So I think he thinks the job of the Federal Reserve, which is my bank, just as the government

is my government, is to make sure borrowing, which is part of what he's done with his fiscal

policies.

He's got a massively expansionary fiscal policy.

I control the bank.

I can force people to lend to me cheaply. So why am I not doing it? Why is this person stopping for me for doing this? And now the good fight with

Yasha Monk.

I am really confused about the state of the world economy.

You have seen a set of policies that seem to be really damaging to the United States and to the world,

taken by Donald Trump over the course of the last year, sky high tariffs, the announcement of an investigation into Jerome Powell,

the chairman of the Federal Reserve. And at the same time, the U.S. economy seems to be

humming along quite nicely. Stock markets are near-record valuations. So to help me

understand what is going on with that, I invited perhaps the most prominent economic commentator

writing today, Martin Wolf, the chief economic commentator for the Financial Times.

We talked about the ways in which Trump has and has not transformed the world economy over the last years,

about whether tackle the idea that Trump always chickens out will remain true for the three years of his term that we are yet to experience.

We discussed why it is that the independence of central banks like the Federal Reserve is so

important to long-term economic performance and how that makes the investigation of Jerome Powell so dangerous.

And then we talked about the other big economic issue that is going to shape, not the next

months, but the next years and perhaps decades of our economy and our world, artificial intelligence.

I asked Martin whether he thinks that artificial intelligence. I asked Martin whether he thinks that artificial intelligence

will decimate the middle class or make all of us richer. Is it going to lead to mass job

...