The latest Macro Musings is an episode I could recommend to students in a macroeconomics class.
Jim Clouse on the Last 4 Decades at the Most Powerful Central Bank in the World
Since the great depression is over, what are the big events of the 21st century for macroeconomics?
9/11 and shoring up bank confidence subsequently
The Great Recession and preceding mortgage crisis
Covid and subsequent stimulus
This conversation is a tour of the trade offs under consideration at the Central Bank at these pivotal moments in the 21st century.
Beckworth: I think this is where it’s important to do the right counterfactual. What could have been could have been far worse, right? If there hadn’t been these interventions, so it’s easy to criticize from the outside, and there’s a lot of criticisms the Fed received at this time. Not to say we would have gone all the way to the Great Depression, but the fact that it was possible, right, this financial system was crashing.
Economist Writing Every Day 