Macro Musings with David Beckworth23 Aug 2021

Bill Nelson on the Growth of the Federal Reserve

Bill Nelson is a chief economist and an executive vice president at the Bank Policy Institute. Bill previously was a deputy director of the Division of Monetary Affairs at the Federal Reserve Board where his responsibilities included monetary policy analysis, discount window policy analysis, and financial institution supervision. Bill also worked closely with the BIS working groups and the design of liquidity regulations. Bill rejoins David on Macro Musings to discuss his article titled, "I Don't Know Why She Swallowed a Fly," which looks back at the significant growth of the Federal Reserve, both in its reach and in its size, since the Great Recession of 2007-09. Additionally, Bill and David discuss steps the Fed could take to return to a reasonably sized institution, conducting policy with a light imprint on financial markets.

Transcript for the episode can be found here.

Bill's SIFMA profile: https://www.sifma.org/people/bill-nelson/

Bill's BPI archive: https://bpi.com/tag/bill-nelson/

Bill's American Banker archive: https://www.americanbanker.com/author/william-nelson-ab3618

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