Lev Menand

Lev Menand, a Columbia Law professor, and Josh Younger, a policy advisor at the Federal Reserve Bank of New York, explore the intricate world of eurodollars. They dive into the origins of this $10 trillion market, tracing its roots to post-World War II Europe amidst Cold War tensions. The discussion reveals how geopolitical dynamics shaped the eurodollar's development, the role of eurobanks in trade across the Iron Curtain, and London's emergence as a financial hub. This unique market highlights the complexities of shadow banking and its impact on global finance.

Lev Menand, a Columbia Law School professor and author of "The Fed Unbound," delves into the critical challenges facing the Federal Reserve's independence. He discusses the potential repercussions of recent political maneuvers, specifically how presidential control could reshape regulatory frameworks. Menand highlights the alarming negligence of Wall Street in recognizing these risks and stresses the urgent need for a balanced governance structure to preserve economic stability. The conversation unveils deep implications for monetary policy, trust in markets, and the future of regulatory agencies.

Lev Menand, a Columbia Law School professor, and Josh Younger, a policy advisor at the Federal Reserve Bank of New York, dive into the tumultuous history of eurodollars. They discuss the pivotal moment of Nixon's move away from the gold standard in the 1970s and its lasting impact on modern finance. The conversation also explores how geopolitical tensions, particularly from the 1973 oil embargo, reshaped global monetary policies and created economic turbulence. Their insights illuminate the complexities that define today's financial landscape.

Lev Menand, a Columbia Law School professor, and Josh Younger, a Federal Reserve Bank of New York policy advisor, delve into the fascinating history of the Eurodollar market. They discuss its evolution during the tumultuous 1960s and how it transformed the dollar into a strategic asset amid Cold War tensions. The duo explores the interplay between monetary policy and international finance, addressing challenges like dollar stability and liquidity. They also highlight pivotal figures and events that shaped American economic policies during this critical period.

Lev Menand, an associate professor of law at Columbia, delves into the eurodollar market's pivotal role in the global financial system. He discusses its historical context, drawing parallels to the 2008 crisis, and emphasizes its current valuation of $13 trillion. Menand raises concerns about offshore dollar liabilities and the regulatory challenges they pose. The conversation also touches on the emerging presence of stablecoins and their potential to reshape financial dynamics, questioning whether they might replace eurodollars as a financial staple.