Lukasz Rachel is a former Bank of England economist and currently is an assistant professor of economics at the University College of London. In Lukasz's first appearance on the show he discusses his big career breaks, the implications of secular stagnation in the industrialized world, what is next for R-star, what non-Ricardian macro policy looks like, his policy prescriptions for the US, and much more.

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

Recorded on October 29th, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Lukasz on X: @LukaszRachel

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel

Timestamps

00:00:00 - Intro

00:01:42 - Lukasz's Career

00:07:30 - Secular Stagnation in the Industrialized World

00:21:08 - What Next for R-Star?

00:36:11 - Brothers in Arms: Monetary-Fiscal Interactions

00:49:53 - Policy Recommendations

00:51:03 - Outro

Tara Sinclair is a professor and chair of the economics department at George Washington University. Tara returns to the show to discuss her ambitious paper simulating an FOMC meeting before it happens with LLM models, the process of building sim FOMC members, the importance of publicly funding economic data, the future of AI and macroeconomics, and much more.

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

Recorded on October 27th, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Tara on X: @TaraSinc

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel

Timestamps

00:00:00 - Intro

00:01:44 - Data and Policymaking

00:05:28 - Federal Forecasters Conference

00:08:01 - FOMC in Silico

00:32:56 - Future Applications

00:38:29 - Broader Implications

00:42:57 - Central Bank Governance and AI

00:51:40 - Outro

Bryan Cutsinger is a monetary historian and an assistant professor of economics at Florida Atlantic University. Bryan returns to the show to discuss how we think about deflation, the history of growth driven deflation, the connection between the postbellum period and today, the potential of rapid productivity growth from AI, and much more.

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

Recorded on September 23rd, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Bryan on X: @BryanPCutsinger

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel

Timestamps

00:00:00 - Intro

00:04:41 - Rethinking Deflation

00:35:48 - Rapid Productivity Growth from AI

00:46:35 - Tolerating Deflation

00:55:28 - Outro