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Economist Podcasts

Fed man walking? Trump v Powell

Economist Podcasts

The Economist

News & Politics, News

4.44.9K Ratings

🗓️ 24 April 2025

⏱️ 23 minutes

🧾️ Download transcript

Summary

First, Jerome Powell, chairman of the Federal Reserve, was for the chop; then he was safe. As elsewhere President Donald Trump’s flip-flopping chips away at American credibility. After years of working from home, data make clear which demographic likes to do more of it (10:40). And electric vehicles do pollute the air—just not from the tailpipe (17:19).


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Transcript

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0:00.0

The Economist

0:02.0

Hello and welcome to the intelligence from The Economist.

0:12.0

I'm your host, Jason Palmer.

0:16.0

Every weekday we provide a fresh perspective on the events shaping your world.

0:24.6

I'm lucky enough to be able to do some of my work from home.

0:29.6

To be honest, I kind of like it as part of a balanced working diet.

0:33.6

Turns out it seems that feeling is shared particularly by workers in the English-speaking world.

0:40.3

And electric vehicles are absolutely positively, unequivocally hands-down better for the environment when it comes to tailpipe emissions.

0:49.3

But that's not the only kind of environmental impact that vehicles have. I would say the Fed really owes it to the American people to get interest rates down.

1:14.6

That's the only thing he's good for.

1:16.6

Here's a pattern that we've come to know well in the second Trump administration.

1:21.6

It starts with an incendiary statement.

1:24.6

This time, a week ago, a vibe straight out of Mr. Trump's time telling contestants

1:29.3

on The Apprentice that they're fired. Oh, he'll leave. If I ask him to, he'll be out of there,

1:34.2

but I don't think he's, I don't think he, I don't think he's doing the job. He's too late,

1:41.0

always too late, a little slow, and I'm not happy with him. I let him know it, and

1:48.5

if I want him out, he'll be out of there real fast. Then the backing off, the climb down,

1:56.0

a claim that that's not what he meant, or someone else is to blame for the kerfuffle.

2:00.3

The press runs away with things. Now. I have no intention of firing him.

2:04.0

I would like to see him be a little more active in terms of his idea to lower interest rates.

2:11.5

This is a perfect time to lower interest rates.

2:14.6

If he doesn't, is at the end, no.

...

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