Catherine Pakaluk is an Associate Professor of Social Research and Economic Thought at the Bush School of Business at the Catholic University of America. Catherine is also the author of a new book titled, *Hannah’s Children: The Women Quietly Defying the Birth Dearth,* and she joins David on Macro Musings to talk about it. Catherine and David also specifically discuss the facts of demographic decline, the women who are pushing back against this trend, its broader implications for the economy and society, and more.

Transcript for this week’s episode.

Catherine’s Twitter: @CRPakaluk

Catherine’s website

Catherine’s CUA profile

David Beckworth’s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

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Related Links:

*Hannah’s Children: The Women Quietly Defying the Birth Dearth* by Catherine Pakaluk

*Why Americans Aren’t Having Babies* by Rachel Wolfe

*No One Left: Why the World Needs More Children* by Paul Morland

*Promises I Can Keep: Why Poor Women Put Motherhood Before Marriage* by Kathryn Edin and Maria Kefalas

Timestamps:

(00:00:00) – Intro

(00:03:16) – *Hannah’s Children: The Women Quietly Defying the Birth Dearth*

(00:08:30) – The Facts of Demographic Decline

(00:12:48) – The Implications of Demographic Decline

(00:20:28) – Breaking Down the “Chain of Infinity”

(00:23:15) – The Forces Driving Demographic Decline

(00:32:18) – The Influence and Impact of Paul Ehrlich

(00:38:16) – The Motivation and Background for *Hannah’s Children*

(00:43:29) – Why Are Women Having Larger Families?

(00:52:18) – Exploring Pronatal Policy Recommendations

(00:57:03) – Outro

Stephen Miran is a former senior advisor to the US Treasury Department, a senior strategist at Hudson Bay Capital, and a fellow at the Manhattan Institute. Stephen is also a returning guest to the podcast, and he rejoins David on Macro Musings to talk about his recent paper with Nouriel Roubini titled, *Activist Treasury Issuance and the Tug-of-War Over Monetary Policy,* as well as his thoughts on what a second Trump presidential term would mean for the Fed and financial markets.

Transcript for this week’s episode.

Stephen’s Twitter: @SteveMiran

Stephen’s Manhattan Institute profile

David Beckworth’s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

Join the Macro Musings mailing list!

Check out our Macro Musings merch!

Related Links:

*ATI: Activist Treasury Issuance and the Tug-of-War Over Monetary Policy* by Stephen Miran and Nouriel Roubini

*Trump Wants a Weaker Dollar But Wall Street Doubts He’ll Get One* by Saleha Mohsin and Carter Johnson

*Trump Allies Draw Up Plans to Blunt Fed’s Independence* by Andrew Restuccia, Nick Timiraos, and Alex Leary

Timestamps:

(00:00:00) – Intro

(00:01:49) – Breaking Down *Activist Treasury Issuance and the Tug-of-War Over Monetary Policy*

(00:21:33) – Responding to Criticism from Janet Yellen and Others

(00:28:21) – Addressing Trump’s Push for a Weaker Dollar

(00:38:24) – Can We Weaken the Dollar While Still Ensuring Its Use?

(00:43:07) – What a Second Trump Term Would Mean for Fed Independence and Crypto

(00:49:19) – Outro

Carola Binder is an associate professor of civic leadership and economics at the University of Texas at Austin, and she is the author of a new book titled, *Shock Values: Prices and Inflation in American Democracy.* Carola is also a returning guest to the podcast, and she rejoins David on Macro Musings to talk about this book and some recent work she has done on the Fed’s framework review. David and Carola specifically discuss the history of inflation in the US, the advantages of adopting a nominal GDP targeting regime, what to expect from the Fed’s upcoming framework review, and more.

Transcript for this week’s episode.

Carola’s Twitter: @cconces

Carola’s website

David Beckworth’s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

Join the Macro Musings mailing list!

Check out our Macro Musings merch!

Related Links:

*Shock Values: Prices and Inflation in American Democracy* by Carola Binder

*Why Do We Dislike Inflation?* by Stefanie Stantcheva

Timestamps:

(00:00:00) – Intro

(00:03:42) – *Nominal GDP Targeting: Lessons from Recent History*

(00:12:18) – NGDP Level Targeting: Looking Through Supply Shocks and Policy Communication

(00:17:16) – *Shock Values: Prices and Inflation in American Democracy*

(00:21:44) – The History of Inflation and Deflation in the US

(00:30:30) – Key Lessons from the Revolutionary War and Civil War Periods

(00:35:37) – The Impact of Price Controls During World War II

(00:40:42) – The Emergence of Price Stability: From the Great Inflation Period to the Present

(00:46:24) – The Direction of the Fed’s Framework Review

(00:49:22) – Outro