Paul Kupiec is a senior fellow at the American Enterprise Institute. In Paul’s first appearance on the show, he discusses life at a think tank, the insolvency of the Fed, theories on how to fix the Fed’s balance sheet, Ted Cruz’s call to end interest on reserves, and much more.
Check out the transcript for this week’s episode, now with links.
Recorded on June 24th, 2025
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Timestamps
00:00:00 - Intro
00:01:14 - Paul’s Career
00:08:12 - Think Tanks
00:10:42 - Current State of the Fed’s Balance Sheet
00:20:22 - The Federal Reserve and Gold
00:23:04 - The Fed’s Unique Accounting
00:39:28 - Ending Interest on Reserve Payments to Banks
00:50:08 - Outro
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