Macro Musings

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Thomas Hoenig on Public Debt Sustainability and the Current State of the US Banking System

• September 25, 2023

As high interest rates continue to persist, a possible collapse of the commercial real estate market may be a stern warning about the health of the US banking system.

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Robert McCauley on Bond Market Crises and the International Lender of Last Resort

• September 18, 2023

As the 2020 dash for cash demonstrated, the Fed has now assumed a crucial role as the twenty-first century international lender of last resort in the bond market.

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Joe Gagnon on Inflation Progress and the Path Ahead: Breaking Down Jerome Powell’s Jackson Hole Speech

• September 11, 2023

Chair Powell’s Jackson Hole speech provided some necessary reassurances while leaving some important questions unanswered, as we continue to navigate through an uncertain macro environment.

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Nicholas Anthony on the Current Prospects and Legislative Developments Surrounding CBDC

• September 4, 2023

As proposals for CBDC development become more ubiquitous across governments and central banks, it’s important to weigh the many arguments for and against such propositions.

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John Coates on *The Problem of Twelve: When a Few Financial Institutions Control Everything*

• August 28, 2023

As private equity and index funds continue to swallow up a growing number of financial assets, the legitimacy and accountability of American capitalism may be called further into question.

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Zac Gross on the Past, Present, and Future of Australian Monetary Policy

• August 21, 2023

Altering the monetary policy decision-making process and switching to a corridor system are just a few steps the RBA can take to improve policy outcomes in the future.

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Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard

• August 14, 2023

In the search for better money, it’s important to compare and evaluate all monetary standards with sound monetary theory, economic analysis, and relevant historical contexts.

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Ricardo Reis on the Macroeconomics of Financial Crises and the Recent Inflation Surge

• August 7, 2023

The Great Recession period offers many lessons for identifying and preventing macroeconomic crises in the future.

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Macro Lit Review 4: Highlights from Mid-2023 with George Selgin

• July 31, 2023

George Selgin rejoins David Beckworth to discuss a wide range of important monetary and financial policy developments.

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Bryan Cutsinger and Louis Rouanet on the Politics and Dynamics of Hyperinflation in Revolutionary France

• July 24, 2023

After years of political turmoil and subsequent hyperinflation, revolutionary France provides a valuable lesson in monetary theory that still has implications today.