Ernie Tedeschi on Full Employment, the US Safe Harbor Premium, and the Current Path of R-Star

Ernie Tedeschi on Full Employment, the US Safe Harbor Premium, and the Current Path of R-Star

Ernie Tedeschi is the Director of Economics at the Budget Lab and is a visiting fellow at the Psaros Center for Financial Markets and Policy. Recently, Ernie was a chief economist at the White House's Council of Economic Advisors, and he is also a returning guest to the podcast. Ernie rejoins Macro Musings to talk about the CEA and some of his recent work on the political risks to the US safe harbor premium and R-star. David and Ernie also discuss the benefits and healing properties of a high employment economy, Ernie's favorite measures of the labor market, the current and past trends in the path of R-Star, and more.

Transcript for this week's episode.

Ernie's Twitter: @ernietedeschi

Ernie's Budget Lab 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:

*Political Risks to the U.S. Safe Harbor Premium* by Ernie Tedeschi

*Recent Movements in [R-star]: The Most Important Interest Rate That You have Never Heard Of* by Ernie Tedeschi

*The 2024 Economic Report of the President* by the White House Council of Economic Advisers

*The Fed Governor Who Proved Larry Summers Wrong* by Nick Timiraos

*Summers, Blanchard Say Waller's 'Soft-Landing' Paper Has Errors* by Craig Torres

Timestamps:

(00:00:00) – Intro

(00:01:49) – Ernie's Experience at the CEA

(00:09:15) – The Benefits and Healing Properties of a High Employment Economy

(00:15:28) – Ernie's Favorite Measures of the Labor Market

(00:20:17) – The Broader Debate Surrounding Labor Market Measures

(00:24:07) – The Basics of a US Safe Harbor Premium

(00:28:56) – Political Risk vs. Exorbitant Privilege

(00:33:46) – Debt Ceiling Crises as a Political Risk Scenario

(00:37:01) – Fiscal Dominance as a Political Risk Scenario

(00:43:25) – Outlining the Distinction Between Different R-Stars

(00:48:39) – Past and Current Trends in the Path of R-Stars

(00:54:46) – Assessing the Sources of High Productivity

(00:58:22) – Outro

Episoder(546)

Jerry Dwyer on the History of Free Banking and the Future of Bitcoin

Jerry Dwyer on the History of Free Banking and the Future of Bitcoin

Jerry Dwyer is a professor emeritus of economics at Clemson, a vice president at the Federal Reserve Bank of Atlanta and is currently a senior fellow at the Bitcoin Policy Institute. In Jerry's first ...

8 Sep 202556min

Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto

Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto

Hester Peirce is a current commissioner at the Securities and Exchange Commission and serves on its crypto task force. Hester returns to the show to discuss her time and role at the SEC, the SEC evolv...

1 Sep 202547min

Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics

Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics

Robin Brooks is a senior fellow at the Brookings Institution. Robin returns to the show to discuss his previous appearance in March of 2020, life at a think tank, the changing or not-so-much status of...

25 Aug 202556min

Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises

Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises

Aditi Sahasrabuddhe is a political scientist at Brown University and the author of the new book, Banker's Trust: How Social Relations Avert Global Financial Collapse. In Aditi's first appearance on th...

18 Aug 202559min

Will Luther and Josh Hendrickson on the Future of Bitcoin

Will Luther and Josh Hendrickson on the Future of Bitcoin

Will Luther is an associate professor of economics at Florida Atlantic University and a fellow at the Bitcoin Policy Institute. Josh Hendrickson is a professor of economics and the chair of the econom...

11 Aug 202551min

Rashad Ahmed on the Global Impact of US Stablecoin Regulation and Crypto Adoption

Rashad Ahmed on the Global Impact of US Stablecoin Regulation and Crypto Adoption

Rashad Ahmed is a former Treasury and Office of the Comptroller of the Currency financial economist and is currently an economist at the upstart Andresen Institute for Finance and Economics. In Rashad...

4 Aug 202557min

Paul Kupiec on Problems with the Fed's Balance Sheet and Calls to End Interest on Reserves

Paul Kupiec on Problems with the Fed's Balance Sheet and Calls to End Interest on Reserves

Paul Kupiec is a senior fellow at the American Enterprise Institute. In Paul's first appearance on the show, he discusses life at a think tank, the insolvency of the Fed, theories on how to fix the Fe...

28 Jul 202550min

George Hall on the Fiscal Consequences of the US War on COVID

George Hall on the Fiscal Consequences of the US War on COVID

Check out David's Substack: Macroeconomic Policy Nexus for a special 500th episode post! George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chic...

21 Jul 202552min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
e24-podden
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
pengepodden-2
pengesnakk
livet-pa-veien-med-jan-erik-larssen
utbytte
morgenkaffen-med-finansavisen
liberal-halvtime
tid-er-penger-en-podcast-med-peter-warren
finansredaksjonen
stormkast-med-valebrokk-stordalen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
okonomiamatorene
rss-politisk-preik