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In this episode, Ritik Goyal joins Adam, Ryan, and Douglas to discuss:
- Ritik's journey from working at Bridgewater to co-founding "The Monetary Frontier" on Substack
- How Ritik was drawn to MMT as a framework that accurately describes economic flows and policy impacts, especially in the context of austerity politics.
- Ritik's nuanced view on MMT, particularly questioning the idea of a zero neutral interest rate and its effect on the availability of safe assets like treasuries.
- The historical relationship between interest rates, inflation, and the Federal Reserve's role, suggesting that the Fed's influence is more psychological than direct.
- The primary role of fiscal policy over monetary policy in economic outcomes, challenging conventional views on the Fed's effectiveness.
- Analysis of current market trends, the potential impact of Fed rate cuts, and the risks of a self-reinforcing economic slowdown.
- The effectiveness of asset price inflation as a stimulus for the broader economy, highlighting the importance of safe assets in economic stability.
- The importance of understanding economic mechanics and the role of MMT in shaping economic discourse, emphasizing the need for a more nuanced understanding of fiscal and monetary interactions.
"The Fed Does Not Exist" by Ritik Goyal
AppliedMMT.com
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Douglas (@MMTmacrotrader) on Twitter
Disclaimer: The content of this podcast is for informational purposes only and should not be construed as financial or investment advice. The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any associated employers or organizations. Listeners should consider their financial circumstances and consult with a professional advisor before making any investment decisions
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