recorded on June 24th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow George on X:...

Ben Harris on the Fiscal Health of the US Government

Macro Musings with David Beckworth

Ben Harris served in numerous high-ranking roles as a public sector economist and is now the vice president and director of economic studies at the Brooking Institution. In Ben’s first appearance on the show, he discusses the fiscal health of the US government, including the rising primary deficient, the impact of the Big Beautiful Bill, the proposition of stablecoins and AI as a solution to our debt, his love of basketball and much more. Check out the for this week’s episode, now with links. Recorded on June 18th, 2025 Subscribe to David's Substack: Follow David...

Luis Garicano on the Future of Digital Money and Lessons Learned from the History of the Euro

Macro Musings with David Beckworth

Luis Garicano is a former member of the European Parliament and a professor at the London School of Economics. In Luis’s first appearance on the show he discusses his new book, Crisis Cycle: Challenges, Evolution, and the future of the Euro, the ever-changing landscape of digital money, his suggested reforms to the Euro, and much more. Check out the for this week’s episode, now with links. Recorded on June 18th, 2025 Subscribe to David's Substack: Follow David Beckworth on X: Follow Luis on X: Follow the show on X: Check out our Macro Musings to...

Mark Blyth on the Winners and Losers from Inflation

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...

Sam Schulhofer-Wohl on Reforms in the Treasury Market and Developments with Central Bank Operating Systems

Macro Musings with David Beckworth

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...

Andy Levin on the Importance of an Independent Inspector General at the Federal Reserve - BONUS

Macro Musings with David Beckworth

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...

Matthew Pines on the Future of Money, AI, and Monetary Policy

Macro Musings with David Beckworth

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...

Peter Conti-Brown and Sean Vanatta on the History of Bank Supervision in America

Macro Musings with David Beckworth

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...

George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

Macro Musings with David Beckworth

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...

Daniel Bunn on Fiscal Issues Currently Facing the US Government

Macro Musings with David Beckworth

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...

More Episodes

Lev Menand is an associate professor of law at Columbia University and Josh Younger is a senior policy advisor at the Federal Reserve Bank of New York and a lecturer at Columbia Law School. Lev and Josh also recently co-authored a paper titled, *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon.* They are also returning guests to Macro Musings, and rejoin the podcast to talk about this paper and its implications for the Treasury market. Lev, Josh, and David also discuss the transition from bank to market financing, whether an increasing level of debt is leading to more instability, the impact of recent regulations on the primary dealer system, how to restore the balance between public debt and money creation, and a lot more.

Transcript for this week’s episode.

Josh’s Columbia Law profile

Lev’s Columbia Law profile

Lev’s Twitter: @LevMenand

David Beckworth’s Twitter: @DavidBeckworth

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