It's Budinger Oldstyle in an optical size tuned for Display! Like its text-weight brother, it is a perfect choice for display in situations that require a hint of scholarship, fine arts, craft, erudition, and clarity.

Budinger Oldstyle has the style of a Garalde (like those of Garamond, Manutius, et al.), with a whiff of Venetian revival (after the fashion of Schneidler & Goudy). The letters are arbitrary, with conventions like cupped serifs and leftward stress. It also has a higher x-height than might be expected, to give it an upright posture and openness in the counters. The italic is more compact, with more clearly calligraphic letterforms and conventions like Swash Caps.