2025-04-21
56 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 Catherine Judge.
Kate is a law professor at Columbia University and a legal scholar of the Federal Reserve and financial policy.
Kate has a new paper with Rich Clarida that looks at the emergency lending facilities or 13-3 of the Federal Reserve and lessons learned from its use
since the great financial crisis.
Kate joins us today to discuss the paper as well as other potential institutional changes happening at the Fed.
Kate, welcome back to the program.
It's great to be back.
It's great to have you back on.
This is your third time, so you're a regular.
We got to get you a special jacket you can put on for someone who's been on this many times.
Rarely pride.
Yes, and it's great to have you on because this paper seems very timely.
And some of your other work as well we'll talk about.
There's been a lot happening.