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BONUS: Richard Clarida on His Musical Interests and *Time No Changes*

Macro Musings with David Beckworth

Release Date: 05/01/2024

Mickey Levy on How to Reboot Fed Policy Ahead of its Upcoming Framework Review show art Mickey Levy on How to Reboot Fed Policy Ahead of its Upcoming Framework Review

Macro Musings with David Beckworth

Mickey Levy is Chief Economist for the Americas and Asia for Berenberg Capital Markets, a Wall Street veteran, and a longstanding member of the Shadow Open Market Committee. He and his co-author, Charles Plosser, also have a new paper out titled, *The Fed’s Strategic Approach to Monetary Policy Needs a Reboot.* Mickey joins David on Macro Musings to discuss this paper and its implications for the upcoming Federal Reserve framework review. David and Mickey also discuss the impact and importance of a flat Phillips curve, the Fed’s policy mistakes in the wake of its new flexible average...

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Lars Christensen on AI and its Impact on Monetary Policy and the Broader Field of Economics show art Lars Christensen on AI and its Impact on Monetary Policy and the Broader Field of Economics

Macro Musings with David Beckworth

Lars Christensen is a founding member of the market monetarist tradition, an entrepreneur in the AI space, and is also a returning guest to Macro Musings. Lars rejoins the podcast to talk about AI and its implications for the economy and for monetary policy. David and Lars also discuss the basics and implications of dynamic pricing, AI’s growing use within econometric analysis, how AI will impact the Fed and its policymaking, and much more.   Transcript for this week’s   Lars’s Twitter: Lars’s   David Beckworth’s Twitter:  Follow us on Twitter:   ...

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Ryan Bourne on *The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy* show art Ryan Bourne on *The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy*

Macro Musings with David Beckworth

Ryan Bourne is the R. Evan Scharf Chair for Public Understanding of Economic at the Cato Institute, and he is also the editor and contributor to a new book titled, *The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy.* Ryan joins Macro Musings to talk about this new book, and specifically, the history and functionality of rent and price controls, the basics of dynamic pricing, the root causes of inflation, and a lot more.   Transcript for this week’s   Ryan’s Twitter: Ryan’s Cato   David Beckworth’s Twitter:  Follow...

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George Selgin on Fed Master Accounts, Central Bank Independence, and the Fed’s Balance Sheet show art George Selgin on Fed Master Accounts, Central Bank Independence, and the Fed’s Balance Sheet

Macro Musings with David Beckworth

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest of the podcast, and he rejoins Macro Musings to talk about some of the recent developments in the monetary and fiscal policy space. Specifically, David and George discuss recent updates regarding Fed master accounts, the problematic aspects of the Fed’s balance sheet, why a second Trump term would threaten central bank independence, and much more.   Transcript for this week’s   George’s Twitter: George’s Cato ...

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Roberto Perli on the Past, Present, and Future of the Fed’s Balance Sheet show art Roberto Perli on the Past, Present, and Future of the Fed’s Balance Sheet

Macro Musings with David Beckworth

Roberto Perli is the manager of the System Open Market Account (SOMA) and a senior leader in the New York Fed’s Markets Group. In his role, Roberto is responsible for implementing monetary policy at the direction of the Federal Open Market Committee (FOMC). Roberto is also a returning guest to the podcast, and he rejoins Macro Musings to talk about a recent speech he made titled, *Balance Sheet Reduction: Progress to Date and a Look Ahead.* Specifically, David and Roberto discuss the Fed’s recent balance sheet activities, the basics and functionality of the overnight reverse repo facility,...

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Mary Daly on Fed Policy, the Economic Impacts of AI, and the Future of the Fed’s Framework show art Mary Daly on Fed Policy, the Economic Impacts of AI, and the Future of the Fed’s Framework

Macro Musings with David Beckworth

Mary Daly is the president and CEO of the Federal Reserve Bank of San Francisco, a voting member of the Federal Open Market Committee (FOMC), and is also a 28-year veteran of the Federal Reserve System. President Daly joins David for this special live episode of Macro Musings to talk about her non-linear career path to the world of monetary policy, the long-term economic impacts of AI, the future outlook for Fed policy and the Fed’s framework, and much more.   Transcript for this week’s   Mary’s Twitter: Mary’s San Francisco Fed   David Beckworth’s Twitter: ...

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Dan Katz and Stephen Miran on Reforming the Federal Reserve’s Governance show art Dan Katz and Stephen Miran on Reforming the Federal Reserve’s Governance

Macro Musings with David Beckworth

Dan Katz and Stephen Miran are former senior advisors for the US Treasury Department and are currently adjunct fellows at the Manhattan Institute. Dan and Stephen have also written a new paper titled, *Reform the Federal Reserve’s Governance to Deliver Better Monetary Outcomes,* and they join Macro Musings to talk about this paper and the proposed reforms for the Federal Reserve outlined in it. Specifically, Dan, Steve, and David discuss the ever-expanding reach of the Fed, its role as debt manager and bank regulator, the current issue with the central bank’s personnel, and a lot more....

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BONUS: Richard Clarida on His Musical Interests and *Time No Changes* show art BONUS: Richard Clarida on His Musical Interests and *Time No Changes*

Macro Musings with David Beckworth

Richard Clarida is a professor of economics at Columbia University, a managing director at PIMCO, and was most recently the Vice Chair of the Federal Reserve Board of Governors. Richard rejoins David for this special bonus segment to talk about his interest in music and his first studio album, *Time No Changes.*   Richard’s Federal Reserve  Richard’s PIMCO    David Beckworth’s Twitter:  Follow us on Twitter:    Check out our new AI chatbot: the ! Join the new Macro Musings !   Join the Macro Musings ! Check out our Macro Musings ...

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Richard Clarida on FAIT, R-Star, and the Future of the Fed’s Framework show art Richard Clarida on FAIT, R-Star, and the Future of the Fed’s Framework

Macro Musings with David Beckworth

Richard Clarida is a well-known academic and policymaker who most recently was the Vice Chair of the Federal Reserve Board of Governors. Richard is currently a professor of economics at Columbia university and is also a managing director at PIMCO. Richard joins David on Macro Musings to talk about his academic and policy work, as well as his outlook for FAIT, the Fed’s framework review, the future of R-Star, and more.   Transcript for this week’s   Richard’s Federal Reserve Richard’s PIMCO   David Beckworth’s Twitter:  Follow us on Twitter:    Check...

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Saleha Mohsin on *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order* show art Saleha Mohsin on *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order*

Macro Musings with David Beckworth

Saleha Mohsin is a senior Washington correspondent for Bloomberg News, where she covers policy, politics, and power in Washington, DC. Saleha is also the author of a new book titled, *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order,* and she joins David on Macro Musings to talk about it. Specifically, David and Saleha also discuss the intelligence and enforcement tools of the US Treasury, the basics and importance of SWIFT, the effectiveness of US sanctions, and a lot more.   Transcript for this week’s   Saleha’s Twitter: Saleha’s Bloomberg ...

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Richard Clarida is a professor of economics at Columbia University, a managing director at PIMCO, and was most recently the Vice Chair of the Federal Reserve Board of Governors. Richard rejoins David for this special bonus segment to talk about his interest in music and his first studio album, *Time No Changes.*

 

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Richard’s PIMCO archive

 

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*Time No Changes* by Richard Clarida

 

*Richard Clarida on FAIT, R-Star, and the Future of the Fed’s Framework* by Macro Musings