Aaron Klein on the US's Real-Time Payments Problem and the Impact of Covid Era Quantitative Easing

Aaron Klein is a senior fellow in economic studies at the Brookings Institution. Aaron returns to the show to discuss his paper with George Selgin calling for real time payments, the inequality caused by the Fed's current payment processes, the results of Covid time QE, recommendations for dealing with future crises, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on December 11th, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow Aaron Klein on X: @AarondKlein

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel 

Timestamps

00:00:00 - Intro

00:01:06- Faster Payments

00:29:09 - Fed Governance

00:30:35 - Quantitative Easing and Housing Inflation Post-COVID

00:52:16 - Fed Assets

01:01:149 - Outro