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Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star
Episode 509
Marc Giannoni is a managing director and the chief US economist at Barclays Capital. In Marc’s first appearance on the show he discusses working on the 2020 Fed Framework Review, the troubling issues of Fed independence and fiscal dominance, the future of long rates and r-star, his influential 2006 paper about what good monetary policy looks like, and much more.
Check out the transcript for this week’s episode, now with links.
Recorded on August 28th, 2025
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Timestamps
00:00:00 - Intro
00:01:35 - Marc’s Career
00:6:41 - Fed’s Framework Review
00:20:46 - Fed Independence
00:27:12 - Long-Term Rates
00:43:39 - Has Monetary Policy Become More Effective?
00:55:48 - Outro
Published on 9 hours ago