But I am good to go when you all are.

Yeah, me too.

Hello everyone, I'm going to. Hello everyone, I'm Kimberly Adams. Welcome back to Make Me Smart where we make

today makes sense. And I'm Sabrie Beneschoor in for Ky Rizdahl. Thanks everybody

for joining us. It is Thursday July 11th.

And it's our audio show day, so today we're going to listen back to some of the big

stories of the week and some clips from stories that we've been working on.

So let's hear our first clip from Federal Reserve Chair J Powell.

I think my sense and pretty commonly people think we probably won't go back to that era between

global financial crisis and that pandemic where rates were very, very low and inflation was

very low.

You go ahead and take this one, Sabrie.

Yeah, so he's talking about the, really what he's talking about is the neutral rate.

So the neutral rate of interest is the rate that keeps everything in the economy going as it should.

You know inflation's not too bad.

The labor market is reasonable, it's not overheating. is not

too bad. The labor market is reasonable, it's not overheating, the economy is not overheating,

but it's not slowing down, everything is kind of cool.

The problem there though is that that rate is kind of theoretical and you don't quite know exactly what it is for sure until like like two years later

So you can only sort of see it in retrospect, but you still need to have

an idea of what it is. And the problem is that it's changed. It has changed. Almost

certainly it has changed, which you know, you can tell kind of by the fact that the, you know,

...