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Money Talks from The Economist

Money talks: An expert’s guide to Trumponomics

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 24 January 2017

⏱️ 24 minutes

🧾️ Download transcript

Summary

A leading economist has issued stark warnings about the Trump era and its impact on the American and global economy. We ask if the new president’s monetary policy is likely to succeed or fail. And with Trump being an economic populist, what will be his attitude to the Fed?

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Transcript

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0:00.0

May I have your attention please you can now book your train tickets on Uber and get

0:08.0

10% back in credits to spend on your next Uber ride so you don't have to walk home in the brain again.

0:15.0

Trains, now on Uber. T's and C's apply. Check the Uber app. Hello, I'm Anne McElvoy, head of radio here at The Economist, and welcome to this special

0:30.1

edition of Money Talks, recorded on location at last week's World Economic Forum meeting

0:35.8

in Davos, Switzerland.

0:38.1

Coming up later, we meet the man nicknamed Dr. Doom, who's been issuing some start warnings about the Trump era and its impact

0:45.8

on America and the wider global economy.

0:48.0

If you're ignoring Asia, if you're growing Europe, if you're ignoring, maybe the least because

0:52.2

you're self-sufficient on energy,

0:54.0

you're not playing the role of providing global security.

0:57.0

And away from the snows of Switzerland, we hear why the future of R&D needs to crank up a gear.

1:03.6

For example, we have about 50 times as many scientists

1:07.8

working on new ideas now than we did 50 years ago,

1:11.1

but actually our productivity growth rates are lower.

1:15.8

But to start, Donald Trump's inauguration was prominent in the thoughts of many at Davos, but

1:20.6

just what are his fiscal and broader financial plans.

1:24.8

To explore that I spoke to Doug Elmendorf, Dean of the Harvard Kennedy School and former

1:30.1

head of the Congressional Budget Office.

1:32.4

And Doug and I were joined by our own economics editor John O'Sullivan.

1:36.6

We began by wondering about Donald Trump's attitude to the Federal Reserve.

1:42.0

Republicans tend to want a tough monetary policy, but it's difficult to imagine that sort of

1:47.0

fed being desired by someone like Donald Trump who's an economic populist.

...

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