Fiscal Backstopping by the Federal Reserve: The Liberty Bond Example

Will Bateman is an associate professor and associate dean of research at the Australian National University College of Law. Will has recently authored a paper titled, *The Fiscal Fed,* which takes a close look at the Fed’s fiscal functions during the two World Wars, the Great Depression, the Cold War, the global financial crisis, and the COVID-19 pandemic. Will joins Macro Musings to talk about this paper, the origins and evolution of the Fed, the implications for policymakers, and a lot more.

Transcript for this week’s episode.

Will’s ANU profile

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Related Links:

*The Fiscal Fed* by Will Bateman

*The Law of Monetary Finance Under Conventional Monetary Policy* by Will Bateman