Michael Dooley is a chief economist for Figure Technologies and a 20-year veteran of the Federal Reserve System and the IMF. Michael is also a professor emeritus in the department of economics at the University of California, Santa Cruz, and he joins Macro Musings to talk about the international monetary system and the future of the dollar. Specifically, David and Michael also discuss the original and revised Bretton Woods systems, the Fed's role as a monetary superpower, and what this means for the US as a provider of safe and unsafe assets. Transcript for the episode can be found here. Michael's UC Santa Cruz profile Michael's NBER archive 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: *US Sanctions Reinforce the Dollar's Dominance* by Michael Dooley, David Folkerts-Landau, and Peter Garber *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff *Dilemma Not Trilemma: The Global Financial Cycle and Monetary Policy Independence* by Helene Rey *The Global Financial Cycle* by Helene Rey and Silvia Miranda-Agrippino

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