99 – Edward Nelson on Money, its Role within Monetary Policy, and the Monetarist Legacy

99 – Edward Nelson on Money, its Role within Monetary Policy, and the Monetarist Legacy

Ed Nelson is a senior advisor at the Federal Reserve Board of Governors and formerly worked at the St. Louis Federal Reserve Bank and the Bank of England. Today, he joins the show to discuss his research on the role of money in business cycles. David and Ed also discuss nominal income targeting, Milton's Friedman's influence on monetary economics, and Australia's successful monetary policy performance. [To sign-up for Mercatus' NGDP prediction market, go to get.mercatus.org/ngdppredictions/. Just answer a few simple questions, and you'll receive an email invitation to start forecasting!] David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth Ed's Federal Reserve profile: https://www.federalreserve.gov/econres/edward-nelson.htm Related Links: *Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium* by Javier Andrés, J. David López-Salido, and Edward Nelson https://pdfs.semanticscholar.org/46d3/a4a1f1b5a6b08158f06edd6c7122fbc23c7f.pdf *Nominal GDP Targeting and the Taylor Rule on an Even Playing Field* by David Beckworth and Josh Hendrickson https://www.mercatus.org/publications/nominal-GDP-targeting-taylor-rule

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Jeffrey Lacker on the History of Fed Credit Policy and the Four Doctrines of Fed Lending

Jeffrey Lacker on the History of Fed Credit Policy and the Four Doctrines of Fed Lending

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...

9 Joulu 202456min

Zachary Mazlish on the Political Implications of Inflation and the Impact of Transformative AI

Zachary Mazlish on the Political Implications of Inflation and the Impact of Transformative AI

Zachary Mazlish is an economist at the University of Oxford, and he joins David on Macro Musings to explain some recent and important macroeconomic developments, specifically the inflation linkages to...

2 Joulu 202450min

Ellen Correia Golay on the Keys to Improving Treasury Market Resiliency

Ellen Correia Golay on the Keys to Improving Treasury Market Resiliency

Ellen Correia Golay is an advisor in the Markets Group at the Federal Reserve Bank of New York, focusing on the US Treasury market. She also helped lead an interagency working group report and a recen...

25 Marras 202447min

Emil Verner on Banking Crises, Credit Booms, and the Rise of Populism

Emil Verner on Banking Crises, Credit Booms, and the Rise of Populism

Emil Verner is an associate professor of finance at MIT Sloan and is a research fellow at the National Bureau of Economic Research. Emil has written widely on financial stability, banking panics, and ...

18 Marras 202455min

Loretta Mester on How to Improve the Fed's Operating Framework

Loretta Mester on How to Improve the Fed's Operating Framework

Loretta Mester was president and CEO of the Federal Reserve Bank of Cleveland from 2014 through June of 2024, and she is a 39-year veteran of the Federal Reserve System. Loretta is also currently an a...

11 Marras 202456min

Jon Hartley on the Shadow Open Market Committee and Macroeconomic Policy

Jon Hartley on the Shadow Open Market Committee and Macroeconomic Policy

Jon Hartley is a macroeconomist and affiliated scholar at the Mercatus Center, and he is also the host of a Hoover Institution podcast titled, *Capitalism and Freedom in the 21st Century.* Jon joins D...

4 Marras 20241h

Tara Sinclair on Real-time Economic Analysis and the Fed's Upcoming Framework Review

Tara Sinclair on Real-time Economic Analysis and the Fed's Upcoming Framework Review

Tara 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 ...

28 Loka 202456min

Joseph Gagnon on the Trinity of COVID-era Inflation and the Upcoming Fed Framework Review

Joseph Gagnon on the Trinity of COVID-era Inflation and the Upcoming Fed Framework Review

Joseph Gagnon is a senior fellow at the Peterson Institute for International Economics, a former senior Fed staffer, and a returning guest to the podcast. Joe rejoins David on Macro Musings to talk ab...

21 Loka 202458min

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