Jay Powell’s Tough Call

Slate Money

Slate Podcasts

Investing, Business

4.3 • 988 Ratings

🗓️ 19 April 2025

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week: Trump isn’t happy with Fed chair Jay Powell’s take on his tariffs. Felix Salmon, Elizabeth Spiers and guest host Cardiff Garcia discuss the economic reasoning for why Powell is resisting the president’s demands to lower rates and what would happen if Trump finds a legal way to fire him. Then, the Trump administration is both gutting the IRS and potentially weaponizing it against Harvard. The hosts discuss the consequences of politicizing the agency. Finally, Trump’s trade war keeps escalating as China refuses to back down. Is there any chance for a good outcome? In the Slate Plus episode: Elon Musk’s Baby Brood Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello! Welcome to Slate Money, your guide to the business and finance news of the week. I'm
0:18.4	Felix Samuel of Axios with Elizabeth Spires of New York Times.
0:23.4	Hello.
0:24.0	And I am joined here in the studio, not by Emily Peck, but rather by Cardiff Garcia.
0:31.5	Hello.
0:32.1	Cardiff, welcome back. It's been a minute.
0:34.3	I know it has been, and I can't wait to get into it.
0:37.9	For the four Slate Money listeners who don't remember you or haven't been keeping up with your illustrious career, where do you work and what is your podcast?
0:49.2	So I am the editorial director of the Economic Innovation Group.
0:53.0	My podcast is called The New Bazaar, and as always I have to specify, that's spelled
0:57.8	B-A-Z-A-A-R, like a marketplace.
1:00.3	Whose idea was that, Cardiff?
1:02.4	It's all right up here.
1:04.1	Right up here.
1:04.9	You're looking at him.
1:06.0	Cardiff is, of course, one of the smartest economics podcasters on planet Earth.
1:11.2	So it's great to have him on the show.
1:13.3	We are going to talk about Fed Independence and monetary policy.
1:18.2	We are going to talk about the IRS and what's going on there.
1:22.8	I believe the word shit show.
1:24.8	Shit show works.
1:26.3	We are going to talk about China and with the whole relationship between the US and China.
	...

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