Russ Roberts interviewed David Beckworth at the Cato Institute Thursday, May 19th, for a “recorded live” edition of his podcast series, EconTalk. The final version of the podcast, along with video, was recently released. Beckworth and Roberts mostly discussed the Fed and the Great Recession. Towards the end…
Although I was an academic economist for 30 years, almost all of them spent in departments with PhD programs, I was never much of a graduate student mentor. As a matter of fact hardly any graduate students chose to work with me, and, unless I miss my…
Did the Fed set its policy interest rate below the market-clearing or 'natural' interest rate level in the early-to-mid 2000s? Or did it simply lower its policy interest rate down to a depressed natural interest rate level during this time? The answers to these questions determine whether…