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Jeffrey Rogers Hummel is a professor of economics at San Jose State University and writes on macroeconomics and economic history. Today, Jeff joins the show to discuss his work on the Fed\u2019s interventions during the Great Recession. He also dispels some myths about the extent to which the Fed really influences interest rates. Finally, he explains why he believes that cash plays an important role in society and why recent proposals to abolish cash are misguided. David\u2019s blog: macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David\u2019s Twitter: @DavidBeckworth Jeff Hummel\u2019s San Jose State University profile: http://www.sjsu.edu/economics/faculty/jeff.hummel.html Related links: \u201cCentral Bank Control over Interest Rates: The Myth and the Reality\u201d by Jeffery Rogers Hummel https://www.mercatus.org/publications/central-bank-control-interest-rates \u201cBen Bernanke vs. Milton Friedman: The Federal Reserve\u2019s Emergence as the U.S. Economy\u2019s Central Planner\u201d by Jeffrey Rogers Hummel http://www.independent.org/publications/tir/article.asp?a=824 \u201cThe War on Cash: A Review of Kenneth Rogoff\u2019s *The Curse of Cash*\u201d by Jeffrey Rogers Hummel https://econjwatch.org/articles/the-war-on-cash-a-review-of-kenneth-rogoff-s-the-curse-of-cash