2026-03-23
55 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 research officer and chief economist at the Bank Policy Institute.
He is also the former deputy director of the Division
of Monetary Affairs at the Federal Reserve Board.
Bill joins us today to discuss some recent research on the structural demand for reserves,
as well as some updates on the Fed's balance sheet and his testimony on that issue before Congress.
Bill, welcome back to the program.
Thanks for having me, David.
It's always a pleasure.
Bill, this is appearance number 10.
That's crazy.
It is.
That's really surprising.
And that means you get an official golden jacket, although we haven't issued one yet.
We'll be the first.
George also is entitled to one George Selgin.