Podcasts Business Non-Profit Macro Musings with David Beckworth Steven Kelly on Crises, Stability, and the Feds Role in Financial Markets

Steven Kelly on Crises, Stability, and the Feds Role in Financial Markets

Published: Sept. 19, 2022, 4:30 a.m.

Steven Kelly is a senior research associate at the Yale Program on Financial Stability. Steven joins David on Macro Musings to discuss his work on financial stability and the role the Federal Reserve plays in it. Specifically, David and Steven discuss the Fed\u2019s evolving role in niche financial markets such as commodities and derivatives markets, what Section 13.3 of the Federal Reserve Act says about the Fed\u2019s basis to engage in financial markets, proposals to improve the Fed\u2019s Standing Repo Facility (SRF), the future of stablecoins and central bank digital currencies (CBDCs) in financial markets, and much more.

Transcript for the episode can be found here.

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Steven\u2019s Twitter: @StevenKelly49

Steven\u2019s Substack: Without Warning

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David\u2019s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

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Related Links:

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The Reserve (podcast) hosted by Kaleb Nygaard

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New Bagehot Project, Yale Program on Financial Stability (YPFS)

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\u201cThe Fed As Derivatives Dealer of Last Resort?\u201d by Steven Kelly

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\u201cCould the Fed Rescue Commodities Markets?\u201d by Steven Kelly

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\u201cImproving the Standing Repo Facility\u201d by Steven Kelly

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\u201cUnappropriated Dollars: The Fed's Ad Hoc Lending Facilities and the Rules that Govern Them\u201d by Lev Menand

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

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\u201cLarry Ball on the Lehman Brothers Collapse and Its Role in the Great Recession\u201d, Macro Musings podcast episode (2018)