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Explain It to Me

Ezra interviews Ben Bernanke

Explain It to Me

Vox Media Podcast Network

Education, News, Society & Culture, Politics

4.48K Ratings

🗓️ 15 December 2015

⏱️ 41 minutes

🧾️ Download transcript

Summary

In this special episode of The Weeds, Ezra interviews former Federal Reserve Chairman Ben Bernanke about what it's like to manage the most powerful economic policymaking institution in the world during a financial crisis. They also talk about Bernanke's views on the Republican party, what he learned from George W. Bush and Barack Obama, and what happened when he went to Texas. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hey Weed's fans, I am Ezra Klein, one of the hosts of Box.com's and Panably Network's

0:07.0

podcast of the Weeds.

0:08.0

And I'm here with a special extra midweek episode.

0:11.5

I got a chance recently to sit down and interview Ben Bernanke, the former Federal Reserve

0:16.0

chairman.

0:17.0

He just released a really great memoir actually of his time running with Federal Reserve

0:20.8

called Courage to Act.

0:22.4

I recommend it if you like reading memoirs of financial crisis.

0:25.9

This is definitely one of the ones you should read.

0:28.5

This is a very in the Weeds interview.

0:31.3

We sat down and talked about what it is like to be the Federal Reserve chairman, to sort

0:35.6

of how the mechanisms of control work, what the staffing is like, had you get the information

0:40.8

during something that is fast paced and very opaque like a financial crisis.

0:45.7

So this is really down deep in the mechanics of his job, which I found really interesting

0:50.9

to hear and I hope you will too.

0:53.5

So here we are, Ben Bernanke, former Federal Reserve chairman.

0:56.0

Hope you enjoy.

0:57.0

I'm going to start with a question that is actually a little bit simple.

1:00.6

What does the Federal Reserve chair do?

1:03.6

Well, the multiple jobs, very important job of course is managing monetary policy, which

1:10.4

means following the economy very closely, following financial markets closely, then consulting

1:16.3

with and talking with the members of the Federal Market Committee, the policy committee,

...

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