Introduction

Jeanna Smialek is a reporter who covers the Federal Reserve and the economy for the New York Times, and is the author of a new book titled, *Limitless: The Federal Reserve Takes On a New Age of Crisis.* Jeanna is also a returning guest to Macro Musings and rejoins the podcast to talk about her book and its implications for the future of the Federal Reserve system. David and Jeanna also discuss the credit allocation vs. liquidity support debate, the Fed’s definition of price stability, the Bank Term Funding Program, and a lot more.

Transcript for this week’s episode

Jeanna’s Twitter: @jeannasmialek

Jeanna’s New York Times profile

David Beckworth’s Twitter: @DavidBeckworth

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Related Links:

*Limitless: The Federal Reserve Takes on a New Age of Crisis* by Jeanna Smialek