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Today, Explained

“Awwww, Shucky Ducky!”

Today, Explained

Vox

Politics, Daily News, News

4.310.3K Ratings

🗓️ 7 May 2019

⏱️ 24 minutes

🧾️ Download transcript

Summary

President Trump has tried and failed to install two controversial candidates onto the Federal Reserve’s Board of Governors. Vox’s Matthew Yglesias argues that while failing the president might also be succeeding. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Before we get into another big bad episode of today explained, support for the show today

0:04.8

comes from Quip Electric Toothbrushes.

0:07.2

They now have a kid's quip.

0:09.0

The quip starts at just $25 and you can find out more at GetQuip.com slash explained where

0:13.3

your first pack of refills is free, g-e-t-q-u-i-p.com slash explained.

0:26.8

There's a paradox in the federal government.

0:29.1

The Fed is boring and everybody sounds bored by it.

0:32.8

But the economy is interesting and everybody cares about the stock market, the job market,

0:38.4

but the Fed is the single most important actor in all of that.

0:42.4

Matthew Glacius hosts the Weeds podcast from Vox.

0:45.6

It's like the Supreme Court for the economy.

0:48.6

Lots of people, like you're not lawyers, but you understand that Supreme Court confirmations

0:53.6

are really important because that's the apex of the legal system.

0:57.0

The Federal Reserve sits atop American economic policy making.

1:01.6

So if you care about jobs and wages and anything, you should care.

1:05.7

And the thing we should care about is all the drama at the Fed lately.

1:09.5

A lot of drama.

1:14.5

Donald Trump has for over a year now decided to violate the tradition that the president

1:23.0

should not be interfering with the conduct of monetary policy.

1:28.2

President Trump just a minute ago, sounding off on the Federal Reserve.

1:32.6

I think the Fed is making a mistake.

1:37.2

You're so tight.

...

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