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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.

Jun 15, 2020

Darrell Duffie is a professor of finance at Stanford University, and he joins Macro Musings to discuss the treasury market problems that emerged in March 2020 and what can be done to avoid them in the future. Specifically, Darrell and David lay out the current state of financial markets, the ability of treasury markets, as currently designed, to handle demand shocks, and how central banking reforms can better ensure financial stability in the future.


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Transcript for the episode can be found here.


Darrell’s Twitter: @DuffieDarrell

Darrell’s website:

Darrell’s Stanford profile:


Related Links:


Bonus segment with Darrell:


*Pass-through Efficiency in the Fed’s New Monetary Policy Setting* by Darrell Duffie and Arvind Krishnamurthy


*The Failure Mechanics of Dealer Banks* by Darrell Duffie


*Still the World’s Safe Haven? Redesigning the U.S. Treasury Market after the COVID-19 Crisis* by Darrell Duffie


David’s blog:
David’s Twitter: @DavidBeckworth