Raghuram Rajan is a finance professor at the University of Chicago and leads the Group of 30. Previously he was the chief economist at the IMF and the governor of the Reserve Bank of India. In Raghuram's first appearance on the show, he discusses his famous 2005 Jackson Hole speech, how he righted the ship on India's emerging economy, the consequences of zero-sum thinking, the differences between being a policymaker and an academic, the ratcheting effect of QE on the Fed's balance sheet, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on January 20th, 2025

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Timestamps

00:00:00 - Intro

00:01:58 - Raghu's Career

00:22:20 - Policymaker Versus Academic

00:29:00 - Ratcheting Effect of Quantitative Easing

01:01:06 - Outro

Andrew Martinez is a former Treasure economist and currently is an assistant professor of economics at American University. In Andrew's first appearance on the show, he discusses his career as a forecaster, the current state of forecasting, the intersection of AI and forecasting, the role of the SEP and monetary policy surprises, his work with David on the NGDP Gap measure, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on January 13th, 2025

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Timestamps

00:00:00 - Intro

00:01:20 - Andrew's Career

00:08:36 - State of Forecasting

00:20:19 - AI and Forecasting

00:29:34 - The SEP and Monetary Policy Surprises

00:41:07 - Nominal GDP/Expectations Gap

00:54:56 - Outro

Dan Awrey is a professor of Law at Cornell University and the author of the new book Beyond Banks: Technology, Regulation, and the Future of Money. Dan returns to the show to discuss his new book, the shadow monetary system, the case for markets to correct this problem, Gresham's new law, his proposals for fixing the payments system, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on January 13th, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Dan Awrey on X: @DanAwrey

Follow the show on X: @Macro_Musings

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Timestamps

00:00:00 - Intro

00:01:16 - Beyond Banks

00:16:04 - Shadow Monetary System

00:26:07 - Can't Markets Solve Payment Problems?

00:28:16 - Gresham's New Law

00:40:27 - Dan's Proposal for Money and Payments

00:55:51 - Outro