Ep. 220: George Selgin on Fed Independence, Poor Operations and Inflation

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. He is the author of numerous books, including ‘The Theory of Free Banking’, ‘Floored! How a Misguided Fed Experiment Deepened and Prolonged the Great Recession’ and ‘The Menace of Fiscal QE’. George is one of the founders, with Kevin Dowd and Lawrence H. White, of the Modern Free Banking School, which draws its inspiration from the writings of F. A. Hayek on denationalization of money and choice in currency. In this podcast, we discuss:

How marine biology helps you understand economics
How the Fed fundamentally changed after the Global Financial Crisis
Understanding the Fed’s abundant reserves policy
Why Fed operations have harmed the system
Regional bank crisis
What caused post-COVID inflation?
Did the Fed do well during this period?
Inflation risks and next Fed move
Thoughts on growth
US elections
Fed independence and Trump
Fed losses
Books mentioned: Wealth of Nations (Smith), Lectures on Political Economy (Wicksell), The Theory of Money and Credit (Mises), Money and the Mechanism of Exchange (Jevons), Lombard Street (Bagehot)

You can follow George on X, at Cato and can view his books here.

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