David Andolfatto on a Standing Repo Facility, Safe Asset Shortage, and the Fed's Low Inflation Problem

David Andolfatto is a vice president of the St. Louis Federal Reserve Bank and is published widely in the field of monetary economics. He also blogs at MacroMania, and has recently published on issues such as the zero lower bound, the symmetry of the Fed's inflation target, a new standing repo facility, and MMT. David is a returning guest to Macro Musings, and he joins the show today to talk about these issues.  David and David also discuss the safe asset shortage, average and flexible inflation targeting, and the legal, political, and economic restraint surrounding negative interest rates.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/05062019/safe-assets-symmetric-inflation-and-mmt   David Andolfatto's Twitter: @dandolfa David Andolfatto's blog: http://andolfatto.blogspot.com/   Related Links:   *Is Low Inflation Really a Mystery?* by David Beckworth https://macromarketmusings.blogspot.com/2019/04/is-low-inflation-really-mystery.html   *Why the Fed Should Create a Standing Repo Facility* by David Andolfatto and Jane Ihrig https://www.stlouisfed.org/on-the-economy/2019/march/why-fed-create-standing-repo-facility   David Beckworth's blog: macromarketmusings.blogspot.com David Beckworth's Twitter: @DavidBeckworth   Disclaimer: Anything that David Andolfatto says reflects his own personal views and not the views of the Federal Reserve.