Professor Allan Meltzer – Part 1

Featuring Professor Allan Meltzer

In the first part of a rare interview, Professor Allan Meltzer, the Official Historian of the Federal Reserve, shares insights gleaned from his many decades working within the US central bank with Dr. Pippa Malmgren. In Part One, Professor Meltzer offers his views on the ongoing delay in raising interest rates, the erosion of the Fed’s independence and the massive increase in regulatory pressure and why it leads to crony capitalism, corruption and circumvention. With his unique experience of the policy environment facing every Chairman of the Federal Reserve since William McChesney Martin, Professor Meltzer’s perspective of the past is simply not to be missed.

Published on
4 September, 2015
Topic
Monetary policy, Politics, History
Duration
41 minutes
Rating
11

Comments

  • DT

    Dennie T.

    13 6 2018 21:17

    0       0

    Great video! Unfortunately there appears to be an issue with playing part 2.

  • JU

    Jay U.

    28 5 2017 14:27

    1       0

    Great interview! A great thinker who will be missed.
    One of the big points he hammers home is that the Fed needs to find a way to deal with the excess reserves. If the Fed doesn't, he states the results will be inflation or a recession. I could see how inflation results - if the banks started lending the excess reserves, money supply increases - but how would the excess reserves cause a recession? Does anyone have any thoughts? I won't get a chance to ask the man directly...

  • MN

    Mark N.

    28 5 2017 08:31

    0       0

    Pippa is such a good interviewer, I wonder if she just interviews without any preparatory thoughts on the direction of the interview.

  • HK

    H K.

    27 5 2017 18:22

    8       0

    This would never show up on CNBC or Bloomberg because it makes too much sense. Thanks and may this good man rest in peace.

  • LV

    Luís V.

    28 9 2015 20:24

    4       0

    So simple. Spot on. Legend indeed.
    Congratulations RVtv and Pippa.

  • JL

    James L.

    27 9 2015 01:18

    4       0

    The first Fed official that makes both practical and academic sense. Poppa is a great interviewer.

  • MR

    MIGUEL R.

    20 9 2015 00:47

    9       0

    we'd be far better off if we could replace the clowns at the fed with this man.

  • MR

    Marko R.

    18 9 2015 20:23

    4       0

    That was good. I love how he was not cut off and could just talk free

  • DO

    David O.

    14 9 2015 23:01

    6       0

    Legend.

  • AE

    Alex E.

    14 9 2015 02:32

    1       0

    Charles & Jon,
    Wisdom is rarely valued in this day and age, and if it is, it seems to remain buried under a lot of hype...

  • JM

    Jon M.

    10 9 2015 23:43

    1       0

    This interview should be aired on CNBC and Bloomberg so it can reach a broader audience. It cuts right through the fog.

  • CC

    Charles C.

    10 9 2015 23:15

    2       0

    Wonderful interview. It's a shame that someone with such hard earned wisdom is not seriously listened to.

  • SJ

    Suzanne J.

    9 9 2015 05:34

    3       0

    A gem. Prof. Meltzer embodies the old craft of keeping it simple. It's not rocket science. Perfectly directed by Pippa. Thank you both and look forward to more.

  • KD

    Ken D.

    8 9 2015 21:45

    1       0

    Extraordinary interview!

  • PM

    Pippa M.

    8 9 2015 16:59

    4       0

    Allan Meltzer's new book on regulation isn't out yet. It's coming.

  • GB

    Gary B.

    7 9 2015 18:56

    2       0

    EB-Do you really want gov"t investing in biotech, etc.? That would be awful. Remember Solyndra? $$ will go to contributors not best companies.

  • SB

    Stewart B.

    7 9 2015 12:21

    3       0

    Very genuine and frank comments. Perspective on small business and regulation spot on!

  • EB

    ELIZABETH B.

    7 9 2015 11:58

    1       3

    Richard Duncan has
    suggested that the Fed use the next QE to invest in biotech, energy, and nano-tech, etc.,instead of wasting more money on higher asset prices. Is this feasible?

  • DU

    Don U.

    7 9 2015 05:14

    4       0

    Excellent. Old guys rule. Wisdom is meritorious.

  • KH

    Katrina H.

    6 9 2015 20:48

    3       0

    What a great interview. I'd love to send it to Janet Yellen and get her comments. Wishful thinking, I know.

  • FR

    Fields R.

    5 9 2015 16:17

    3       0

    L sold my successful medical clinic because of over-regulation, an like banking, everything in medicine is moving to large institutions Writing prescriptions is now a terrible burden for physicians.

  • MA

    Melanie A.

    5 9 2015 15:55

    1       0

    Great interview. Amen on regulation. Look forward to part two.

  • PR

    Peter R.

    5 9 2015 15:16

    13       0

    As the official historian of the FED I thought this was going to be a snow job on how wonderful they were. Not a bit of it, observant and highly critical, smart and thoughtful. I wish he ran the FED.

  • AG

    Alexander G.

    5 9 2015 14:05

    0       4

    2. Regulations - always a response to major "accidents". Doing nothing an alternative? Zero street signs = Ayn Rand view. Thought that was put to rest after 2008 finl crisis. Glass/Steagall = bad?

  • AG

    Alexander G.

    5 9 2015 14:03

    2       0

    Great interview. However: 1. Boost investment via higher asset prices - isn't that exactly what Fed is trying? Aren't higher asset prices = inflation? Is it the Fed's fault only finl assets affected?

  • EB

    ELIZABETH B.

    5 9 2015 09:57

    2       0

    What is the name of the Professor's new book? You didn't say and I can't find it.

  • EB

    ELIZABETH B.

    5 9 2015 09:56

    1       0

    WILL the FED shift monetary policy to inflation targeting of prices? Rumors say their target is to increase prices by 4%.

  • TW

    Todd W.

    5 9 2015 05:07

    2       0

    That is a stellar interview ! Well done Pippa

  • dp

    dan p.

    4 9 2015 22:05

    7       0

    what a great interview. What a great economist. Like DH I was sitting listening and just wishing that I could show it to the Govt. Pippa is such a great interviewer. cant wait for part 2

  • DH

    Dale H.

    4 9 2015 21:54

    7       0

    Great interview. Wonderful having Pippa as interviewer. I loved seeing the excitement rise at certain points. Wish I could show it to the govt in my country! I start to think wouldn't it be great IF..

  • MB

    Mike B.

    4 9 2015 21:50

    7       0

    What a tremendous interview. Great job Pippa! Waiting on Part II and hoping you asked him why interest rates have to rise why the Fed balance sheet must shrink.

  • PM

    Pippa M.

    4 9 2015 20:45

    44       0

    FYI, we get to Gold, the Euro and more in part 2, which is coming soon.

  • PT

    Philip T.

    4 9 2015 18:14

    12       0

    Pippa is a brilliant jewel whether she is the interviewer or interviewee.

  • CD

    Colin D.

    4 9 2015 17:04

    10       0

    What a great interview - I look forward to Part 2. It confirms what I thought in that the Fed believe their own hype and are now the new masters of the universe. It will not end well!!!

  • db

    don b.

    4 9 2015 17:01

    3       2

    Again the subject of gold is avoided much less the manipulation (of gold) by the FOMC. It would be nice to see real questions ask to insiders.

  • BB

    Brian B.

    4 9 2015 15:52

    15       0

    Absolutely 100% pure brilliance. There is a Thomas Kuhn paradigm shift occurring at the highest level of economic and governing thought. This interview covers those issues in brilliant clarity.