The Fed could use an assist

Make Me Smart

Marketplace

News, Business

4.6 • 5.4K Ratings

🗓️ 27 July 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve could put a quick end to inflation on its own, economist Claudia Sahm says, but be careful what you wish for. Remember that thing we were talking about yesterday? Sahm, formerly of the Fed and the White House, now the founder of Sahm Consulting, says the central bank can only do so much to tame prices without throwing the economy into recession. For this week’s deep dive, she tells us some ways Congress can pitch in.

Here’s everything we talked about on the show today:

“Don’t make the Fed go it alone on inflation” from Stay-At-Home Macro
“Will the Fed Cause a Recession? Not Necessarily, if Biden’s White House Acts” from Barron’s
“The Agony of an Early Case of Monkeypox” from The New Yorker
“W.H.O. Declares Monkeypox Spread a Global Health Emergency” from The New York Times
“China Targeted Fed to Build Informant Network, Access Data, a Probe Says” from The Wall Street Journal

Have any thoughts on the show? Something interesting to share, or perhaps an answer to the Make Me Smart question? Email us at [email protected] or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.

Transcript

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0:00.0	I'm ready.
0:01.0	Hey everyone, I'm Kai Rizzo, welcome back.
0:11.2	Welcome back to most of you, I hope.
0:13.3	If it's your first time, why?
0:14.5	What took you so long?
0:15.5	Anyway, none of us is as smart as all of us as we do on this bond.
0:18.8	Hey everyone, I'm Samantha Fields.
0:21.0	I'm in for Kimberly Adams today.
0:22.8	It is Tuesday, which means it's deep dive day and today's topic is inflation.
0:27.5	The Fed has expected to raise interest rates again tomorrow in its push to fight inflation.
0:32.7	Of course, it's the Fed's main tool, but it is also a pretty blunt one.
0:37.2	So what we're going to talk about today is what else can be done about inflation without
0:43.8	Drone Powell and the gang at the Federal Reserve because powerful though they are, they cannot
0:49.4	do the whole smash.
0:50.4	Here to help us out with what that might look like is Claudia Somme.
0:54.0	She's the founder of Somme Consulting, also a former economist at the Federal Reserve,
0:57.0	by the way, and at the White House.
0:59.0	You can find her on Substack.
1:00.6	Their newsletter is Stay at Home macro, which Claudia, I have to tell you, it wasn't until
1:04.7	yesterday on Twitter where I saw somebody point this out.
1:07.7	Stay at Home macro, Spell Somme, which I love.
1:10.5	Yep.
	...

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