Episode
Stephan Luck on What History can Teach Us about Financial Stability
Macro Musings with David Beckworth · Jul 13, 2026 · 58 min
Stephan Luck is a Financial Research Advisor at the Federal Reserve Bank of New York. In Stephan's first appearance on the show, he discusses how the 2008 Great Financial Crisis shaped his career, how he and his coauthors leverage LLMs to comb through massive amounts of historical data, what this data can teach us about responding to bank failures, what people get wrong when they try and make…