Macro Hive Conversations With Bilal Hafeez

Ep. 220: George Selgin on Fed Independence, Poor Operations and Inflation

Jun 14, 2024

George Selgin, Senior Fellow at Cato Institute, and Professor Emeritus, delves into Fed's post-crisis changes, abundant reserves policy impact, inflation management post-covid, and recommendations on old books in monetary economics.

01:03:34

Creator website

Episode guests

George Selgin

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

George Selgin emphasizes the Fed's transition to an abundant reserve system post-GFC, altering banking operations.

The Fed's policy changes post-GFC affected bank behavior, lending practices, and interest rate management.

George highlights the delicate balance between controlling inflation and supporting economic growth post-COVID.

Deep dives

Introduction and Podcast Format

The podcast episode features a conversation with guest George Selgin, a senior economist, and professor emeritus, discussing monetary and financial alternatives, highlighting his unique background starting from a zoology major to economics. The dialogue touches upon George's interests in ecological processes, monetary economics, and his life in Granada, Spain. The host provides insight into George's critical views on monetary policy and the Fed.

Intro

2min

Unconventional Path into Economics with a Marine Biology Twist

6min

Discussion on the Big Changes at the Federal Reserve Post Global Financial Crisis

2min

Evolution of Bank Reserves and the Impact of Interest Rates

23min

Federal Reserve's Management of Inflation and Economic Outlook Post-COVID

25min

Recommended Old Books in Monetary Economics and Writing

2min

Upcoming Book Release on the New Deal Era and Author's Work

3min

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. He is the author of numerous books, including ‘The Theory of Free Banking’, ‘Floored! How a Misguided Fed Experiment Deepened and Prolonged the Great Recession’ and ‘The Menace of Fiscal QE’. George is one of the founders, with Kevin Dowd and Lawrence H. White, of the Modern Free Banking School, which draws its inspiration from the writings of F. A. Hayek on denationalization of money and choice in currency. In this podcast, we discuss how marine biology helps you understand economics, how the Fed fundamentally changed after the Global Financial Crisis, understanding the Fed’s abundant reserves policy, and much more.

https://macrohive.com/home-prime/

https://twitter.com/Macro_Hive

https://www.linkedin.com/company/macro-hive