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David Andolfatto (@dandolfa), Professor & Economics Department Chair at the University of Miami, joins Adam, Douglas, and Ryan to discuss:
- David's journey from construction to academia and the Federal Reserve.
- His focus on monetary theory and views on the essence of money.
- How MMT compares and contrasts with traditional economic theories.
- David's take on money's role in resource allocation and price setting.
- Historical inflation trends and major economic shifts, like the 1970s oil crises.
- Analysis of how changing interest rates can affect the economy.
- The difference between short-term rate changes and long-term interest rate impacts.
- Andolfatto's views on government responses to high interest rates and their effects.
- Economic complexity and the need for careful policy evaluation.
David Andolfatto received his Ph.D. in economics in 1994 from the University of Western Ontario, London, Canada. A native of Vancouver, British Columbia, he began his academic career in Canada as a professor of economics. In 2009, he was awarded the Bank of Canada Fellowship Award for his contributions in the theory of money, banking, and monetary policy. In that same year, David left Canada to become Vice President, and then Senior Vice President, in the research division of the Federal Reserve Bank of St. Louis, where he served as a senior policy advisor for James Bullard, CEO and president of the Bank. He left the Fed in 2022 to become Chair of the Economics Department at the University of Miami Patti and Allan Herbert Business School.