Macro Musings with David Beckworth

Eric Lonergan is macro hedge fund manager, and economist, and a writer. He has written for Foreign Affairs, the Financial Times, and has authored the book *Money (The Art of Living)*. More recently, Eric has also co-authored a new book called *Angrynomics*. He joins the show today to talk about how to improve policymakers' responses to recessions. David and Eric also discuss helicopter drops, dual...

Yair Listokin is a professor of law at Yale Law School and is the author of a new book titled, *Law and Macroeconomics*. He joins the show today to talk about the book as well as some of his new work. David and Yair also discuss sovereign wealth funds, the legal limits of central banks, and how to expand fiscal policy while making it more effective.   Transcript for the episode: https://www.mercat...

Bryan Cutsinger is an economist affiliated with Angelo State as well as Texas Tech University and recently published an article titled *Seigniorage in the Civil War South*. He joins the show today to talk about this article, the monetary history of the Civil War, and the economics of Seigniorage. David and Bryan also discuss how both the North and the South financed the war and why the South made...

Paul Tucker is a 33-year veteran of the Bank of England where he served as both a member and deputy governor of the Monetary Policy Committee.  Currently, Paul is a senior fellow at Harvard and a chair at the Systemic Risk Council. He has also recently authored a book, *Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State* and joins the show today to discuss talk a...

James Broughel is a senior research fellow at the Mercatus Center and an adjunct professor of law at George Mason University Law School. James specializes in state and federal regulatory procedures, cost-benefit analysis, and economic growth. He joins the show today to talk about a recent symposium he hosted on the social discount rate; what it is, its uses, and the controversy surrounding how to...

Ryan Avent is an economics columnist with The Economist magazine and is a previous guest of Macro Musings. He joins the show today to talk about some of his recent columns including work on hyperinflation, the Green New Deal, and Fed policy. David and Ryan also discuss the growing popularity of Modern Monetary Theory, the Fed's dovish change in direction, and why hyperinflation is so devastating t...

Michael Strain is the director of economic policy studies at the American Enterprise Institute. Previously, Michael worked in the Center for Economic Studies at the U.S. Census Bureau and in the Macroeconomics Research Group at the Federal Reserve Bank of New York. He joins the show today to talk about recent developments in U.S. economic policy and some of his work on that topic. David and Michae...

George Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives, professor emeritus of economics at the University of Georgia, and a returning guest to show.  For this special live episode, George joins Macro Musings to talk about his new book, *Floored: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession.* David and George also discuss th...

Peter Stella is the managing director of Stellar Consulting and was formerly an IMF official where he led the central banking and monetary and foreign exchange divisions. Peter has researched and written extensively on safe assets, collateral, and central banking operations, and he joins the show today to discuss this work.  David and Peter also discuss the Fed's large scale asset purchases, money...

Rohan Grey is a legal scholar and the research director of the Digital Fiat Currency Institute. He joins the show today to make the case for digital legal tender. David and Rohan also discuss privacy issues related to digital currency, getting the public onboard with a digital currency proposal, modern monetary theory, and how it is different than mainstream economics.   Transcript for the episode...

Donald Kohn is a senior fellow at the Brookings Institution and currently serves as an external member of the Financial Policy Committee at the Bank of England. Donald is also a 40-year veteran of the Federal Reserve System, serving previously as a governor and then as vice-chair of the Board of Governors from 2002 to 2010. He joins the show today to talk about his journey through the Federal Rese...

Kevin Erdmann is an independent researcher and blogger at Idiosyncratic Whisk, where he explores economic and financial topics such as housing, investment, and speculation. He is also the author of an upcoming book titled, *Shut Out: How a Housing Shortage Caused the Great Recession and Crippled Our Economy*, and he joins the show today to discuss it. David and Kevin also break down the housing sh...

Christine McDaniel is a senior research fellow at the Mercatus Center and was previously the deputy assistant secretary at the U.S. Treasury Department and senior trade economist in the White House. Christine is a returning guest to Macro Musings and joins the show today to talk about recent trade developments. David and Christine also discuss the details of the United States–Mexico–Canada Agreeme...

