In this episode, I talk with David Beckworth. David is the host of one of my favourite economics podcasts, Macro Musings. He is also a Senior Research Fellow at the Mercatus Center at George Mason University and a former international economist at the US Treasury. He is the author of Boom and Bust Banking: The Causes and Cures of the Great Recession. His research focuses on monetary policy, and he has advised congressional staffers on policy.
In this podcast we discuss:
1. What did the Fed do right and wrong in its COVID response
2. How the Fed is losing independence
3. The advantages of price level and average inflation rate targeting
4. Why nominal GDP/income targeting is the best approach
5. What has caused the 30y decline in US rates
6. How the Fed should be reformed
7. Books that influenced David: Secrets of the Temple and Less Than Zero
You can follow David on his Twitter account here.
Make sure to subscribe to the show on Apple, Spotify, YouTube, or wherever you go for your podcasts. You can follow us on Twitter and LinkedIn.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)