Paul Kupiec on Problems with the Fed’s Balance Sheet and Calls to End Interest on Reserves

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  Welcome to macro museums where each week we pull back the curtain and take a closer look at the most important macro economic issues of the past,

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  present and future.

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  I am your host David Beckworth,

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  a senior research fellow with the Mercatus Center at George Mason University.

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  I'm glad you decided to join us.

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  Our guest today is Paul Kupiec.

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  Paul is a senior fellow at the American Enterprise Institute, or AEI,

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  and formerly worked at the FDIC, the IMF, the Fed, and Wall Street.

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  Paul joins us today to discuss issues surrounding the Fed's balance sheet and recent calls by members of Congress to end interest on reserves.

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  Paul, welcome to the show.

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  Thank you, David.

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  Thanks for inviting me.

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  It's great to have you on.

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  Now, we first met at an event that you hosted at the AEI.

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  You graciously invited me to participate on a panel.

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  I think George Seligman had launched his book.

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  on the Fed's new floor system.

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  It was myself, George Seligin, and then Bill Nelson, and yourself had a great conversation.

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  Got to know you, got to know Bill Nelson.

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  Lots of fun conversations since that time with Bill and George on operating systems,

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