2024-04-01
56 分钟Welcome to Macro musings, where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past, present and future.
I am your host, David Beckwourth, a senior research fellow at the Mercator center at George Mason University.
And I'm glad you decided to join us.
Our guest today is Isabel Schnabel.
Isabel is a member of the executive board of the European Central bank, and today she joins us to discuss the ECB and its new operational framework that was just announced in March.
Isabel, welcome to the show.
Thanks, David, for having me.
Well, it's great to have you on.
It's an honor to have you on the show, to have a prominent ECB official.
We have audiences around the world, but it's great to get someone who is so important to global central bank policy.
Join us.
And you are a fan of all things central bank operating systems, and you were really important in this process, as I understand it, in the ECB's transition to the new operating framework.
So it's great to talk to a kindred spirit who enjoys thinking and processing through the plumbing of the monetary system.
So I'm really looking forward to that discussion today.
You had a recent speech that we'll turn to, as well as the actual announcement.
But before we do that, Isabel, tell us a little bit about yourself.
How did you get into economics, your career path, and what do you currently do at the ECB?
Yes, happy to do so, David.
So actually, when I graduated from high school, I didn't know much about economics, so that was not dealt with at school.
So I had really very little knowledge about it.