Tara Sinclair on Real-time Economic Analysis and the Fed’s Upcoming Framework Review
Macro Musings with David Beckworth
Release Date: 10/28/2024
Steven Kelly on the Challenges of Treasury Equity Funding for 13(3) Facilities
Macro Musings with David Beckworth
Steven Kelly is the associate director of research as the Yale Program on Financial Stability. Steven returns to the show to discuss his new model, the Treasury Equity Model of the Federal Reserve’s emergency lending. Check out the for this week’s episode, now with links. Recorded on January 23rd, 2025 Follow David Beckworth on X: Follow Steven Kelly: Follow the show 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 Channel Timestamps: (00:00:00) –...
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Senator Pat Toomey on Fed Governance, Monetary Policy, and the future of Digital Assets
Macro Musings with David Beckworth
Pat Toomey is a former senator from the state of Pennsylvania and served on the Committee on Banking, Housing, and Urban Affairs. In Pat’s first appearance on the show he discussed his career in public service, Fed master accounts, the future on monetary policy, his quest for Fed accountability, the looming debt issue, and much more. Check out the for this week’s episode, now with links. Recorded on January 23rd, 2025 Follow David Beckworth on X: Follow Pat Toomey: Follow the show on X: Check out our new AI chatbot: the ! Join the new Macro Musings ! Join the Macro...
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Brian Albrecht on Business Dynamism, Greedflation, and Antitrust
Macro Musings with David Beckworth
Brian Albrecht is the chief economist for the International Center for Law & Economics and is the coauthor of the economics newsletter Economic Forces. In Brian’s first appearance on the show, he discussed the data behind business dynamism, the notion of greedflation, the recent developments in antitrust, the update Econ 101 needs to make in regard to tariffs, and much more. Check out the for this week’s episode, now with links. Recorded on January 6th, 2025 Follow David Beckworth on X: Follow Brian Albrecht: Follow the show on X: Check out our new AI chatbot: the !...
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The Fed Framework Review: Macro Musings’ Greatest NGDP Targeting Hits
Macro Musings with David Beckworth
On this special greatest hits compilation episode our host David Beckworth primes listeners for the Fed Framework Review by highlighting the best snippets from past shows discussing nominal GDP targeting. This episode includes Mary Daly’s thoughts on NGDP targeting, Evan Koenig on the basics of NGDP targeting, George Selgin on Powell’s hesitations with NGDP targeting and how it responds to supply shocks, Jim Bullard on the financial stability of NGDP targeting, Eric Sims on the New Keynesian argument for NGDP targeting, Carola Binder on the benefits of NGDP targeting, Charlie Evans on the...
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Peter Conti-Brown on the Fed under Trump 2.0, Reforming the Discount Window, and Providential Moments
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. Peter returns to the podcast to discuss the state of Federal Reserve leadership under the incoming Trump administration, expectations for Fed independence, a new proposal for limiting stigma at the discount window, stories about a life lead by faith, and much more. Check out the for this week’s episode, now with links. Recorded on January 10th, 2025 Follow David Beckworth on X: Follow Peter...
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David Bahnsen on the Incoming Trump Administration and the Financialization of the US Economy
Macro Musings with David Beckworth
David Bahnsen is a Wall Street veteran and currently is the managing director of The Bahnsen Group. In David’s first appearance on the podcast, he talks through multiple questions about the incoming Trump Administration, the problem with the growing indebtedness of the US government, shifts in the Republican party, the notion of financialization of the US economy, and much more. Check out the for this week’s episode, now with links. Follow David Beckworth on X: Follow David Bahnsen on X: Follow the show on X: Check out our new AI chatbot: the ! Join the new Macro Musings !...
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Marijn Bolhuis on Fiscal R-star and its Implications for Macroeconomic Policy
Macro Musings with David Beckworth
Marijn Bolhuis is an economist in the World Economic Studies Division of the IMF’s research department. In Marijn’s first appearance on the podcast he discusses his new paper, which introduces the idea of a fiscal r-star, and expands on another paper which helps economists understand why consumer sentiment is so depressed, despite relatively low unemployment and inflation coming back to target. Check out the for this week’s episode, now with links. Follow David on X: Follow Marijn on X: Follow the show on X: Check out our new AI chatbot: the ! Join the new...
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Macro Musings 2024 Retrospective
Macro Musings with David Beckworth
David Beckworth and producer Sam Alburger dive into the last year of Macro Musings. They pick their favorite episodes, discuss how the year 2024 will be remembered in the macroeconomic history, highlight stories about the making of the show, combine David’s love for basketball and economics, and much more. Check out the for this week’s episode, now with links. Follow David on X: Follow the show 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 Channel ...
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George Selgin on Strategic Bitcoin Reserves, Debanking, and the Fed’s Framework Review
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 returning guest to the program, and he rejoins David on Macro Musings to talk about crypto, strategic Bitcoin reserves, and the Fed’s framework review. Specifically, David and George also discuss George’s outlook for a strategic Bitcoin reserve in the US, the significance of the debanking problem, the path to adopting a nominal GDP targeting framework, and much more. Transcript for this week’s George’s Twitter: George’s...
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Joey Politano on the AI Investment Boom and Trends in Economic Growth
Macro Musings with David Beckworth
Joey Politano is an economist and a commentator who writes a popular Substack newsletter on economics. Joey is also a returning guest to Macro Musings, and he rejoins David to talk about the AI investment boom and broader economic growth trends. Specifically, David and Joey also discuss generational differences in economic perspectives, the increased demand for nuclear energy, the importance of AI in driving scientific research, and much more. Transcript for this week’s Joey’s X: Joey’s Bluesky: Joey’s David Beckworth’s Twitter: Follow us on...
info_outlineTara Sinclair is a professor of economics and international affairs at George Washington University, where she also directs the George Washington Center for Economic Research. From 2022 to 2024, Tara also served as the Deputy Assistant Secretary for Macroeconomics in the Office of Economic Policy at the US Department of Treasury. Tara joins David on Macro Musings to talk about her time at Treasury, real-time economic analysis, the Fed framework review, and much more.
Transcript for this week’s episode.
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Related Links:
*Real Time Economics: Tales from the Trenches* - Remarks by Tara Sinclair at the 2024 RTE Conference
*Labor Shortages and Job Mismatch* - Remarks by Tara Sinclair at the 66th NABE Annual Meeting
*The Fed’s Strategic Approach to Monetary Policy Needs a Reboot* by Mickey Levy and Charles Plosser
*The Inflation Surge of the 2020s: The Role of Monetary Policy* by Gauti Eggertsson and Don Kohn
*Monetary Policy Strategies to Foster Price Stability and a Strong Labor Market* by Michael Kiley
*Did the Federal Reserve’s 2020 Policy Framework Limit Its Response to Inflation? Evidence and Implications for the Framework Review* by Christina Romer and David Romer
Timestamps:
(00:00:00) – Intro
(00:01:25) – Working as a Deputy Assistant Secretary at the Treasury Department
(00:06:31) – Building a Better Economic Database
(00:10:15) – Breaking Down Real-time Economics and Real-time Data
(00:16:06) – *Real Time Economics: Tales from the Trenches*
(00:21:37) – Solving Our Current Data Challenges
(00:24:36) – *Labor Shortages and Job Mismatch*
(00:32:08) – Breaking Down the Upcoming Fed Framework Review
(00:37:56) – Addressing the Concerns and Issues Surrounding the Fed’s Framework
(00:42:50) – Unpacking the Dual Mandate and the Fed’s Broad and Inclusive Goal
(00:53:45) – Could AI Define Maximum Employment in the Future?
(00:56:13) – Outro