David Beckworth
@DavidBeckworth
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Senior Research Fellow @mercatus || Podcast Host at https://t.co/gGaA18fTY2 || Former U.S. Treasury Economist || Micah 6:8
DC, Nashville
Joined January 2012
Given the framework review conference, here is a live shot of me considering counterfactual worlds of monetary policy frameworks. You may be surprised where I land! @RaphaelBostic @Austan_Goolsbee @MaryDalyEcon @neelkashkari @annap_2013 @dandolfa @GeorgeSelgin (1/4)
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Okay, the one silver lining to this fiscal disaster of a bill.
100% bonus depreciation and R&D expensing are permanent US tax policy!.
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"This bill will be the most expensive reconciliation bill in history, adding $4.1 trillion to the national debt through 2034. If its temporary provisions are extended permanently, that total would rise to $5.5 trillion. Under the bill as written, the national debt would rise from.
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RT @mercatus: From program associate to a PhD scholar in 8 years! ๐. Starting in the monetary policy program under Scott Sumner (@MoneyIlluโฆ.
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RT @VARshad_: New @AndersenInst Note: "When financial regulation becomes financial repression" (link below). We take a macro view on the inโฆ.
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RT @GeorgeSelgin: Iโve been a critic of the Fedโs post-2008 IOR-based โfloorโ operating system as long as anyone. But IOR is no more a tranโฆ.
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My latest Substack post builds off this week's podcast by looking at data that show households still worried about inflation. Here is one example. Full note here:
This weekโs Macro Musings episode w/ Mark Blyth (@MkBlyth) dives into the politics of inflation, but @DavidBeckworth's latest post goes even deeper. From fragile inflation expectations to policy implications, this write-up is the perfect companion to the episode. ๐. ๐ข Read.
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Delighted to have @MkBlyth join me on the podcast this week to discuss his new book, ๐ฐ๐๐๐๐๐๐๐๐: ๐ ๐ฎ๐๐๐
๐ ๐๐๐ ๐ณ๐๐๐๐๐ ๐๐๐
๐ผ๐๐๐๐. We had a great conversation on the political economy of inflation and the challenges that lie ahead for policymakers. We
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RT @DavidBeckworth: Is Milton Friedmanโs famous quip that โinflation is always and everywhere a monetary phenomenonโ the last word on whatโฆ.
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RT @Pat_Horan92: I'm now off to join @BeachWW453 in a new venture, The Fiscal Lab on Capitol Hill! More to come, but here is a sneak peek 3โฆ.
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Trump's biggest impact on dollar dominance will not be the challenges created by his trade war, but the opportunities created by his push for dollar stablecoins. Great thread on the latter โฌ๏ธ.
๐งต1/ I wonder how many people realise that what's really going on with stablecoins is a massive US statecraft play to re-dollarize the world on its own terms. You could even call it a "re-stablization op" (yep - there's a gag in there).
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As I was saying.
WHITE HOUSE SAYS TRUMP SENT HANDWRITTEN NOTE TO FED CHAIR POWELL.
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What OBBB means for Fed watchers:
@George_A_Callas @ernietedeschi Of course. It does set up massive fiscal cliff. Next prez will have incentives to extend the cuts, bail on whatever spending cuts they can, and ditch some of the tariffs. Would probably mean deficits in the 8%+ GDP range.
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RT @George_A_Callas: Where we started: deficits = 6-7% of GDP. Sec Bessentโs original proposal: deficits = 3% of GDP. Where OBBB is takingโฆ.
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RT @ernietedeschi: It's simply uncredible that the economic policies they're looking at add 0.7-1.0pp of real growth **each year** over 10โฆ.
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