Macro Musings with David Beckworth
Jon Hartley on the Shadow Open Market Committee and Macroeconomic Policy
Nov 4, 2024
Jon Hartley, a macroeconomist with the Mercatus Center and host of *Capitalism and Freedom in the 21st Century*, discusses key insights from a recent Hoover Institution conference. He explores the Shadow Open Market Committee's role in shaping monetary policy, the tension between fiscal theories and Fed strategies, and the implications of government debt management. Hartley also dives into how changing fiscal-monetary dynamics affect economic stability and the relevance of historical policy decisions during inflationary periods.
01:00:23
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Quick takeaways
- The Shadow Open Market Committee plays a pivotal role in critiquing the Federal Open Market Committee's actions and promoting monetary control principles.
- Recent discussions highlighted the interaction between monetary and fiscal policies, emphasizing the need for clarity in monetary frameworks amid government spending.
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Upcoming Conference Highlights
A conference titled 'Building a Better Fed Framework' is scheduled for December 2nd in Washington, D.C., featuring key speakers such as Fed Governor Chris Waller and notable guests including Athanasius Orphanides and George Selgin. This event promises insightful discussions surrounding the Federal Reserve's upcoming framework review. It also provides an opportunity for the host to connect with listeners in person, emphasizing the importance of community engagement in macroeconomic discourse. Listeners are encouraged to register and participate in these significant conversations.
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