Richard Berner is the former director of the Office of Financial Research and was a counselor of the Treasury Secretary. In Richard's first appearance on the show, he discusses a career that included public service and Wall Street, the fragility of global liquidity, the implications of fiscal dominance, the expansion of private credit, the 2023 SVB banking turmoil, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on January 7th, 2025

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Timestamps

00:00:00 - Intro

00:01:57- Dick's Career

00:07:46 - Fragility of Global Liquidity

00:17:29 - Post-GFC Regulations

00:25:29 - Fiscal Dominance

00:36:23 - Private Credit

00:48:09 - Banking Turmoil of 2023

01:01:149 - Outro

Aaron Klein is a senior fellow in economic studies at the Brookings Institution. Aaron returns to the show to discuss his paper with George Selgin calling for real time payments, the inequality caused by the Fed's current payment processes, the results of Covid time QE, recommendations for dealing with future crises, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on December 11th, 2025

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Timestamps

00:00:00 - Intro

00:01:06- Faster Payments

00:29:09 - Fed Governance

00:30:35 - Quantitative Easing and Housing Inflation Post-COVID

00:52:16 - Fed Assets

01:01:149 - Outro

Per Åsberg Sommar is a senior advisor in the markets department at the Swedish central bank. In Per's first appearance on the show, he discusses his career as a central banker, the history of the Riksbank, evolutions in inflation targeting at the Riksbank, changes in the Sweden's central banks operating system, its new tool called the Deposit Requirement Facility, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on December 12th, 2025

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Timestamps

00:00:00 - Intro

00:02:08 - Per's Career

00:04:02 - Riksbank

00:09:07 - Inflation Targeting at Riksbank

00:11:56 - Riksbank's Operating System

00:15:39 - Certificate of Deposits

00:33:42 - Quantitative Tightening

00:36:42 - The Deposit Requirement Facility

00:45:38 - Other Central Banks and Demand-Driven Systems

00:58:16 - Outro