<description>&lt;p&gt;&lt;span style= "font-size: 12.0pt; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"&gt; Laurence Bristow is a former staffer at the Reserve Bank of Australia and currently is a Vice President and Research Associate at the Bank Policy Institute. In Laurence's first appearance on the show, he discusses the differences between the Reserve Bank of Australia and the Fed, The RBA's change in operating systems, what a demand driven system actually looks like, the motivation for the RBA to make this change, calls for changes to the operating system within the Fed, and much more.&lt;/span&gt;&lt;/p&gt; &lt;p class="MsoNormal"&gt;Check out the &lt;a href= "https://www.mercatus.org/macro-musings/laurence-bristow-what-fed-can-learn-reserve-bank-australia"&gt;transcript&lt;/a&gt; for this week's episode, now with links.&lt;/p&gt; &lt;p class="MsoNormal"&gt;Recorded on November 20th, 2025&lt;/p&gt; &lt;p class="MsoNormal"&gt;Subscribe to David's Substack: &lt;a href= "https://macroeconomicpolicynexus.substack.com/"&gt;Macroeconomic Policy Nexus&lt;/a&gt;&lt;/p&gt; &lt;p class="MsoNormal"&gt;Follow David Beckworth on X: &lt;a href= "https://twitter.com/DavidBeckworth"&gt;@DavidBeckworth&lt;/a&gt;&lt;/p&gt; &lt;p class="MsoNormal"&gt;Follow the show on X: &lt;a href= "https://twitter.com/Macro_Musings"&gt;@Macro_Musings&lt;/a&gt;&lt;/p&gt; &lt;p class="MsoNormal"&gt;Check out our Macro Musings &lt;a href= "https://www.bonfire.com/store/mercatus-podcast-swag/"&gt;merch!&lt;/a&gt;&lt;/p&gt; &lt;p class="MsoNormal"&gt;&lt;a href= "https://www.youtube.com/@BeckworthDavid"&gt;Subscribe&lt;/a&gt; to David's new BTS YouTube Channel &lt;/p&gt; &lt;p class="MsoNormal"&gt;Timestamps&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:00:00 - Intro&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:01:22 - Laurie's Career&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:05:15 - Reserve Bank of Australia&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:11:33 - RBA's New Monetary Policy Implementation System&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:17:28 - What Is a Demand-Driven System?&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:26:02 - Interbank Market&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:31:33 - Motivations for a Demand-Driven System&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:40:10 - Bank Policy Institute Money Market Symposium&lt;/p&gt; &lt;p class="MsoNormal"&gt;00:52:36 - Outro&lt;/p&gt;</description>

Macro Musings with David Beckworth

Mercatus Center at George Mason University

Laurence Bristow on What the Fed can Learn from the Reserve Bank of Australia

DEC 8, 202553 MIN
Macro Musings with David Beckworth

Laurence Bristow on What the Fed can Learn from the Reserve Bank of Australia

DEC 8, 202553 MIN

Description

Laurence Bristow is a former staffer at the Reserve Bank of Australia and currently is a Vice President and Research Associate at the Bank Policy Institute. In Laurence's first appearance on the show, he discusses the differences between the Reserve Bank of Australia and the Fed, The RBA's change in operating systems, what a demand driven system actually looks like, the motivation for the RBA to make this change, calls for changes to the operating system within the Fed, and much more. Check out the transcript for this week's episode, now with links. Recorded on November 20th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth 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 00:01:22 - Laurie's Career 00:05:15 - Reserve Bank of Australia 00:11:33 - RBA's New Monetary Policy Implementation System 00:17:28 - What Is a Demand-Driven System? 00:26:02 - Interbank Market 00:31:33 - Motivations for a Demand-Driven System 00:40:10 - Bank Policy Institute Money Market Symposium 00:52:36 - Outro