David Beckworth
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Senior Research Fellow
David Beckworth is a senior research fellow at the Mercatus Center at George Mason University and director of the Mercatus Center’s monetary policy program. His primary research focuses on the targets, tools, operating system, and governance of the Federal Reserve, and has included work on the US Treasury market, the safe asset shortage, and dollar dominance. He has advised congressional staffers and Fed officials on monetary policy and has been cited by the Wall Street Journal, Financial Times, New York Times, Bloomberg Businessweek, and the Economist.
Beckworth is also the host of Macro Musings, a weekly podcast on macroeconomics, where, since 2016, he has interviewed hundreds of experts, including regional presidents of the Federal Reserve, Nobel laureates, and leading academics from around the world. He is the author of Boom and Bust Banking: The Causes and Cures of the Great Recession (Independent Institute, 2012). Formerly an international economist at the US Department of the Treasury, he earned his PhD in economics from the University of Georgia.
Latest Work
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
What is the Biggest Threat to Fed Independence? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Daniel Bunn on Fiscal Issues Currently Facing the US Government

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
From Floors to Flexibility | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Adam Ozimek on Reforming the High-Skilled Immigration Process

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
A Two-for-one Targeting Deal? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Skanda Amarnath on the Future of the Federal Reserve and its Framework

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Checking in on Our Nominal World | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Measuring Macroeconomic Policy: the NGDP Gap
Latest Work
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
What is the Biggest Threat to Fed Independence? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Daniel Bunn on Fiscal Issues Currently Facing the US Government

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
From Floors to Flexibility | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Adam Ozimek on Reforming the High-Skilled Immigration Process

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
A Two-for-one Targeting Deal? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Skanda Amarnath on the Future of the Federal Reserve and its Framework

- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Checking in on Our Nominal World | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Measuring Macroeconomic Policy: the NGDP Gap
Latest Work
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Measuring Macroeconomic Policy: the NGDP Gap
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Fed’s 2024–25 Framework Review: Optimizing the Dual Mandate Through Nominal GDP Level Targeting
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q1 2024
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q4 2023
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q3 2023
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q2 2023
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q1 2023
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q4 2022
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q3 2022
Latest Work
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Daniel Bunn on Fiscal Issues Currently Facing the US Government

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Adam Ozimek on Reforming the High-Skilled Immigration Process

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Skanda Amarnath on the Future of the Federal Reserve and its Framework

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Andy Levin on Holding the Fed Accountable

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Kathryn Judge on the Importance of Emergency Lending Facilities at the Federal Reserve

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Paul Blustein on the Rise, Dominance, and Current Challenges to King Dollar

- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Trump’s Tariffs | Newt’s World
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Bill Nelson on the Future of Central Bank Operating Systems

Latest Work
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
What is the Biggest Threat to Fed Independence? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
From Floors to Flexibility | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
A Two-for-one Targeting Deal? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Checking in on Our Nominal World | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Safeguarding Fed Independence: The Case for an Independent Inspector General | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
A Safe Harbor for the Fed | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Breaking up Is Hard To Do | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
A New Plumbing System for Central Banks? | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
From 'Liberation Day' to Stagflation's Return? | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary