{"podcast":{"title":"Macro Musings with David Beckworth","slug":"macro-musings-with-david-beckworth-574582","podcast_index_feed_id":574582,"rss_url":"https://macromusings.libsyn.com/rss","website_url":"https://macroeconomicpolicynexus.substack.com/","image_url":"https://static.libsyn.com/p/assets/5/6/4/8/5648d73583b24c6ed959afa2a1bf1c87/MM_Podcast_Cover_Art_Update_V02_3000x3000.png","author":"David Beckworth","episode_count":567,"summary":"Hosted by David Beckworth of the Mercatus Center, Macro Musings pulls back the curtain on the important macroeconomic issues of the past, present, and future.","last_synced_at":"2026-09-14T10:22:48.233398+00:00","page_url":"https://stenobird.com/podcast/macro-musings-with-david-beckworth-574582"},"episode":{"title":"Bill Nelson on the Future of the Fed's Balance Sheet","slug":"bill-nelson-on-the-future-of-the-fed-s-balance-sheet","published_at":"2026-03-23T11:00:00+00:00","page_url":"https://stenobird.com/podcast/macro-musings-with-david-beckworth-574582/bill-nelson-on-the-future-of-the-fed-s-balance-sheet","show_page_url":"https://stenobird.com/podcast/macro-musings-with-david-beckworth-574582","url":"https://macromusings.libsyn.com/bill-nelson-on-the-future-of-the-feds-balance-sheet","audio_url":"https://traffic.libsyn.com/secure/macromusings/MM-535-BillNelson-Audio-Final.mp3?dest-id=865793","summary":"Bill Nelson is a chief research officer and chief economist at the Bank Policy Institute. In Bill's 10 th appearance on the show he discusses his infamous email list, the ratchet effect from QE, his congressional testimony, the BPI's Bank Treasurers Survey, how he thinks the Fed should shrink the balance sheet, whether the Fed is profitable, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on March 3rd, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:02:00 - Quantitative Easing Ratchet Effect 00:16:31 - Bill's Congressional Testimony 00:31:12 - BPI's Bank Treasurers Survey 00:37:37 - How To Shrink the Balance Sheet 00:48:44 - The Fed's Profits 00:54:50 - Outro","meta_description":"Bill Nelson is a chief research officer and chief economist at the Bank Policy Institute. In Bill's 10 th appearance on the show he discusses his infamous…","key_points":[],"chapters":[],"topics":[],"duration_seconds":3332,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/macro-musings-with-david-beckworth-574582/episodes/bill-nelson-on-the-future-of-the-fed-s-balance-sheet/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/macro-musings-with-david-beckworth-574582/bill-nelson-on-the-future-of-the-fed-s-balance-sheet.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}