{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Bill Nelson on the Future of the Fed\u2019s Balance Sheet","description":" Bill Nelson is a chief research officer and chief economist at the Bank Policy Institute. In Bill\u2019s 10th appearance on the show he discusses his infamous email list, the ratchet effect from QE, his congressional testimony, the BPI\u2019s Bank Treasurers Survey, how he thinks the Fed should shrink the balance sheet, whether the Fed is profitable, and much more. &amp;nbsp;  Watch the full length video on our new YouTube Channel! Check out the&amp;nbsp;transcript&amp;nbsp;for this week\u2019s episode, now with links. Recorded on March 3rd, 2026 Subscribe to David's Substack:&amp;nbsp;Macroeconomic Policy Nexus Follow David Beckworth on X:&amp;nbsp;@DavidBeckworth Follow the show on X:&amp;nbsp;@Macro_Musings Check out our Macro Musings&amp;nbsp;merch! Timestamps 00:00:00 - Intro 00:02:00 - Quantitative Easing Ratchet Effect 00:16:31 - Bill\u2019s Congressional Testimony 00:31:12 - BPI\u2019s Bank Treasurers Survey 00:37:37 - How To Shrink the Balance Sheet 00:48:44 - The Fed\u2019s Profits 00:54:50 - 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\/40562320\/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\/199919215"}