4.8 • 692 Ratings
🗓️ 26 August 2025
⏱️ 28 minutes
🧾️ Download transcript
Click on a timestamp to play from that location
0:00.0 | Fed just flipped with now Powell discussing possible rate cuts in September. |
0:08.8 | But the question is, is the economy so weak that it's not going to matter? |
0:14.7 | I know. So do you think this is Trump? |
0:17.8 | No. |
0:18.4 | No, I don't know. I don't know. He's saying it's not, but let's dig in a little bit more. |
0:23.5 | You know, let's talk about his message at Jackson Hole because everybody was hanging on that |
0:27.7 | last week, right? Yeah, Jerry, if you can pull up clip one. Powell said, nonetheless, with policy |
0:34.1 | and restrictive territory, the baseline outlook and the shifting balance of risks |
0:38.4 | may warrant adjusting our policy stance. And then he starts to focus on the labor market. |
0:45.0 | So he says, while the labor market appears to be in balance, it's a curious kind of balance |
0:50.4 | that results from a market slowing in both the supply and demand for workers. |
0:55.1 | This unusual situation suggests that downside risk to employment are rising. And if those |
1:00.3 | risks materialize, they can do so quickly. All right. See, he didn't use the word AI. |
1:05.2 | Well, so I actually was thinking, Lex. So, kind of you always talk about AI and it gets annoying, |
1:09.4 | but I am going to tell you that I do agree with you on this is that I do think Powell is weighing in on AI because he said there's no supply or demand for workers. |
1:20.8 | And so it's kind of getting hit from both sides. |
1:23.4 | So the job market is in unforeseen. |
1:25.6 | They're out of touch, man. |
1:27.1 | Like, like, I don't know. I have friends in the field. You have friends in the field. The employment market is not good right now. It's not. Right? Like, I mean, you know, maybe it is in some areas, guys. But, you know, it's moving fast. And, you know, and I think it's way worse than it's being reported |
1:46.5 | personally. But before we get into that, let's talk about, I think, you know, when he, when Paul |
1:53.3 | used the word restrictive territory, you know, we dug a little bit deeper. And, and so I want to, |
1:59.6 | I want to point out to what that actually means. |
... |
Transcript will be available on the free plan in 21 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Ken McElroy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ken McElroy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.