2025-04-07
59 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 economist and an executive vice president at the Bank Policy Institute.
Bill previously was a deputy director of the Division of Monetary Affairs at the Federal Reserve Board,
where his responsibilities included monetary policy analysis,
discount window policy analysis, and financial institution supervision.
Bill also worked closely with the BIS Working Group in the design of liquidity regulations.
Bill is also a frequent guest of the show,
so we encourage you to go back and check out his previous programs if you haven't already.
Today Bill joins us to discuss an emerging trend among advanced economy central banks,
the movement away from the so-called supply-driven floor system to a demand-driven floor system,
and what this means for the future of central bank operating systems.
Bill, welcome back to the program.
Thanks, David.
It's always a pleasure to be here.
It's always great to have you here.