This is a

exchange at Goldman Sachs and I'm Allison Nathan a senior strategist in Goldman Sachs research.

For this week's episode, I'm delighted to welcome a senior strategist in Goldman Sachs research.

For this week's episode, I'm delighted to welcome

back Jan Hatzius, the firm's chief economist

and global head of research, to discuss the economy,

takeaways from Jackson Hole,

and his views on economic growth and inflation.

Jan, welcome back to the program.

Hi, Allison, good to be on.

So let's start with last week's Fed Conference in Jackson Hole, Wyoming, which is, of course, a closely

watched annual meeting held by the Kansas City Fed.

What were your key takeaways from the conference?

And did anything Chair power say surprise you?

Not much no it was pretty much in line with what we had thought coming out of the

minutes of the last everyone'sronsee meeting in July. I think if you take what Chair Paul said and what we saw in the minutes,

there are two key points about the timing of tapering of asset purchases.

One is that they want to get started this year,

which basically means that they probably

have to announce by November.

And number two, according to the minutes,

they will provide advanced notice of tapering,

...