{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Scott Sumner on How Central Banks Should Respond to the Coronavirus Threat","description":"Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University, and a returning guest to Macro Musings. Scott joins the show today to talk about the recent market turmoil caused by the COVID-19 coronavirus and its implications for monetary policy.  David and Scott also discuss how the Fed should respond to a possible pandemic, why monetary policy is preferable to fiscal policy during a crisis, and how to approach the central bank credibility problem.   Transcript for the episode can be found here: https:\/\/www.mercatus.org\/bridge\/tags\/macro-musings   Scott\u2019s blog: https:\/\/www.themoneyillusion.com\/ Scott\u2019s Mercatus profile: https:\/\/www.mercatus.org\/scholars\/scott-sumner   Related Links:   *It\u2019s Time for the Fed to Take On the Coronavirus Threat* by David Beckworth https:\/\/www.nationalreview.com\/2020\/02\/its-time-for-the-fed-to-take-on-the-coronavirus-threat\/   *The Era of Fed Power is Over. Prepare for a More Perilous Road Ahead.* by Greg Ip https:\/\/www.wsj.com\/articles\/shrinking-influence-of-central-banks-ends-decades-of-business-as-usual-11579103829?mod=rsswn   David\u2019s blog: macromarketmusings.blogspot.com David\u2019s Twitter: @DavidBeckworth ","author_name":"Macro Musings with David Beckworth","author_url":"http:\/\/macromarketmusings.blogspot.com\/","html":"