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Hosted by David Beckworth of the Mercatus Center, Macro Musings is a podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Feb 10, 2025

Pat Toomey is a former senator from the state of Pennsylvania and served on the Committee on Banking, Housing, and Urban Affairs. In Pat’s first appearance on the show he discussed his career in public service, Fed master accounts, the future on monetary policy, his quest for Fed accountability, the looming debt issue, and much more.

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

Recorded on January 23rd, 2025

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Timestamps:

(00:00:00) – Intro

(00:01:09) – Senator Toomey’s Committee Work

(00:21:21) – Federal Reserve Master Accounts

(00:27:07) – Accountability of the Fed

(00:30:07) – Monetary Policy

(00:45:19) – Debts, Deficits, and Fiscal Policy

(00:57:22) – Outro