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Plain English with Derek Thompson

Could the Fed Break the World Economy?

Plain English with Derek Thompson

The Ringer

News, News Commentary

4.72.1K Ratings

🗓️ 4 October 2022

⏱️ 40 minutes

🧾️ Download transcript

Summary

What if, in trying to fix the hangover of domestic inflation, the Federal Reserve is accidentally triggering a series of diabolical domino effects that could screw up the global economy? Joining the show today to walk us piece by piece through those dominos is Kyla Scanlon, a writer and brilliant economic explainer on TikTok and YouTube. Kyla is an expert at what I try to do with this show, which is to explain complicated ideas in simple ways without losing the nuance that makes them complicated in the first place. I’ve learned a lot from her. And I hope you do, too. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. You can find us on TikTok at www.tiktok.com/@plainenglish_ Host: Derek Thompson Guest: Kyla Scanlon Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

I'm Yasu Solic and I'm the host of BandSplain, a show where we explain cult bands and iconic

0:06.3

artists by going deep into their histories and discographies.

0:10.4

We're back with a brand new season at our brand new home, The Ringer Podcast Network,

0:14.8

tackling a whole new batch of artists, from grunge gods to power pot pioneers to new metal

0:19.8

legends and many, many more.

0:22.5

Listen to new episodes every Thursday, only on Spotify.

0:26.4

Today's episode is about the Federal Reserve and the possibility that the Fed's actions

0:34.6

and rising interest rates might accidentally wreck the global economy.

0:40.3

So I was thinking about the best way into this particular episode and a story occurred

0:45.8

to me, a story from my past.

0:48.7

When I was in my late teens, early 20s, I must confess that I used to drink a little bit

0:55.2

more than I do today and I got a lot of really, really bad hangovers.

1:02.2

And when I got a bad hangover, I would always do the same thing.

1:04.6

I would take the drug, etc.

1:08.0

And then if the first accession pill didn't do anything, I would take another accession.

1:13.1

And sometimes when that second accession drug didn't do anything, I would take a third

1:16.8

pill of accession.

1:19.2

And sometimes this prescription of taking Etc, or in order to cure my hangovers worked

1:25.4

really, really well, but other times I would start like shaking, jittering, having that

1:33.3

stomach aches, the side effects of the Etc would take hold before the hangover itself

1:39.6

had gone away.

1:40.6

And so it would end up with the worst of both worlds, a hangover, a headache, and all these

...

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