Gianluca Benigno is a professor of economics at the University of Lausanne and was formerly a senior staffer and economist at the Federal Reserve Bank of New York, an economist at the Bank of England, and worked at the London School of Economics. Gianluca joins Macro Musings to talk about financial conditions in r**, his work on *The Dollar's Imperial Circle,* and more. David and Gianluca also discuss the importance of liquidity in a New Keynesian framework, the origins and purpose of the Global Supply Chain Pressure Index, the "Global Financial Resource Curse," and a lot more. Transcript for this week's episode Gianluca's Twitter: @BenignoGianluca Gianluca's website David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Join the Macro Musings mailing list! Check out our new Macro Musings merch! Related Links: *The Dollar's Imperial Circle* by Gianluca Benigno, Ozge Akinci, Serra Pelin, and Jon Turek *The Financial (In)Stability Real Interest Rate, R*** by Gianluca Benigno, Ozge Akinci, Marco Del Negro, and Albert Queralto *Interest, Reserves, and Prices* by Gianluca Benigno and Pierpaolo Benigno *The Financial Resource Curse* by Gianluca Benigno and Luca Fornaro *The Global Financial Resource Curse* by Gianluca Benigno, Luca Fornaro and Martin Wolf

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“What did the council decide on item 42?” — answered with the speaker and the moment.