Macro Musings with David Beckworth Peter Stella on the Quasi-Fiscal Implications of Central Bank Crisis Intervention
33 snips
Jun 12, 2023 Chapters
Transcript
Episode notes
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Introduction
00:00 • 4min
Should the Fed Have Lost $1 Trillion?
03:35 • 6min
The Fed's Balance Sheet Is Offset by the Gain
09:15 • 4min
The Overestimation of Nominal Interest Rates
13:18 • 4min
The Market Value to GDP Ratio
17:12 • 3min
The Fiscal Theory of the Price Level
19:54 • 4min
The Importance of Market Value in Debt Burns
23:27 • 6min
The Fed Opened the Window on C Street and Yelped Out the Window
29:26 • 3min
The Fed Shouldn't Have Lost Money, but Only on the Mortgage-Backed Security Side
32:33 • 3min
The Fed's Waiting Into Public Debt Management
36:03 • 2min
The Conflict Between the Treasury and the Treasury
37:48 • 4min
The Tension Between the Fed and the Treasury
42:13 • 6min
The Implications of Central Bank Crisis Interventions
48:13 • 2min