2026-08-17
55 分钟Welcome to Macro Musings, where each week we pull back the curtain
and take a closer look at the most important macroeconomic issues of the past, present, and future.
I am your host, David Beckworth, a senior research fellow with the Mercatus Center at George Mason University,
and I'm glad you decided to join us.
Our guest today is Bill Nelson.
Bill is a chief research officer and chief economist at the Bank Policy Institute.
Bill is also a former deputy director of the Division
of Monetary Affairs at the Board of Governors at the Federal Reserve System.
Bill joins us today to discuss the latest developments in balance sheets
and operating systems at central banks around the world, and especially at the Federal Reserve System.
Bill, welcome back to the program.
Thank you, David.
It's always fun to be here.
It's always great to have you, Juan, because we share a common interest, maybe a common passion.
And central bank balance sheets and operating systems.
And I was thinking back to the first time I met you, Bill.
I believe it was an AEI event, American Enterprise Institute event.
And we were on a panel discussing the Fed's operating system.
We first met then.
It was George Selgin, yourself, me, and then the host.