Episodes HN recommended
George Selgin on Inflation, Fintechs, and Broadening Access to Fed Master Accounts
May 24, 2021 • 56 min
Recent episodes
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Aug 17, 2026 • 55 minBarry Eichengreen, Paul Blustein, and Brendan Greeley on Dollar Dominance
Aug 3, 2026 • 59 minDavid Wessel on the Fed's Current Inflection Point
Jul 27, 2026 • 56 minSam Lyman on the Digital Payments Race Between the US and China
Jul 20, 2026 • 58 minStephan Luck on What History can Teach Us about Financial Stability
Jul 13, 2026 • 58 minBarry Eichengreen on the History of Global Currencies
Jul 6, 2026 • 57 minYesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins
Jun 29, 2026 • 1 h 12 minJeffrey Lacker on What a New Fed Treasury Accord Might Look Like
Jun 22, 2026 • 57 minNik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft
Jun 15, 2026 • 59 minBryan Cutsinger, Peter Ireland, and Will Luther on Lessons Learned from the Fed Framework Review
Jun 8, 2026 • 1 h 04 minBrendan Greeley on the 500 Year History of the Dollar
Jun 1, 2026 • 1 h 03 minDavid Zaring on Skinny Charters and the Future of Banking
May 25, 2026 • 56 minBill Beach on the Future of United States' Economic Statistics and Fiscal Position
May 18, 2026 • 53 minTyler Goodspeed on Challenging the Way Economists Look at Recessions
May 11, 2026 • 1 h 01 minPeter Conti-Brown and David Beckworth on All Things Financial Regulation
May 4, 2026 • 55 minBasil Halperin on Macroeconomic Policy in an Age of Transformative AI
Apr 27, 2026 • 56 minRich Clarida on Navigating Monetary Policy in Choppy Waters
Apr 20, 2026 • 52 minKris Mitchener on What Actually Anchors the Price Level
Apr 13, 2026 • 56 min
What HN said
- jganetskMar 2020Reserve requirements never really limited the ability of banks to create money. Canada hasn't had reserve requirements for >20 years. Neither does the UK, New Zealand, Australia, Sweden and Hong Kong. But all banks are indeed subject to capital requirements, and that does limit money creation
Anyway, reserve requirements are generally not effective, including in the USA. Much has been written about this. Banks are usually not reserve constrained (especially post QE), there are many ways to game reserve requirements, there are many ways to get reserves when you need them, and central banks increase reserves systematically when they are in demand via interest rate mechanisms.
[1] https://en.wikipedia.org/wiki/Reserve_requirement#Countries_... [2] https://en.wikipedia.org/wiki/Basel_III [3] http://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me_... [4] http://bilbo.economicoutlook.net/blog/?p=9075 [5] http://macromusings.libsyn.com/marc-lavoie-on-canadian-centr...
- lifeisstillgoodFeb 2021Very roughly :
US GNP $21 Trillion China $14 Trillion
Using PPP US $21 Tn (obv) China $28 Tn (!!!)
China can buy more stuff from itself each year than US. It just cannot buy the most sophisticated stuff yet.
This is presumably why the report puts "reshoring" and building out 21C manufacturing top of its priority list.
source:https://podcasts.apple.com/gb/podcast/macro-musings-with-dav... (worth listening too !)
- __derek__Aug 2022Adding onto this, the Fed has proposed opening up Fed Master Accounts to non-bank fintechs (e.g., PayPal/Venmo). That would allow them to improve their own services by moving off of ACH.
For those interested in the Fed Master Accounts topic, I recommend this Macro Musings podcast episode with George Selgin.[1]
[1]: https://macromusings.libsyn.com/george-selgin-on-inflation-f...
- bachmeierMay 2022The best (as in not trying to sell you something, not pushing a political agenda, and not a bunch of weird conspiratorial philosophy) source for what you are after is listening to this podcast: https://macromusings.libsyn.com/ If you want to learn more about something you hear there, dig deeper.