Craig Torres is a reporter for Bloomberg News where has earned several rewards for his reporting on Fed policy. Previously, Craig also served as the chief of the Wall Street Journal's Mexico City bureau, where his work on the collapse of the peso in the mid 90's made him a finalist for the Pulitzer Prize in international reporting. He joins the show today to discuss some the stories he has written...

Julia Coronado is the president and founder of Macro Policy Perspectives, a Wall Street research firm. Previously, she was a chief economist for Graham Capital Management and a senior economist at BNP Paribas. Julia also served on the Federal Reserve Board of Governors for over a decade, and she joins the show today to talk about the Fed's latest rate hikes and other recent economic developments....

Brian Goff is the distinguished professor of economics at the Gordon Ford College of Business at Western Kentucky University. He is the author of the Econosports blog at Forbes and most recently the author of a new book titled, *Sports Economics Uncut*. Brian joins the show today to talk about the economics behind professional and collegiate sports across the United States. David and Brian also di...

Felix Salmon is a financial journalist at Axios and the host of the Slate Money podcast. In this special holiday episode, Felix joins the show to discuss the economics of charitable giving and one of his other favorite topics, sovereign debt. David and Felix also discuss debt contract innovations, effective altruism, and ways to improve charitable giving across the U.S. and the globe.   Felix's Tw...

Matt Mitchell is the director and senior research fellow at the Equity Initiative at the Mercatus Center. He joins the show today to talk about rent seeking and how it affects long term economic growth and prosperity. David and Matt also discuss regulatory capture, the rise of patent trolls, and the economics of public choice theory.   Transcript for the episode:  https://www.mercatus.org/bridge/p...

 Josh Galper is the managing principal of Finadium, an independent consultancy in capital markets with unique expertise in securities, finance, collateral, and derivatives. He joins the show today to talk about money markets, overnight interest rates, and some of the big issues in this area. David and Josh also discuss the Lehman Brothers collapse, the "Narrow Bank," and what we should know about...

Victoria Guida is a reporter for Politico where she covers monetary policy and financial regulation, including extensive coverage of the Federal Reserve, the FDIC, the Treasury Department, and Congress. She joins the show today to talk about some of the big developments in monetary policy and financial regulation over the past few years and what kind of policy changes may be on the horizon. David...

Neil Irwin is a senior economics correspondent for the New York Times and was formerly a columnist at the Washington Post. He is the author of the book, *The Alchemist: Three Central Bankers and a World on Fire*, and he joins the show today to talk about his work as an economics correspondent. David and Neil also discuss the invisible recession of 2016, how monopsony power affects labor market wag...

Adam Ozimek is a senior economist at Moody's Analytics where he covers U.S. labor markets and demographics while actively blogging and tweeting about a wide range economic issues. He joins the show today to discuss mistakes in Fed policy and demographics. David and Adam also discuss the role demand played in the Great Recession, the link between population growth and inflation, and why the economy...

This week, Scott Sumner joins David Beckworth at the University of Texas at Austin for the Financial Crisis Symposium: "Ten Years Later: What Does the Data Say?" hosted by the Center for Enterprise and Policy Analytics at the McCombs School of Business. In this special live episode, Scott offers his thoughts on what the data tells us about the 2008 Financial Crisis from a monetary policy perspecti...

Mike Derby is a reporter for the Wall Street Journal who covers the Federal Reserve. He joins the show today to talk about his coverage of recent developments in the economy and in Fed policy. David and Mike also discuss the future of the Fed's operating framework, what an inversion of the Treasury yield curve portends, and the normalization of monetary policy after the 2008 Financial Crisis. Mike...

Don Boudreaux is a professor of economics at George Mason University as well as the co-director of the Program on the American Economy and Globalization at the Mercatus Center. He joins the show today to talk about the future of trade and globalization. David and Don also discuss the history of protectionism in the US, President Trump's trade policies, and why the China Shock thesis may signal bad...