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Scott Sumner is David\\u2019s colleague and the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center. Scott is also a returning guest to the podcast and joins David on Macro Musings to discuss his new book, The Money Illusion: Market Monetarism, the Great Recession, and the Future of Monetary Policy. Specifically, David and Scott discuss common misconceptions about the 2008-09 Recession, why bubble narratives too often miss the mark when explaining rising asset prices, whether the Fed\\u2019s adoption of average inflation targeting signals that it is moving toward a level target, and much more.

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Transcript for the episode can be found here.

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Scott\\u2019s Twitter: @ScottSumnerTMI

Scott\\u2019s blog: https://www.themoneyillusion.com/

Scott\\u2019s Mercatus profile: https://www.mercatus.org/scholars/scott-sumner

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Related Links:

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*The Money Illusion: Market Monetarism, the Great Recession, and the Future of Monetary Policy*

By Scott Sumner

https://www.mercatus.org/publications/monetary-policy/money-illusion-market-monetarism-great-recession-and-future-monetary

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*Eight Centuries of Global Real Interest Rates, R-G, and the \\u2018Suprasecular\\u2019 Decline, 1311\\u20132018* by Paul Schmelzing

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3485734

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David\\u2019s blog: macromarketmusings.blogspot.com
David\\u2019s Twitter: @DavidBeckworth