Remember the $5 footlong? Thank behavioral economics.

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 25 August 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

How much should a sandwich cost? How about a fast food drink? A gallon of gas? Turns out, behavioral economics shapes how much we think something should cost and explains why it’s hard to adjust those prices for inflation. We also dissect Fed Chair Jerome Powell’s Jackson Hole Symposium speech and hear why squashing the last bit of inflation is so tricky.

Transcript

Click on a timestamp to play from that location

0:00.0	What if J. Powell gave a big speech?
0:04.4	The business and economic world hanging on his every word, and it turns out to be basically
0:11.9	the same speech he always gives.
0:15.6	From American public media, this is Marketplace.
0:26.3	In Los Angeles, I'm Kyle Rizdal.
0:31.1	It is Friday.
0:32.1	Today, this one is the 25th of August, good as always, to have you along.
0:36.4	Everybody, Jackson Hole, Wyoming is the date line on that J. Powell speech today.
0:41.0	The Federal Reserve's annual retreat to talk all things macroeconomic, kind of like we
0:45.9	do here every Friday, except without the mountain views.
0:50.2	City Breedy is at Politico, Neal Richardson's at ADP, and also not for nothing, she is in
0:55.5	Jackson Hole this weekend.
0:56.5	Hey, you too.
0:57.5	Hi, Kyle.
0:58.5	Hi, Kyle.
0:59.5	So, Neal, is it fun up there, or are you just going to a bunch of symposiums?
1:06.9	I'm going to a bunch of symposiums and talks, and it is really, really fun.
1:12.0	And the views are spectacular.
1:14.0	I'm sure it doesn't.
1:15.0	And the views are great.
1:16.0	I'm Envia.
1:17.0	So look, you were presumably in the room for Powell's speech today, what do you think?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.