George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. He is also the most frequent guest on Macro Musings, now appearing for his 12th time. In this episode, George and David identify and discuss their top three articles from the past few weeks related to macroeconomics and monetary policy. Specifically, George and Selgin discuss Lael Brainard's recent speech defending the Fed's prospects of issuing central bank digital currency, Janet Yellen's concession about the path that inflation has taken, the governmental accounting of Federal Reserve losses and whether they amount to a net taxpayer burden, why the Dollar remains firm as the dominant currency in global markets, how an orthodox corridor system defaults into a floor system during times of crisis, and much more. Transcript for the episode can be found here. George's Twitter: @GeorgeSelgin George's Cato profile David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox! Related Links: *No, Fed, Unrealized Losses are Real Losses for Taxpayers* by Bill Nelson *Preparing for the Financial System of the Future* speech by Lael Brainard at the 2022 U.S. Monetary Policy Forum *What if the Federal Reserve Books Losses Because of its Quantitative Easing?* by Willam B. English and Donald Kohn *From Burns to Powell*, a Macro Musings podcast episode with Guest Donald Kohn and host David Beckworth *Treasury Secretary Concedes She Was Wrong on 'Path That Inflation Would Take'* By Kevin Liptak and Paul LeBlanc *How Monetary Policy Got Behind The Curve And How To Get Back: A Policy Conference* Hoover Institution, Stanford University *Jack Dorsey is Wrong. The Dollar is Still a Global Reserve Currency* by Mark Copelovitch *A Model of Credit, Money, Interest, and Prices* by Saki Bigio and Yuliy Sannikov

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