Richmond Fed Interview

The Richmond Fed published a long interview with me in their Econ Focus, shorter pdf (print) version here and longer web version here. Some of the questions:
  • Does the 2010 Dodd-Frank regulatory reform act meaningfully address runs on shadow banking?
  • So what do you think is the most promising way to meaningfully end "too big to fail"?
  • Do you think there's any reason to believe recessions following financial crises should necessarily be longer and more severe, as Carmen Reinhart and Kenneth Rogoff have famously suggested?
  • Many people have asked whether the finance industry has gotten too big. How should we think about that?
  • What are your thoughts on quantitative easing (QE) — the Fed's massive purchases of Treasuries and other assets to push down long-term interest rates — both on its effectiveness and on the fear that it's going to lead to hyperinflation?
  • Both fiscal and monetary policies have been on extreme courses recently. What are your thoughts on how they might affect each other as they move back to normal levels?
  • Switching gears to finance specifically, what do you think are some of the big unanswered questions for research?
  • You wrote an op-ed on an "alternative maximum tax." What’s the idea there?
  • Can transfers really help the bottom half of the income distribution?
  • Which economists have influenced you the most?
You'll have to click to the interview for answers!

Thanks to Aaron Steelman, Lisa Kenney and especially  Renee Haltom, who helped a lot with the editing. I'm a lot less coherent in person!

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