Donald Kohn on the Fed's Past, Present, and Future

唐纳德·科恩谈美联储的过去、现在与未来

Macro Musings with David Beckworth

2026-08-31

1 小时 9 分钟
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单集简介 ...

Donald Kohn is a 40-year veteran of the Federal Reserve System and a senior fellow in the Economic Studies program at the Brookings Institution. Don returns to the program to discuss the lessons of the Greenspan Fed, how Kevin Warsh should think about communication and forward guidance, why inflation remains a concern, the Fed's new task forces, the future of its monetary policy tools, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on July 22nd, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:01:25 - Working with Paul Volcker 00:08:22 - Working with Alan Greenspan 00:22:11 - The Kevin Warsh Fed 00:31:21 - Fighting Inflation 00:43:26 - Balance Sheet Task Force 01:08:21 - Outro
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  • 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 Donald Cohn.

  • Don is a 40-year veteran of the Federal Reserve System and a senior fellow at Brookings Institution.

  • He joins us today to discuss recent developments at the Fed, as well as his reflections on Alan Greenspan.

  • Don, welcome back to the program.

  • Great to be with you again, David.

  • It's great to have you here.

  • As I mentioned, you're a 40-year veteran.

  • You previously were on the show, and I listened to it recently preparing for this one, and it's a fantastic episode.

  • So I encourage all the listeners out there to go back and check it out.

  • We spent a lot of time on your career.

  • Among other things, we talked about how you actually started at the Kansas City Fed from 1970 to 75. That's right.

  • And one of my colleagues here...

  • Tom Honig was one of your colleagues back in the day.

  • And I think Tom and Tom, we had a basketball game after work on the ninth floor, I think it was.

  • Tom claims I injured him with an elbow in his ribs or something.

  • But yeah, so we were colleagues there.