282: A New Theory on What Causes Inflation with Economist John Cochrane
Retire With Purpose - The Retirement Podcast
Casey Weade
4.7 • 564 Ratings
🗓️ 11 April 2022
⏱️ 65 minutes
🧾️ Download transcript
Summary
Today, I'm talking to John Cochrane. John is an economist and the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution. He's a former Professor of Finance at the University of Chicago Booth School of Business and the Department of Economics, and the author of the Grumpy Economist blog.
John's work is focused on monetary policy and the fiscal theory of the price level, and he's written at length about macroeconomics, health insurance, econometrics, and regulations, to name just a few topics.
In his upcoming book, The Fiscal Theory of the Price Level, he proposes the thesis that government debt is a core driver of inflation, that high interest rates can make deficits worse, and fiscal policy has to come with monetary policy to solve this problem.
In our conversation, John and I talk about why he's still optimistic about the long-term outlook despite almost always seeing storm clouds on the horizon, why he doesn't like to use the word capitalism, and how retirees can learn from his research to best protect themselves from rampant inflation in the years to come.
In this podcast interview, you'll learn:
- How John maintains a positive attitude in the face of what can seem like neverending bad news and idiotic economic policy.
- Why the entrepreneurial spirit of the United States feels more stifled than ever before.
- Why risk management is so important for retirees right now.
- The one thing John would do right now if he were Fed chairman.
- John's tax strategy advice for anyone looking to future-proof their portfolio.
- Why John thinks the US dollar will continue to be the global currency.
Show Notes: Howardbailey.com/282
Rate & Review the Podcast: RetireWithPurpose.com/review
Weekly Retirement Newsletter: RetireWithPurpose.com/weekend-reading
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Retire with Purpose podcast, a show specifically designed to help free retirees and retirees maximize their financial confidence. |
| 0:14.4 | Casey Wheat is a certified financial planner and president of Howard Bailey Financial. |
| 0:18.3 | His newest book, Job Optional, is a Wall Street Journal |
| 0:21.5 | bestseller and is available now on Amazon and at Retirewithpurpose.com. He's your host on |
| 0:27.9 | Retire with Purpose. Hey, I'm Casey, and I believe in retirement strategies that are driven by |
| 0:34.0 | meaning and purpose. Join me this week and every week as we discuss thoughts and ideas |
| 0:40.3 | with some of today's foremost experts in the field of finance and retirement, as well as discussing |
| 0:46.2 | trending topics that could impact your bottom line. These discussions can help you make |
| 0:51.7 | better financial decisions so you can live the lifestyle you've always imagined and deserved. |
| 0:57.9 | Welcome to the show. |
| 1:02.6 | Today, I'm having a conversation with Dr. John Cochran. |
| 1:06.9 | John is an economist and the Rosemary and Jack Anderson Senior Fellow at the Hoover Institution. |
| 1:13.5 | He's a former professor of finance at the University of Chicago Booth School of Business and the Department of Economics and the author of the Grumpy Economist blog. |
| 1:23.6 | John's work is focused on monetary policy and the fiscal theory of the price level. |
| 1:28.9 | And he's written at length about macroeconomics, health insurance, econometrics, and |
| 1:34.8 | regulations, to just name a few easy-to-cover topics. |
| 1:38.9 | In his upcoming book, The Fiscal Theory of the Price Level, he proposes the thesis that government debt is a core |
| 1:45.8 | driver of inflation. One of the things that really attracted me to this conversation. |
| 1:51.0 | Also, that high interest rates can make deficits worse, and fiscal policy has to come with |
| 1:56.9 | monetary policy to solve this problem. In our conversation, John and I talk about why he's still optimistic about the long-term |
| 2:05.0 | outlook despite almost always seeing storm clouds on the horizon, i.e. grumpy economist, why |
| 2:11.8 | he also doesn't like to use the word capitalism and how retirees can learn from his research |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Casey Weade, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Casey Weade and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.