Big Take DC: Economists May Be Using Bad Data to Make Big Decisions
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 30 January 2024
⏱️ 19 minutes
🧾️ Download transcript
Summary
Today's episode is a special edition of Bloomberg's Big Take DC podcast, featuring an interview with our own Joe Weisenthal and Tracy Alloway. They spoke to Big Take host Saleha Mohsin of Bloomberg News, about how the US has managed to avoid a recession — and whether the Federal Reserve’s decisions were based on reliable data. It also features an interview with Claudia Sahm, an ex-Fed economist and contributor to Bloomberg Opinion. To hear more from Big Take DC, subscribe to their show.
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Transcript
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| 0:26.1 | And context changes everything. |
| 0:27.7 | Go to Bloomberg.com to get context. |
| 0:30.3 | Hello Odd Lodge listeners. |
| 0:32.1 | You will be enjoying an episode of one of our fellow |
| 0:34.7 | podcasts on the Bloomberg network, Big Take DC. Yep, hosted by Sala Mohsen. |
| 0:40.9 | This episode features one of our favorite guests, |
| 0:44.3 | economist Claudia Somme. You might remember that we spoke to her back in November |
| 0:48.9 | about the outlook for the US economy and Sala digs even deeper into what's driving things like |
| 0:55.4 | sentiment consumer surveys versus the hard data right now. Take a listen. |
| 0:59.9 | When the government is trying to get a handle on inflation, it's the Federal Reserve that has the biggest lever to pull. |
| 1:07.0 | Think of the Fed like a traffic cop. |
| 1:10.0 | Instead of a whistle and cone, the central Bank uses interest rates to try and contain inflation. |
| 1:16.0 | When rates go up, money becomes expensive and people tend to spend and borrow less. |
| 1:22.0 | That slows the economy down. When rates go down, people are more |
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