George Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives, professor emeritus of economics at the University of Georgia, and a returning guest to show. For this special live episode, George joins Macro Musings to talk about his new book, *Floored: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession.* David and George also discuss the liquidity coverage ratio, the Fed's transition from a corridor to a floor system, and the arguments for and against such an operating system. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/02252019/floors-and-corridors George's Twitter: @GeorgeSelgin George's Cato Institute profile: https://www.cato.org/people/george-selgin Related Links: *The Fed Marches On* by George Selgin https://www.alt-m.org/2019/01/31/the-fed-marches-on/ *Balance Sheet News* blog post by Stephen Williamson http://newmonetarism.blogspot.com/2019/02/balance-sheet-news_21.html David Beckworth's Twitter thread on the Fed's decision to stick with a floor system: https://twitter.com/DavidBeckworth/status/1098956723501576192 David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

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