Macro Musings with David Beckworth

著者: Mercatus Center at George Mason University
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  • Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.
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Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.
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  • George Selgin on Strategic Bitcoin Reserves, Debanking, and the Fed’s Framework Review
    2024/12/23
    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 episode. George’s Twitter: @GeorgeSelgin George’s Cato profile David Beckworth’s Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *The ‘Digital Gold’ Fallacy, or Why Bitcoin Can’t Save the US Dollar* by George Selgin *The Fed’s 2024-25 Framework Review: Optimizing the Dual Mandate Through Nominal GDP Level Targeting* by David Beckworth *Building a Better Fed Framework* – A monetary policy conference hosted by the American Institute for Economic Research (AIER) Caitlin Long’s X thread on debanking David Marcus’s X thread on how Libra was killed *Does Sovereign Default Risk Explain Cryptocurrency Adoption? International Evidence from Mobile Apps* by Rashad Ahmed, Stephen Karolyi, and Leili Pour Rostami *Digital Gold: Evaluating a Strategic Bitcoin Reserve for the United States* by the Bitcoin Policy Institute *Trump Likes the Idea of a Federal Bitcoin Reserve. Don’t Laugh.* by Tyler Cowen Timestamps: (00:00:00) – Intro (00:01:34) – Evaluating the Strategic Bitcoin Reserve and Digital Gold (00:26:22) – George’s Outlook for the Strategic Bitcoin Reserve (00:34:16) – The Significance of the Debanking Problem and the Case of Libra (00:43:18) – *Building a Better Fed Framework*: George’s Takeaways (00:49:16) – The Path to Nominal GDP Targeting: Incremental vs. Radical (00:54:10) – Characterizing a Fed Framework Consensus (01:00:13) – Outro
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    1 時間 1 分
  • Joey Politano on the AI Investment Boom and Trends in Economic Growth
    2024/12/16

    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 episode.

    Joey’s X: @JosephPolitano

    Joey’s Bluesky: @josephpolitano.bsky.social

    Joey’s Substack

    David Beckworth’s Twitter: @DavidBeckworth

    Follow us on Twitter: @Macro_Musings

    Check out our new AI chatbot: the Macro Musebot!

    Join the new Macro Musings Discord server!

    Join the Macro Musings mailing list!

    Check out our Macro Musings merch!

    Related Links:

    *The AI Investment Boom* by Joey Politano

    Timestamps:

    (00:00:00) – Intro

    (00:03:09) – The Competition Between X and Bluesky

    (00:10:55) – The Generational Differences in Economic Perspectives

    (00:16:23) – Breaking Down the AI Investment Boom

    (00:23:55) – Have We Left Behind the World of Secular Stagnation?

    (00:27:47) – Did ChatGPT Kickstart the Next Chapter of Growth?

    (00:34:35) – AI and Increased Demand for Nuclear Energy

    (00:39:45) – The Importance of AI in Driving Scientific Research and Growth

    (00:44:34) – The Current State of Economic Growth

    (00:53:40) – Outro

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    54 分
  • Jeffrey Lacker on the History of Fed Credit Policy and the Four Doctrines of Fed Lending
    2024/12/09

    Jeffrey Lacker is a senior affiliated scholar at the Mercatus Center, and he previously worked at the Federal Reserve Bank of Richmond, where he served as its president from 2004 to 2017. Jeff is also a returning guest to the podcast, and he rejoins David on Macro Musings to talk about the history of the Federal Reserve’s credit policy, as well as a recent Shadow Open Market Committee conference.

    Transcript for this week’s episode.

    Jeffrey’s website

    Jeffrey’s Mercatus profile

    David Beckworth’s Twitter: @DavidBeckworth

    Follow us on Twitter: @Macro_Musings

    Check out our new AI chatbot: the Macro Musebot!

    Join the new Macro Musings Discord server!

    Join the Macro Musings mailing list!

    Check out our Macro Musings merch!

    Related Links:

    *A 50-Year Retrospective on the Shadow Open Market Committee and its Role in Monetary Policy* — A conference hosted by the Hoover Institution

    *From the “Lender of Last Resort” to “Too Big to Fail” to “Financial System Savior”: Federal Reserve Credit Policy and the Shadow Open Market Committee* by Jeffrey Lacker

    *Last Resort Lending: Classical Thought vs. Modern Federal Reserve Practice* by Jeffrey Lacker

    Timestamps:

    (00:00:00) – Intro

    (00:01:47) – The Shadow Open Market Committee and its Contributions Throughout Time

    (00:05:32) – Highlights from the Recent Shadow Open Market Committee Conference

    (00:10:17) – From FAIT Back to FIT?

    (00:14:07) – *Federal Reserve Credit Policy and the Shadow Open Market Committee*: Motivation and Summary

    (00:16:05) – Breaking Down the Difference Between Credit Policy and Monetary Policy

    (00:22:10) – The Four Doctrines of Fed Lending: The Monetary Stability Doctrine

    (00:28:56) – The Four Doctrines of Fed Lending: The Real Bills Doctrine

    (00:34:49) – The Four Doctrines of Fed Lending: Warburg’s Mercantilism

    (00:39:11) – The Four Doctrines of Fed Lending: Too-big-to-fail and the Reluctant Samaritan

    (00:47:45) – Solutions for Improving the System Moving Forward

    (00:55:25) – Outro

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    56 分

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