{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Kathryn Judge on the Importance of Emergency Lending Facilities at the Federal Reserve ","description":" Kathryn Judge is a law professor at Columbia University and a legal scholar of the Federal Reserve and financial policy. Kathryn returns to the show to discuss the Fed\u2019s Emergency Lending Facilities, or 13(3) and current happenings at the Federal Reserve. Check out the  transcript for this week\u2019s episode, now with links. Recorded on March 27th, 2025  Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X:&amp;nbsp;@DavidBeckworth Follow Kathryn Judge on X: @ProfKateJudge Follow the show on X:&amp;nbsp;@Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings&amp;nbsp;Discord server! Join the Macro Musings&amp;nbsp;mailing list! Check out our Macro Musings&amp;nbsp;merch! Subscribe to David's new BTS YouTube Channel&amp;nbsp; Timestamps: (00:00:00) \u2013 Intro (00:01:43) \u2013 History of Section 13(3) (00:03:55) \u2013 Increasing Use of 13(3) (00:06:55) \u2013 Unusual and Exigent Circumstances (00:08:53) \u2013 Changes to 13(3) (00:13:17) \u2013 Classification of the Facilities (00:21:13) \u2013 Should the Fed Be Doing Emergency Lending? (00:25:42) \u2013 Feature or Bug? (00:33:19) \u2013 Fed Independence (00:47:45) \u2013 Regionalism of the Fed (00:55:23) \u2013 Outro ","author_name":"Macro Musings with David Beckworth","author_url":"http:\/\/macromarketmusings.blogspot.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/36225720\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/187244460"}