David Beckworth is a monetary economist with the Mercatus Center. He explains the rationale of the Market Monetarists (such as Scott Sumner) who support NGDP targeting as the best monetary policy. He also explains recent innovations in Fed policy, and critiques the MMTers. Mentioned in the Episode and Other Links of Interest: The https://youtu.be/GIUp-bI1mIM (YouTube version) of this interview. David Beckworth's https://www.davidbeckworth.com/ (homepage) and podcast, https://www.mercatus.org/bridge/tags/macro-musings (Macro Musings). David Beckworth's book https://www.amazon.com/gp/product/B009K910TW/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=B009K910TW&linkId=11c62c851ab963511a1ea89c5fa7fb05 (Boom and Bust Banking). #Commissions Earned (As an Amazon Associate I earn from qualifying purchases.) George Selgin's monograph https://www.cato.org/working-paper/floored (Floored!) and book https://www.amazon.com/gp/product/1948647109/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=1948647109&linkId=a954caf70e0ebd0c17dfc207da0afc50 (Less Than Zero). #Commissions Earned Beckworth's analysis of the https://www.mercatus.org/publications/monetary-policy/measuring-monetary-policy-ngdp-gap (NGDP gap), average https://www.mercatus.org/bridge/commentary/new-way-manage-inflation (inflation targeting), NGDPLT as https://www.nationalreview.com/2020/07/federal-reserve-coronavirus-crisis-highlights-central-banks-limited-ability-to-respond-economic-disasters/ (ideal policy), and http://macromarketmusings.blogspot.com/2020/08/a-twitter-thread-on-interest-rate.html (critique of MMT). http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show.

The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).