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Artwork for Macro Musings

Macro Musings with David Beckworth

Mercatus Center at George Mason University
Federal Reserve
Monetary Policy
Inflation
Fiscal Policy
Interest Rates
Stablecoins
Labor Market
Macroeconomic Policy
Quantitative Easing
Dollar Dominance
Economic Policy
Nominal GDP Targeting
Bitcoin
Dollarization
Argentina
Genius Act
Macroeconomics
Tariffs
Financial Stability
U.S. Dollar

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.

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Artwork for Macro Musings

Latest Episodes

Stephen Miran is a former governor of the Federal Reserve, a former chairman of the Council of Economic Advisers under President Donald J. Trump, and currently a senior strategist for Hudson Bay Capital Management. In Steve's third appearance on the ... more

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Donald Kohn is a 40-year veteran of the Federal Reserve System and a senior fellow in the Economic Studies program at the Brookings Institution. Don returns to the program to discuss the lessons of the Greenspan Fed, how Kevin Warsh should think abou... more

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Ben Harris is vice president and director of economic studies at the Brookings Institution and previously served in senior economic policy roles at the Treasury Department and Council of Economic Advisers. Ben returns to the program to discuss why re... more

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Bill Nelson is chief research officer and chief economist at the Bank Policy Institute and a former deputy director of the Division of Monetary Affairs at the Federal Reserve Board. In Bill's 11th appearance on the show, he discusses how central bank... more

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Recent Guests

Stephen Miran
Former Federal Reserve Governor, former Chair of the Council of Economic Advisers
Former Fed Governor; former CEA Chair
Episode: Stephen Miran on Regulatory Dominance, Shrinking the Fed's Balance Sheet, and the Return of Monetarism
Donald Kohn
Former Vice Chair and Governor of the Federal Reserve
Federal Reserve, Brookings Institution
Episode: Donald Kohn on the Fed's Past, Present, and Future
Gianluca Benigno
Professor of economics at the University of Lausanne; former NY Fed economist; former Bank of England economist
University of Lausanne
Episode: Gianluca Benigno on Central Bank Balance Sheets, Stablecoins, and Nonlinear Inflation
Barry Eichengreen
Author, Money Beyond Borders
University of California, Berkeley
Episode: Barry Eichengreen, Paul Blustein, and Brendan Greeley on Dollar Dominance
David Wessel
Senior fellow in economic studies at Brookings; director of the Hutchins Center on Fiscal and Monetary Policy
Brookings Institution
Episode: David Wessel on the Fed's Current Inflection Point
Sam Lyman
Head of Research at the Bitcoin Policy Institute
Bitcoin Policy Institute
Episode: Sam Lyman on the Digital Payments Race Between the US and China
Stephan Luck
Economist at the Federal Reserve Bank of New York
New York Federal Reserve
Episode: Stephan Luck on What History can Teach Us about Financial Stability
Yesha Yadav
Legal scholar and economist, author on moneyness of stablecoins
[not explicitly stated in transcript]
Episode: Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins
Chris Odinet
Faculty at Texas A&M University Law School
Texas A&M University
Episode: Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins

Host

David Beckworth
Host of the show; economist affiliated with the Mercatus Center

Reviews

4.8 out of 5 stars from 945 ratings
  • Great podcast

    Amazing podcast! I learn a lot every week.

    Apple Podcasts
    5
    Time223344
    United States2 months ago
  • Lyman Stone

    Great show

    Apple Podcasts
    5
    GMac1776
    United States5 months ago
  • Thorvald

    Best Central Bank show out there. David has the right people on for in-depth discussion on contemporary central bank policy issues. If your are into ongoing discussion of monetary and fiscal policy, this is your station

    Apple Podcasts
    5
    Nbtgm1
    Norway6 months ago
  • Horwitz - Monetary Disequilibrium

    Very informative and insightful. Thanks!

    Apple Podcasts
    5
    FFSanchez
    United States6 months ago
  • The best

    The consistently best economics podcast. Full length, highly knowledgeable, and they go into great detail on subjects that are hard to come by with pretty honest takes. Greatly appreciated.

