Thomas Hoenig is a former vice chair of the FDIC, former president of the Kansas City Federal Reserve Bank, and is currently a distinguished senior fellow at the Mercatus Center at George Mason University. Tom's research has focused on the long-term impact of the politicization of financial services, as well as the effects of government grant privileges on market performance. Tom joins David on Macro Musings to talk about COVID-19, the Fed's response to its economic impact, and the current state of banking in the United States. Transcript for the episode can be found here. Thomas's Twitter: @tom_hoenig Thomas's Mercatus profile: https://www.mercatus.org/scholars/thomas-hoenig Related Links: Bonus segment with Thomas: https://youtu.be/CrA1WRtu0jc David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

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