Chris Hughes on the Legacy of Arthur Burns and its Implications for Macro Policy Today
Macro Musings with David Beckworth
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The Benefits of the Fed Being a Lender of Last Resort
There's constant benefits to the Fed being this lender of last resort to the world, backstopping global dollar markets. The case against the Fed doing what it does in increasing the footprint of the US economy is that it leads to an over-financialization of theUS economy. It arguably maybe creates more inequality and creates issues that we may not be thinking about as much as we should. So, I'd love to hear where you come out on that debate and that question.
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