2024-06-17
58 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 at the Mercator center at George Mason University.
And I'm glad you decided to join us.
Our guest today is Mickey Levy.
Mickey is a Wall street veteran and a longstanding member of the Shadow Open Market committee.
Mickey and his co author Charlie Ploster have a new paper out titled the Fed's strategic approach to monetary Policy needs a reboot.
Mickey joins us today to discuss this paper and its implications for the upcoming Fed framework review.
Mickey, welcome to the show.
It's a pleasure to be here.
Well, it's great to have you on.
And I have gotten to know you through the years at Hoover monetary policy conferences and I believe also, also at some Cato monetary policy conferences.
And in fact, I was thinking, Mickey, probably the first time, I think I had a long conversation with you.
We were in a taxi returning from a Hoover monetary policy conference to the airport.
You were in there.
And Charlie Ploster, your co author of this paper we're going to talk about, was in there.
I remember I was really trying to make the case for nominal GDP targeting to Charlie.
He was skeptical about the idea, but you were embracing it.
It took Charlie a bit more convincing before he warmed up to the idea.
But that was the first time I think we had a meaningful conversation.
And since then, I've continued to see you at the conferences.