Bill Nelson on the Repo Market Stress, the Fed's Operating System, and the Prospects for a Standing Repo Facility


Manage episode 243905850 series 166390
By David Beckworth and Mercatus Center at George Mason University. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Bill Nelson is a chief economist at the Bank Policy Institute and was previously a deputy director of the Division of Monetary Affairs at the Federal Reserve Board, where his responsibilities included monetary policy analysis, discount window policy analysis, and financial institution supervision. Bill has written widely on the Fed’s operating system, and he joins the show today to talk about it, as well as the recent turmoil in money markets. David and Bill also discuss the possibility of the Fed moving back to a corridor system, the stigma surrounding banks using the discount window, and the story of recent supply and demand dislocation in repo markets.

Transcript for the episode:

Related Links:

Link to supply and demand curves mentioned in the episode:

*Two Little-Noticed and Self-Inflicted Causes of the Fed’s Current Monetary Policy Implementation Predicament* by Bill Nelson

*Fed at a Crossroads* by Bill Nelson

*Bank Regulations and Turmoil in Repo Markets* by Francisco Covas & Bill Nelson

*What Just Happened in Money Markets, and Why it Matters* by Bill Nelson

*Impending Money Market Volatility Prompts Warning Light for LCR Tune-Up* by Bill Nelson & Brett Waxman

*Design Challenges for a Standing Repo Facility* by Bill Nelson

*A Former Fed Insider Explains the Internal Debate over QE3* by Bill Nelson

*Get Up Off The Floor* By Bill Nelson

*FOMC Go Home* by Bill Nelson

*Understanding the Fed’s Implementation Framework Debate* by Bill Nelson’s_implementation_framework_debate_Review05.pdf

David’s blog: David’s Twitter: @DavidBeckworth

304 episodes