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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A Grand Unified Theory of Cultural Stagnation

A Grand Unified Theory of Cultural Stagnation

One of my favorite theories about the modern world is the idea that culture is "stuck." Whether the decline of ornamentation in modern architecture, or the fact that every corporate logo looks the sam...

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The American Math Crisis

The American Math Crisis

The University of California San Diego is one of the best public colleges in America. So it was fairly shocking when the school released a report on the steep decline in academic preparedness of its f...

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How Superintelligent AI Could Upend Work and Politics

How Superintelligent AI Could Upend Work and Politics

Many AI experts believe that some time in the next few years, we will build something close to artificial general intelligence (AGI), a system that can do nearly all valuable cognitive work as well as...

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Everything Is Television

Everything Is Television

Sometimes, the perfect guest to discuss your own writing is ... you. On this special crossover episode, I am interviewed by Ben Smith and Max Tani of Semafor's Mixed Signals podcast about my recent es...

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Are Young People Screwed?

Are Young People Screwed?

Youth unemployment is rising. Hiring is freezing up. The housing market is a mess. How did things get so bad for young people in the economy? And are things as bad as they seem? Michael Batnick and Be...

12 Nov 202552min

The Democrats Have a New Winning Formula

The Democrats Have a New Winning Formula

This week was a straight flush for Democrats. Zohran Mamdani completed his heroic arc to become mayor of the world’s most important city. Democrats ran up huge margins in the big governor races in Vir...

7 Nov 20251h

How the American Revolution Changed the World, With Ken Burns

How the American Revolution Changed the World, With Ken Burns

Ken Burns—the award-winning filmmaker whose documentary films and television series on American history include 'The Civil War' (1990), 'Baseball' (1994), 'Jazz' (2001), and 'Country Music' (2019)—joi...

4 Nov 202559min

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...

31 Okt 202554min

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