Macro Musings with David Beckworth Will Bateman on the History and Evolving Nature of the Fiscal Fed
Nov 6, 2023
Will Bateman, associate professor and associate dean of research at the Australian University College of Law, discusses his paper 'The Fiscal Fed' which examines the Fed's fiscal functions during major historical events. Topics include the Fed's role in war financing, the US dollar as a reserve currency, the history of yield curve control, and the possibility of turning the paper into a book.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7
Introduction
00:00 • 4min
The Fiscal Supporting Function of the US Central Bank
03:31 • 12min
The Birth, Growth, and Hibernation of the Fiscal Fed
15:23 • 2min
Fiscal Backstopping by the Federal Reserve: The Liberty Bond Example
17:40 • 3min
The Role of the US Dollar as the Reserve Currency
20:41 • 18min
The History and Objectives of Yield Curve Control
38:20 • 20min
Wrapping up and Future Plans
58:26 • 2min