2026-03-30
50 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 Ruth Judson.
Ruth is a monetary economist, economic historian,
tracker of global capital flows, and a longtime veteran of the Federal Reserve Board of Governors.
She joins us today to talk about all things dollars, from physical cash to digital dollars.
Ruth, welcome to the program.
Thank you.
Well, it's great to have you on.
And I came across your research some time ago when I was looking at the demand for currency.
And lo and behold, your name just popped up, and you have a lot of work on this, and we'll talk about that today.
But you've done so much more.
You've written a lot on global capital flows, the tick data.
You've written on safe assets, written on money.
I just learned that you were the one who kept track of the data on monetary aggregates at the Federal Reserve,
the H-4-1, and the balance sheet and all the other good stuff.
So you've seen it all at the Fed, haven't you?
I wouldn't say I've seen it all, but I've seen a lot.