Uploaded January 2026 | Updated September 2026, 2 weeks ago

---

Aaron Klein is a senior fellow in economic studies at the Brookings Institution. Aaron returns to the show to discuss his paper with George Selgin calling for real time payments, the inequality caused by the Fed's current payment processes, the results of Covid time QE, recommendations for dealing with future crises, and much more.


Check out the transcript (mercatus.org/macro-musings/aaron-klein-uss-real-time-payments-problem-and-impact-covid-era-quantitative-easing) for this week's episode, now with links.


Recorded on December 11th, 2025


Subscribe to David's Substack: Macroeconomic Policy Nexus (macroeconomicpolicynexus.substack.com/)


Follow David Beckworth on X: @DavidBeckworth (twitter.com/DavidBeckworth)


Follow Aaron Klein on X: @AarondKlein (https://x.com/Aarondklein)


Follow the show on X: @Macro_Musings (twitter.com/Macro_Musings)


Check out our Macro Musings merch! (bonfire.com/store/mercatus-podcast-swag/)


Subscribe (youtube.com/@BeckworthDavid) to David's new BTS YouTube Channel


Timestamps


00:00:00 - Intro


00:01:06- Faster Payments


00:29:09 - Fed Governance


00:30:35 - Quantitative Easing and Housing Inflation Post-COVID


00:52:16 - Fed Assets


01:01:149 - Outro