My latest Macro Musings podcast is with David Andolfatto. David is a vice president of the St. Louis Federal Reserve Bank and a professor of economics at Simon Fraser University. He has published widely in the area of monetary economics, and has done so in many top journals. David is also one of the few Fed economists that engages in broader economic conversations via blogging and tweeting. So it was a real treat to have him on the show.
David joined me to discuss a number of interesting topics. We begin by covering what it is like to work at the Federal Reserve and, particularly, at the St. Louis Federal Reserve Bank. We then mull over the issue of whether banks should be increasingly financed by equity rather than short-term debt as a means to stem financial panics. The conversation then moved to the importance of looking at the consolidated balance sheet of the government when considering how macroeconomic policy actually influences aggregate nominal spending. Finally, we move to a discussion on blockchain technology and what it means for Federal Reserve policy. It was a fascinating conversation throughout.