Bill Nelson on the Feds Operating System, Standing Repo Facility Stigma, and the Future of the Central Banks Balance Sheet

Published: March 14, 2022, 4:30 a.m.

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Bill Nelson is a chief economist and an executive vice president at the Bank Policy Institute. Bill was previously a deputy director of the Division of Monetary Affairs at the Federal Reserve Board, where his responsibilities included monetary policy analysis, discount window policy analysis, and the analysis and financial institution supervision. He also worked closely with the BIS working groups on the design of liquidity regulations. Bill is also a previous guest of the podcast, are rejoins Macro Musings to talk about the outlook for US monetary policy, the future of the Fed\\u2019s balance sheet, and its implications for the Fed\\u2019s operating system and bank regulations. David and Bill also discuss the Fed\\u2019s response to current macroeconomic events, the stigma surround the standing repo facility, and how to think about exogenous risks to the US banking system.\\xa0 \\xa0

Check out Conversations with Tyler: https://conversationswithtyler.com, and subscribe to Conversations with Tyler on your favorite podcast app.

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Transcript for the episode can be found here.

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Bill\\u2019s Bank Policy Institute profile: https://bpi.com/people/bill-nelson/

Bill\\u2019s American Banker archive: https://www.americanbanker.com/author/william-nelson-ab3618

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Related Links:

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*The Fed is Stuck on the Floor: Here\\u2019s How It Can Get Up* by Bill Nelson

https://bpi.com/the-fed-is-stuck-on-the-floor-heres-how-it-can-get-up/

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*More Taxis Sitting Idle* by Bill Nelson

https://bpi.com/more-taxis-sitting-idle/

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*Systematic Monetary Policy and the Effects of Oil Price Shocks* by Ben Bernanke, Mark Gertler, and Mark Watson

https://www.brookings.edu/wp-content/uploads/1997/01/1997a_bpea_bernanke_gertler_watson_sims_friedman.pdf

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David\\u2019s Twitter: @DavidBeckworth

David\\u2019s blog: http://macromarketmusings.blogspot.com/

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