Is the Federal Reserve Making a Huge Mistake?

Is the Federal Reserve Making a Huge Mistake?

Last week the Federal Reserve raised interest rates by 0.75 percentage points, continuing one of the fastest escalations of the benchmark rate in history. Jerome H. Powell, the Fed chair, warned that more pain was to come as the central bank fixes its eye on Sauron on our core inflation. But the theme of this episode is that U.S. interest rate policy does not stop at the U.S. border. Our monetary policy is a lever that moves the world. Soon after the Fed’s announcement last week, the British pound crashed, oil prices fell, currencies (crypto- and otherwise) fell, and the possibility of a global downturn came ever slightly into greater focus. Today’s guest is Jason Furman, the Harvard economist and former top economic adviser to President Barack Obama. We talk about the state of the U.S. economy, why the Fed is doing what it’s doing, the best arguments against rising interest rates, the global fallout of U.S. monetary policy, and the possibility that the world economy is headed for a dark, dark winter. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. You can find us on TikTok at www.tiktok.com/@plainenglish_ Host: Derek Thompson Guest: Jason Furman Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

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How the American Revolution Changed the World, With Ken Burns

How the American Revolution Changed the World, With Ken Burns

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The Problem With Sports Gambling

The Problem With Sports Gambling

Last week, an FBI investigation into gambling led to the arrest of several prominent basketball stars, raising questions about the state of legalized sports betting, which has enriched professional sp...

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Michael Lewis on How the Global Financial Crisis Explains Trump, Crypto, and Everything Else

Michael Lewis on How the Global Financial Crisis Explains Trump, Crypto, and Everything Else

Bestselling author Michael Lewis joins the show to talk about how bubbles happen, the legacy of 'The Big Short' and the global financial crisis, 'Moneyball' and how the data analytics revolution conqu...

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What Happens When AI Learns to Do Our Jobs

What Happens When AI Learns to Do Our Jobs

Today’s guest is Ethan Mollick. Ethan is a professor of management at Wharton, where he specializes in entrepreneurship and innovation. He is the author of the book 'Co-Intelligence: Living and Workin...

24 Loka 202554min

Can "Touch-Grass Populism" Save America?

Can "Touch-Grass Populism" Save America?

By some measures, the Democratic Party has never been so unpopular as a political brand. While this fact obviously reflects some difficult realities for the party, it also creates an opportunity for D...

21 Loka 202559min

Everybody Thinks AI Is a Bubble. What If They’re Wrong?

Everybody Thinks AI Is a Bubble. What If They’re Wrong?

Two weeks ago, in one of our most popular podcasts of the year, the investor and author Paul Kedrosky explained why he thinks AI is a bubble. In the last few days, practically everybody seems to agree...

17 Loka 202552min

The Future of Entertainment, Part 2: What’s the Matter With Broadway?

The Future of Entertainment, Part 2: What’s the Matter With Broadway?

In the second episode of our two-part miniseries on the future of entertainment, Derek goes from Hollywood to NYC to understand why Broadway musicals are in trouble. "With the cost of staging song-and...

14 Loka 202547min

The Future of Entertainment, Part 1: Is Hollywood's Business Model Broken?

The Future of Entertainment, Part 1: Is Hollywood's Business Model Broken?

The film and TV business has quietly—or, if you work in the industry, not so quietly—been in a depression for the past few years. Original TV work has plummeted. In 2024, Americans bought about 40 per...

10 Loka 202546min

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