    Apple Podcasts
    5
    DB drooper
    United Statesa year ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Listeners praise the show's rigorous, well-researched macro discussions and strong guest lineup.
Some reviews call for more accessible entry points for non-experts, indicating audience could benefit from structured explainers.
Many appreciate clear, thorough explanations that make complex topics accessible.
Guest diversity and historical context are frequently highlighted as strong points.
Positive sentiment around production quality and credible guests.
Floating criticism notes occasional perceived pro-mederal perspectives but generally high regard for depth and quality.
Overall, audience values depth, range of perspectives, and practical insights for policy and markets.
Guests are seen as highly credible and topic-rich, contributing to strong reputation.
Listeners often donate, underscoring appreciation for public policy-focused content.
A few criticisms distrust editorial stance in politics, but these are in minority.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#115
Switzerland/Business
Apple Podcasts
#169
Poland/Business
Apple Podcasts
#192
Philippines/Business
Apple Podcasts
#197
South Korea/Business
Apple Podcasts
#225
New Zealand/Business
Apple Podcasts
#233
Hong Kong/Business

Talking Points

Recent interactions between the hosts and their guests.

Stephen Miran on Regulatory Dominance, Shrinking the Fed's Balance Sheet, and the Return of Monetarism
Q: Why focus on the Fed's balance sheet, and how feasible is shrinking it?
Shrinking the balance sheet is argued to be beneficial for independence and for reducing distortions in credit allocation; a menu of steps can reduce reserve demand and, under ample reserves or transitioning to scarce reserves, shrinkage could reach $1-2 trillion or more with manageable volatility.
Stephen Miran on Regulatory Dominance, Shrinking the Fed's Balance Sheet, and the Return of Monetarism
Q: What was it like to be a CEA chair and what did the role involve on a day-to-day basis?
The CEA chair coordinates across a wide range of economic topics, from tax and tariffs to regulations, and serves as the analytical advisor to the president and administration, with NEC handling interagency implementation.
Gianluca Benigno on Central Bank Balance Sheets, Stablecoins, and Nonlinear Inflation
Q: Do stablecoins create new money or debt, or do they relocate existing safe assets across balance sheets?
The key takeaway is that stablecoins are more about moving safe assets between balance sheets rather than creating new money or public debt; they mainly redistribute seniorage and influence reserve demand via regulatory structures, with distributional consequences in the US under Genius Act.
Gianluca Benigno on Central Bank Balance Sheets, Stablecoins, and Nonlinear Inflation
Q: What motivated you to write Stablecoin 101 and apply a T-account perspective across regulatory regimes?
The work aims to establish a basic, ground-up understanding of how stablecoins operate within different regulatory structures, focusing on how backing and transmission mechanisms vary by regime and how that shapes reserve demand and the broader monetary system.
Sam Lyman on the Digital Payments Race Between the US and China
Q: Where does the Clarity Act stand and why does it matter for the crypto ecosystem?
Sam explains that passing the Clarity Act would signal formal US acceptance and endorsement of Bitcoin as a form of savings/money, set a regulatory clarity that could spur further adoption and innovation, and potentially attract more global capital into crypto businesses.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Frequently Asked Questions About Macro Musings

What is Macro Musings about and what kind of topics does it cover?

Focused on macroeconomics, monetary policy, and financial regulation, the show features deep dives with leading economists, central bank historians, and policy researchers. Topics span central bank balance sheets, digital currencies, policy frameworks, and the intersection of finance with public policy. Episodes are notable for high-caliber guests, rigorous analysis, and historical context that helps listeners understand current policy debates and future risks. The program often blends theoretical framing with practical implications for investors, policymakers, and professionals seeking to stay ahead of macro trends. Noteworthy strengths include a strong reputation for rigorous, research-driven discussion and access to a wide network of exp... more

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Which podcasts are similar to Macro Musings?

These podcasts share a similar audience with Macro Musings:

1. Macro Hive Conversations With Bilal Hafeez
2. Odd Lots
3. Monetary Matters with Jack Farley
4. The Macro Trading Floor
5. Forward Guidance

How many episodes of Macro Musings are there?

Macro Musings launched 10 years ago and published 567 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Macro Musings?

Recent guests on Macro Musings include:

1. Stephen Miran
2. Donald Kohn
3. Gianluca Benigno
4. Barry Eichengreen
5. David Wessel
6. Sam Lyman
7. Stephan Luck
8. Yesha Yadav

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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