My latest Macro Musings podcast is with Joe Gagnon of the Peterson Institute for International Economics. Joe is a senior fellow at the Peterson Institute of International Economics and formerly worked for the Federal Reserve Board of Governors as an associate director for both the Division of International Affairs and the Division of Monetary Affairs.
Joe joined me for a fascinating discussion on the Fed's large scale asset programs, also known as quantitative easing (QE). Drawing upon his experience at the Board of Governors as well as the literature on large scale asset purchase, Joe explains the theory and consequences of the Fed's QE programs. We also discuss the QE programs implemented by the Bank of Japan and the European Central Bank and consider whether central banks can "run out of ammunition." Finally, we also cover the outlook for the global economy and the implications of Brexit. It was a great conversation throughout.
You can listen to the podcast via iTunes, Sound Cloud, Stitcher, or your favorite podcast app. You can also listen through the embedded player above. And remember to subscribe since more guest are coming!