88 – Ricardo Caballero on the Safe Asset Conundrum
Macro Musings with David Beckworth
00:00
The US as the Banker to the World: Safe Assets and Imbalances
The chapter explores how the US functions as a global financial intermediary by providing safe assets to the world while holding riskier assets itself. It discusses the implications of this imbalance on global economics, analyzing historical events and potential future scenarios. The conversation delves into the dynamics of debt issuance, safe assets shortages, and the role of various countries in shaping the global financial system.
Transcript
Play full episode
