Peter Conti-Brown – a legal scholar and financial historian at the University of Pennsylvania, as well as a Nonresident Fellow in Economic Studies at the Brookings Institution – returns to Macro Musings to discuss the new Fed-Treasury relationship that is emerging in the wake of the war against COVID-19. Peter and David breakdown the CARES Act, the aggressive and extensive policies recently taken by the Fed, and the implications for monetary policy moving forward.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Peter’s Twitter: @PeterContiBrown Peter’s Brookings profile: https://www.brookings.edu/author/peter-conti-brown/ Peter’s Wharton profile: https://lgst.wharton.upenn.edu/profile/petercb/   Related Links:   *Explaining the New Fed-Treasury Emergency Fund* by Peter Conti-Brown https://www.brookings.edu/research/explaining-the-new-fed-treasury-emergency-fund/   *What’s the Fed Doing in Response to the COVID-19 Crisis? What More Could it Do?* by Jeffrey Cheng, Dave Skidmore, and David Wessel https://www.brookings.edu/research/fed-response-to-covid19/   *The Foreign Affairs of the Federal Reserve* by Peter Conti-Brown and David Zaring https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3169870   *Longer-Run Economic Consequences of Pandemics* by Oscar Jorda, Sanjay Singh, and Alan Taylor https://www.frbsf.org/economic-research/files/wp2020-09.pdf   Bonus segment featuring Peter Conti-Brown: https://youtu.be/GJF2RlQ8po4   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth