Uploaded October 2025 | Updated September 2026, 2 weeks ago
Jim Clouse is a veteran of the Federal Reserve System and is currently a fellow at the Andersen Institute. In Jim's first appearance on the show, he discusses the evolution of monetary rules at the Fed, what happened at the Fed during Y2K, 9/11, the Great Financial Crisis, and the COVID Pandemic, the ever changing stigma of the discount window, Ted Cruz's calls to end interest on reserves, and much more.
Check out the transcript (mercatus.org/macro-musings/jim-clouse-last-4-decades-most-powerful-central-bank-world) for this week's episode, now with links.
Recorded on September 11th, 2025
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Timestamps
00:00:00 - Intro
00:03:16 - Jim's Career
00:05:38 - Monetary Rules at the Fed
00:09:12 - Increasing Transparency at the Fed
00:17:25 - Y2K and the Fed
00:26:19 - Discount Window
00:32:21 - Global Financial Crisis
00:39:10 - Covid Pandemic
00:46:10 - Jim's Current Research
01:00:31 - Outro
Jim Clouse is a veteran of the Federal Reserve System and is currently a fellow at the Andersen Institute. In Jim's first appearance on the show, he discusses the evolution of monetary rules at the Fed, what happened at the Fed during Y2K, 9/11, the Great Financial Crisis, and the COVID Pandemic, the ever changing stigma of the discount window, Ted Cruz's calls to end interest on reserves, and much more.
Check out the transcript (mercatus.org/macro-musings/jim-clouse-last-4-decades-most-powerful-central-bank-world) for this week's episode, now with links.
Recorded on September 11th, 2025
Subscribe to David's Substack: Macroeconomic Policy Nexus (macroeconomicpolicynexus.substack.com/)
Follow David Beckworth on X: @DavidBeckworth (twitter.com/DavidBeckworth)
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
00:03:16 - Jim's Career
00:05:38 - Monetary Rules at the Fed
00:09:12 - Increasing Transparency at the Fed
00:17:25 - Y2K and the Fed
00:26:19 - Discount Window
00:32:21 - Global Financial Crisis
00:39:10 - Covid Pandemic
00:46:10 - Jim's Current Research
01:00:31 - Outro
