Macro Musings

Joseph Gagnon is a senior fellow at the Peterson Institute for International Economics and formerly, a senior staffer at the Federal Reserve Board of Governors. Joseph is also a returning guest to Macro Musings, and he joins the show today to discuss his recent policy brief titled, “Are Central Banks Out of Ammunition to Fight a Recession? Not quite.” Specifically, David and Joseph discuss the variety of monetary policy tools available to central banks to combat the next recession (with special emphasis on the Federal Reserve, European Central Bank, and Bank of Japan). Joseph also makes the case that the ECB should adopt a formal review of its monetary policy framework.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/01242020/joseph-gagnon-central-banks%E2%80%99-ability-fight-next-recession   Joseph’s Twitter: @GagnonMacro Joseph’s PIIE profile: https://www.piie.com/experts/senior-research-staff/joseph-e-gagnon   Related Links:   *Are Central Banks Out of Ammunition to Fight a Recessi