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The Bulwark Podcast

Catherine Rampell: The Economy Is Weird Right Now

The Bulwark Podcast

The Bulwark

Politics, News, News Commentary

4.68.9K Ratings

🗓️ 15 September 2022

⏱️ 40 minutes

🧾️ Download transcript

Summary

Too few workers, too much inflation — these are confusing times for our economy. Plus, the myth of a manufacturing comeback, and the slow-moving employment crisis among teachers, cops, and other public servants. Catherine Rampell joins Charlie Sykes. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello Ho Ho! Here's an important message from Network Rail for anyone who's travelling

0:05.3

by train this Christmas and New Year. We'll be working over the festive period to make

0:10.5

improvements to the railway. Most of the network remains open, but some train services

0:15.9

will be affected from Sunday 25 December until Monday 2 January. So, to keep your festive

0:23.7

plans on track, please check before you travel at nationalrail.co.uk slash Christmas.

0:53.7

So, it's fun.

1:00.4

Just in case you have any free time, you're also an economic and political commentator for

1:04.1

CNN and a special correspondent for the PBS NewsHour. I appreciate you coming on this week,

1:10.5

in particular, because there are so many things that I don't understand that I'm hoping

1:15.1

that you can explain to me.

1:16.3

I will do my best, no promises.

1:19.1

start off with a softball easy question, can you explain the economy to me?

1:24.8

Oh, I wish I could. You know, the economy is so confusing right now, even to people with

1:32.3

PhDs, which I do not have. The economy is very difficult to make sense of because there

1:38.7

are so many different metrics that seem to be pointing in opposite directions. You know,

1:43.5

the economy is good. The economy is not good. We're going to have a recession. We're not

1:46.3

going to have a recession. So you are not alone in being somewhat baffled by what's going on right

1:54.9

now. Well, let's talk about inflation. We had these horrific numbers earlier this week because

1:59.6

the stock market to crash, obviously, an expectation of higher interest rates. But give me your take on

2:06.7

how serious the problem is and what is causing it? Well, let's start with what is causing it,

2:12.4

but I think we know how serious it is. So there are a number of factors that have been driving

2:17.9

high inflation and there's some debate about how much to attribute to any one of these factors.

...

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