Tara Sinclair on Building a Synthetic FOMC Through AI
Tara Sinclair is a professor and chair of the economics department at George Washington University. Tara returns to the show to discuss her ambitious paper simulating an FOMC meeting before it happens with LLM models, the process of building sim FOMC members, the importance of publicly funding economic data, the future of AI and macroeconomics, and much more. Check out the transcript for this week's episode, now with links. Recorded on October 27th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Tara on X: @TaraSinc Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:01:44 - Data and Policymaking 00:05:28 - Federal Forecasters Conference 00:08:01 - FOMC in Silico 00:32:56 - Future Applications 00:38:29 - Broader Implications 00:42:57 - Central Bank Governance and AI 00:51:40 - Outro
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52:20
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52:20
Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom
Bryan Cutsinger is a monetary historian and an assistant professor of economics at Florida Atlantic University. Bryan returns to the show to discuss how we think about deflation, the history of growth driven deflation, the connection between the postbellum period and today, the potential of rapid productivity growth from AI, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 23rd, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Bryan on X: @BryanPCutsinger Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:04:41 - Rethinking Deflation 00:35:48 - Rapid Productivity Growth from AI 00:46:35 - Tolerating Deflation 00:55:28 - Outro
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56:08
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56:08
Will Roberds and Steve Quinn on the Original Central Bank: the Bank of Amsterdam
Will Roberds is an economist emeritus of the research department of the Federal Reserve Bank of Atlanta. Steve Quinn is a professor of economics at Texas Christian University. In Will and Steve's first appearance on the show they discuss the historical significance of the Bank of Amsterdam, The use of ledger at the Bank of Amsterdam, It's use of repo and open market operations, it's connection to central banking today, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 23rd, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:00:53 - Bank of Amsterdam 00:10:31 - Bank of Amsterdam's Ledger 00:32:09 - Motivations 00:36:49 - Seven Years' War 00:40:53 - The Repo Versus the Open Market 00:56:30 - Outro
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57:12
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57:12
Jim Clouse on the Last 4 Decades at the Most Powerful Central Bank in the World
Jim Clouse is a veteran of the Federal Reserve System and is currently a fellow at the Andersen Institute. In Jim's first appearance on the show, he discusses the evolution of monetary rules at the Fed, what happened at the Fed during Y2K, 9/11, the Great Financial Crisis, and the COVID Pandemic, the ever changing stigma of the discount window, Ted Cruz's calls to end interest on reserves, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 11th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:03:16 - Jim's Career 00:05:38 - Monetary Rules at the Fed 00:09:12 - Increasing Transparency at the Fed 00:17:25 - Y2K and the Fed 00:26:19 - Discount Window 00:32:21 - Global Financial Crisis 00:39:10 - Covid Pandemic 00:46:10 - Jim's Current Research 01:00:31 - Outro
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1:01:11
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1:01:11
Manmohan Singh on the Meaning of Money after the GENIUS Act
Manmohan Singh is the editor-in-chief of the Journal of Financial Markets Infrastructure. Manmohan returns to the show to discuss whether money still matters, the impacts of the GENIUS ACT, the lobbying show down over stablecoins in the US, stablecoins impact on the Eurodollar market, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 10th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel Timestamps 00:00:00 - Intro 00:02:12 - Does Money Still Matter? 00:10:33 - Stablecoins 00:37:53 - Stablecoins and the Eurodollar Market 00:53:15 - Outro
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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