George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest on Macro Musings and he rejoins the podcast to talk about some recent developments in the monetary and fiscal policy space. Specifically, David and George discuss new narratives around shadow banking and the financial crisis, the fiscal cost of large central bank balance sheets, the return of secular stagnation, and a lot 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! Check out our new Macro Musings merch here! Related Links: *A Monetary Policy Primer: Parts 1-12* by George Selgin *Why Shadow Banking Didn't Cause the Financial Crisis* by Norbert Michel *The Federal Reserve's Balance Sheet: Costs to Taxpayers of Quantitative Easing* by Andy Levin and Bill Nelson *The Monetary Executive* by Christina Parajon Skinner *Secular Stagnation is Not Over* by Olivier Blanchard *The Hard Road to a Soft Landing: Evidence from a (Modestly) Nonlinear Structural Model* by Randal Verbrugge and Saeed Zaman *Brazil and Argentina to Start Preparations for a Common Currency* by Michael Stott and Lucinda Elliott *Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic* by Aleksander Berentsen, Christopher Waller, and Alessandro Marchesiani *Fallen Heroes: Central Banks Face Credibility Crisis as Losses Pile Up* by Johanna Treeck *SNB Will Shrink Balance Sheet After Record Loss, Citigroup Says* by Bastian Benrath *George Selgin on False Dawn: The New Deal and the Promise of Recovery* by Macro Musings

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