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    Artwork for Macro Musings with David Beckworth
    Episode

    Bill Nelson on Shrinking the Fed's Balance Sheet and Reviving Interbank Markets

    Macro Musings with David Beckworth · Aug 17, 2026 · 55 min
    Episode page

    Bill Nelson is chief research officer and chief economist at the Bank Policy Institute and a former deputy director of the Division of Monetary Affairs at the Federal Reserve Board. In Bill's 11th appearance on the show, he discusses how central banks are rethinking their operating systems, the case for a smaller Fed balance sheet and more routine discount window borrowing, the revival of…

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