Episode description

Kaleb Nygaard is a senior research associate at the Yale Program on Financial Stability and runs the website Centralverse, a place where all things central banking are made clear. Kaleb is also a former Chicago Fed staffer. Kaleb joins David on Macro Musings to discuss the governance and institutional details of the Federal Reserve System. Specifically, Kaleb and David get into President Biden’s nominations to the Fed Board of Governors, the nomination process at the Fed, what is driving the short tenures of Fed Governors in recent years, how regional bank presidents get elected, how social media has impacted the problem of groupthink at the Fed, and much more.

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Transcript for the episode can be found here.

Kaleb’s Twitter: @KalebNygaard

Kaleb’s website: https://kalebnygaard.com/

Related Links:

*Restoring the Promise of Federal Reserve Governance* by Peter Conti-Brown

https://www.mercatus.org/publications/monetary-policy/restoring-promise-fed-governance

*Board Diversity Matters: An Empirical Assessment of Community Lending at Federal Reserve-Regulated Banks* by Brian D. Feinstein, Peter Conti-Brown, and Kaleb Nygaard

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4000110

David’s Twitter: @DavidBeckworth

David’s blog: http://macromarketmusings.blogspot.com/