Austan Goolsbee on How This Cycle Turned Out To Be So Different

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 11 October 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In 2022 and 2023, the Federal Reserve basically had one focus: defeating inflation. That's now changed. Keeping inflation at bay is still important, but the Fed is now attuned to labor market risks as well. On this episode of the podcast, we speak with Chicago Fed President Austan Goolsbee about how the US economy achieved something that almost nobody thought was possible: a marked decline in inflation without a major increase in the unemployment rate or a slowdown in economic activity. We discuss what actually happened to the economy over the last four years. What was the role of monetary policy in bringing down inflation? How much of the inflation turned out to be transitory all along? And what are the risks today, with the September jobs report having come in much stronger than expected? He explains why the Fed has shifted its priority and how he's thinking of risk management at this point in the economic cycle.

Read More:
Three Fed Officials Shrug Off CPI Report, Bostic Open to Pause

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	As a real estate manager, principal asset management harnesses the power of a 360 degree perspective,
0:05.7	delivering local insights and global expertise across public and private equity and debt.
0:11.2	Their teams apply local insights and global perspectives to help
0:14.4	identify the most compelling investing opportunities. Principal asset
0:18.2	management actively invested. Learn more at principal AM.com. Investing involves risk including possible loss of
0:25.9	Principal Asset Management SM is a trade name of Principal Global Investors
0:30.3	LLC. Are you looking for a new podcast about stuff related to money?
0:37.0	Well, today's your lucky day.
0:39.0	I'm Matt Levine.
0:40.0	And I'm Katie Grifield.
0:41.0	And we are the hosts of Money Stuff, the podcast.
0:44.8	Every Friday, we dive into the top stories
0:46.8	about Wall Street, finance, and other stuff.
0:49.7	We have fun, we get weird, and we want you to join us.
0:53.0	You can listen to Many Stuff the Podcast on Apple Podcasts, Spotify, or wherever you get your
0:57.4	podcasts. Bloomberg Audio Studios.
1:07.0	Podcasts, Radio News. Hello and welcome to another Wiesenthaw.
1:25.0	Joe Wiesenthaw.
1:28.0	Joe how is your deep dish pizza?
1:30.0	It was so good.
1:32.0	You know I actually don't know if I had ever really had a proper Chicago deep dish pizza before,
1:40.0	but I went to this place, I think it was called Piquads,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.