Lev Menand on the Fed’s Lending Facilities and the Legal Concerns Surrounding Them Macro Musings with David Beckworth

Lev Menand is a legal scholar at Columbia Law School and has previously worked for the New York Fed, the US Treasury Department, and the Financial Stability Oversight Council (FSOC). Lev Joins Macro Musings to talk about his new paper, *Unappropriated Dollars: The Fed’s Ad Hoc Lending Facilities and the Rules that Govern Them*. Specifically, David and Lev discuss opening up public Fed bank accounts, the importance of liquidity and credit facilities, and how Congress is using the CARES Act to skirt the Fed’s current legal mandates.
 
Transcript for the episode can be found here.
 
Lev’s Twitter: @LevMenand
Lev’s Columbia Law profile: https://www.law.columbia.edu/faculty/lev-menand
 
Related Links:
 
Bonus segment with Lev: https://youtu.be/N9qndjjju9A
 
*Unappropriated Dollars: The Fed’s Ad Hoc Lending Facilities and the Rules That Govern Them* by Lev Menand
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3602740
 
*FedAccounts* by Morgan Ricks, John Crawford, and Lev Menand
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3192162
 
David’s blog: macromarketmusings.blogspot.com
David’s Twitter: @DavidBeckworth