

Macro Musings with David Beckworth
Mercatus Center at George Mason University
Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.
Episodes
Mentioned books

Oct 6, 2025 • 43min
Raphael Bostic on Life as a Regional Fed President, the Responsibilities of a Dual Mandate, and the Results of the 2025 Framework Review
Raphael Bostic, President and CEO of the Federal Reserve Bank of Atlanta, shares his unique perspective on central banking. He discusses how birding fosters focus and humility in policymaking. Bostic also delves into the Atlanta Fed's tools for real-time economic analysis and the implications of the 2025 Fed framework revision. Inflation and its persistence are major concerns, alongside the impacts of AI on labor and housing mobility. Plus, he offers insights on fiscal pressures and the resilience of the treasury market.

9 snips
Sep 29, 2025 • 1h 4min
Jon Hartley on the Legacy of John Taylor and his New Measure of R-Star
Join Jon Hartley, a macroeconomist and scholar at the Mercatus Center, as he dives into the legacy of economist John Taylor and his pivotal contributions to monetary policy. Hartley discusses the recent Hoover Monetary Conference, the impact of the Taylor Rule, and why central banks should adopt his new measure of R-star. He also analyzes the U.S. Treasury's shift towards short-term debt management and explores the implications for government interest costs and fiscal resilience. A fascinating exploration of macroeconomic insights!

29 snips
Sep 22, 2025 • 56min
Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star
In this engaging discussion, Marc Giannoni, the chief U.S. economist at Barclays Capital and former central banker, dives into the intricacies of the Fed's 2020 Framework Review. He highlights critical issues surrounding Fed independence and the dangers of fiscal dominance. Marc elucidates his research on r-star, explaining its decline amidst shifting demographics and productivity trends. He also examines whether monetary policy has become more or less effective, challenging common perceptions with insights from his influential work.

8 snips
Sep 15, 2025 • 49min
Samim Ghamami on the Treasury Markets Impact on the Future Path of Interest Rates and Inflation
In this discussion, guest Samim Ghamami, a former SEC economist, dives deep into the U.S. fiscal trajectory and its implications for interest rates and inflation. He highlights how rising public debt and demographic shifts challenge financial stability. Ghamami also explores how trade wars and corporate investment strategies affect long-term interest rates. The conversation wraps up with proposed Treasury market reforms and the critical need for a balanced budget to ensure economic resilience.

17 snips
Sep 8, 2025 • 56min
Jerry Dwyer on the History of Free Banking and the Future of Bitcoin
Jerry Dwyer, a professor emeritus at Clemson and senior fellow at the Bitcoin Policy Institute, shares insights on the evolution of free banking. He reflects on his mentorship under Milton Friedman and discusses the historical context of banking in the U.S. Dwyer explores how stablecoins are shaped by blockchain technology and contrasts their regulatory differences across states. He also highlights the potential risks posed by quantum computing to cryptocurrency security and considers the future implications for Bitcoin and digital currencies.

Sep 1, 2025 • 48min
Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto
Hester Peirce, a commissioner at the SEC and member of its crypto task force, discusses her unique career path and the evolving landscape of financial regulation. She delves into the complexities of financial privacy in a tech-driven world and critiques current financial surveillance practices. Hester explores the challenges regulators face with cryptocurrencies, the need for clear legislative frameworks, and the importance of dissent in fostering effective regulatory practices. Her insights pave the way for a balanced approach to innovation and investor protection.

18 snips
Aug 25, 2025 • 56min
Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics
In this engaging conversation, Robin Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, revisits critical economic themes. He discusses the evolving status of the U.S. dollar amidst recent market fluctuations and fiscal dominance issues stemming from the pandemic. Robin dives into the complexities of the trade war, deglobalization, and how geopolitical tensions influence economic strategies. He also highlights the importance of political will in responding to sanctions against authoritarian regimes.

Aug 18, 2025 • 59min
Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises
Aditi Sahasrabuddhe, a political scientist at Brown University and author of Banker’s Trust, delves into the pivotal role of relationships among central bankers. She reveals how these connections shaped the economy in the 1920s and contributed to the Great Depression. Aditi highlights the 'Central Bank Club' and its impact on crisis management, referencing key figures like Benjamin Strong. The discussion extends to Japan's post-war recovery and emphasizes the ongoing importance of trust and collaboration in navigating today's economic challenges.

34 snips
Aug 11, 2025 • 51min
Will Luther and Josh Hendrickson on the Future of Bitcoin
Will Luther, an associate professor at Florida Atlantic University and a fellow at the Bitcoin Policy Institute, joins Josh Hendrickson, chair of the economics department at the University of Mississippi and also a fellow at BPI. They discuss the concept of a strategic Bitcoin reserve and its implications for U.S. monetary policy. The duo explores Bitcoin’s potential to challenge U.S. financial hegemony and enhance stability amid volatility. They also dive into innovative financial products linked to Bitcoin, highlighting its evolving role in global finance.

13 snips
Aug 4, 2025 • 58min
Rashad Ahmed on the Global Impact of US Stablecoin Regulation and Crypto Adoption
Rashad Ahmed is an economist at the Andresen Institute for Finance and Economics, previously engaging with the Treasury and the Office of the Comptroller of the Currency. He discusses the global ramifications of U.S. stablecoin regulation, highlighting how it could reshape international financial systems and trade. Ahmed also dives into cryptocurrency adoption trends among G20 nations, revealing links between sovereign risk and crypto uptake. The conversation is rich with insights into how stablecoins could influence macroeconomic dynamics worldwide.