Hello, and welcome to the 12 gallons of milk episode of Slate Money, your guide to the business and finance news of the week. I'm Felix Salmon of Axios. I'm here with Stacey Marie Ishmael of Bloomberg. Hello. Hello. I'm here with Emily Peck of Fundrise. Hello. Hi. And we're going to talk about milk. We're going to talk about the price of milk. We're going to talk about the price of loss of things. We're going to talk about job growth. We're going to talk about monetary policy. We're going to talk about the price of milk. We're going to talk about the price of lots of things. We're going to talk about inflation.

We're going to talk about job growth. We're going to talk about monetary policy. We're going to talk about the economy. We're going to do one of those things because we did just have a tapering announcement from the Fed and a very strong jobs report this week. So we're going to cover all that. We're also going to talk about the big news out

of Glasgow and the big climate summit that went on there. We are going to talk about Penguin

Random House and monopsony. We are going in Sleep Plus to talk about tungsten cubes, which I can tell

you is a surprisingly fun conversation to have.

It's a pretty fun one this week, all coming up on Slate Money.

Emily, are we going to lead with milk?

Yeah, I think we should.

I mean, everyone knows what milk is.

It's not a complicated economic term. We know about milk.

What do we know about milk? By a lot of it. 12 gallons a week, right? Yeah. Okay. So we're talking about milk because CNN had a segment ostensibly about inflation in which they featured a family in Texas with nine children that goes through

12 gallons of milk a week, I guess. And the CNN dude went shopping with them at the supermarket,

which what family goes shopping all together? It was like seven people going to the supermarket.

I too take my nine children to go shopping at the

supermarket by 12 gallons of milk and then complain that milk has gone up by 40% in the past few months,

which it hasn't. The real reason we're talking about this is because this is our occasional

foray into the important yet dry world of monetary policy.

And milk makes everything wetter.

So if you thought monetary policy was dry, it's a bit like breakfast cereal.

You pour milk on it and it becomes much more palatable.

We're dunking the monetary policy, the cookie of the monetary policy in the milk of human stories.

Or something like that.

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