The Coolest Thing in the World for an Econ Nerd
Slate News
Slate Podcasts
4.5 • 6K Ratings
🗓️ 28 November 2025
⏱️ 53 minutes
🧾️ Download transcript
Summary
This week: Chicago Fed President Austan Goolsbee joins Felix Salmon, Elizabeth Spiers, and Emily Peck for an in-depth discussion on what exactly the Fed does. They’ll get into how voting and deliberation works at the FOMC, the different eras of the Fed’s communication strategy, his response to the Fed haters, and Data Dogs vs Data Cats.
In the Slate Plus episode: Austan Goolsbee Interview Post-Mortem.
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Podcast production by Jessamine Molli and Cheyna Roth.
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Transcript
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| 0:00.0 | Hello and welcome to a very special Thanksgiving episode of Slate Money, your guide to the Business and Finance News of the Week. |
| 0:18.0 | I'm Felix Samuel of Bloomberg. I'm here with Elizabeth Spires of New York Times. |
| 0:22.6 | Hello. |
| 0:23.6 | I'm here with Emily Peck of Axios. |
| 0:25.6 | Hello, hello. |
| 0:26.6 | And we are going to be talking this week |
| 0:29.6 | with the president of the Chicago Fed. |
| 0:33.6 | We are going to be talking to Austin Goulsby, |
| 0:36.6 | who probably needs no introduction. He's been in the |
| 0:40.1 | headlines, well, ever since the Obama campaign in 2008, when he was advising the candidate Obama |
| 0:46.9 | on economic policy, he went into the White House. He has now switched over to monetary policy. |
| 0:51.8 | We're going to talk about that switch. We're going to basically talk about what is the Fed. |
| 0:56.0 | He is a voting member, some of the time, on the open market committee that sets interest rates. |
| 1:01.0 | We're going to ask, how do they set interest rates? What do they think about? |
| 1:04.0 | What happens in the room? |
| 1:06.0 | How have things changed since the days of Volker and Greenspan? |
| 1:10.0 | And then do stick around for this slate Plus segment where Emily and Elizabeth and I try and |
| 1:15.5 | work out what we just heard from Austin, we unpack the whole thing and manage somehow inevitably |
| 1:20.9 | to talk about avocado toast. |
| 1:23.1 | It all comes back to avocado toast. |
| 1:24.9 | It's a really, really good conversation. |
| 1:27.4 | So stay tuned. It's all coming, really good conversation, so stay tuned. |
... |
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