Podcasts Business Non-Profit Macro Musings with David Beckworth Lev Menand and Josh Younger on *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon*

Lev Menand and Josh Younger on *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon*

Published: Oct. 2, 2023, 4:30 a.m.

Lev Menand is an associate professor of law at Columbia University and Josh Younger is a senior policy advisor at the Federal Reserve Bank of New York and a lecturer at Columbia Law School. Lev and Josh also recently co-authored a paper titled, *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon.* They are also returning guests to Macro Musings, and rejoin the podcast to talk about this paper and its implications for the Treasury market. Lev, Josh, and David also discuss the transition from bank to market financing, whether an increasing level of debt is leading to more instability, the impact of recent regulations on the primary dealer system, how to restore the balance between public debt and money creation, and a lot more.

\xa0

Transcript for this week\u2019s episode.

\xa0

Register now for the Bennett McCallum Monetary Policy\xa0Conference!

\xa0

Josh\u2019s Columbia Law profile

Lev\u2019s Columbia Law profile

Lev\u2019s Twitter: @LevMenand

\xa0

David Beckworth\u2019s Twitter:\xa0@DavidBeckworth

Follow us on Twitter:\xa0@Macro_Musings

\xa0

Join the Macro Musings mailing list!

Check out our new Macro Musings merch!

\xa0

Related Links:

\xa0

*Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon* by Lev Menand and Josh Younger

\xa0

*The Fed Unbound: Central Banking in a Time of Crisis* by Lev Menand