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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2022 Is Off to a Terrible Start for Democrats

2022 Is Off to a Terrible Start for Democrats

Legendary journalist James Fallows joins to discuss the filibuster wars, Democrats’ Voting Rights Act, the political outlook for Joe Biden and the Democrats, and the media’s negativity bias (as exempl...

21 Jan 202241min

The Biggest Losers of the Streaming Wars: ESPN, Movie Theaters, Peacock, and More

The Biggest Losers of the Streaming Wars: ESPN, Movie Theaters, Peacock, and More

Do movie theaters have a future? What should Disney do with ESPN? And is anybody watching Peacock? Derek’s favorite entertainment-media analyst Rich Greenfield joins the pod to talk about the future o...

18 Jan 202249min

Everybody Was Wrong About Inflation

Everybody Was Wrong About Inflation

Okay, almost everybody. The Biden administration was wrong. Many critics of the Biden administration were also wrong. The Federal Reserve was wrong. Investors were wrong. Banks were wrong. And Bitcoin...

14 Jan 202243min

Omicron: Feelings vs. Facts

Omicron: Feelings vs. Facts

Derek talks about the rise of the "Vaxxed and Done" movement before reviewing the latest omicron data with John Burn-Murdoch, data superstar at the Financial Times. Host: Derek Thompson Guest: John Bu...

11 Jan 202236min

The Biggest Inventions of the 2020s: Cancer Vaccines, Flying Cars, Space Travel, and More

The Biggest Inventions of the 2020s: Cancer Vaccines, Flying Cars, Space Travel, and More

Let’s kick off the new year with a bit of techno-optimism! After a miserable start to this decade, we can still have a Roaring Twenties. In this episode, ‘Plain English’ presents a tour of the frontie...

7 Jan 202254min

The Four Ways That America Is Polarizing

The Four Ways That America Is Polarizing

David Frum joins Derek to talk about rising and falling polarization by race, gender, education, and place—and what it tells us about America's strange new politics. Host: Derek Thompson Guest: David ...

28 Dec 202138min

The Four Biggest Myths of the U.S. Economy. Plus, Omicron in 100 Seconds.

The Four Biggest Myths of the U.S. Economy. Plus, Omicron in 100 Seconds.

Morgan Housel, Collaborative Fund partner and author of the bestseller 'The Psychology of Money,' joins the pod to debate what we're getting wrong about inflation, the Great Resignation, robots, and i...

21 Dec 202146min

Elon Musk Is the Person of the Year. Who Is the Person of the Century?

Elon Musk Is the Person of the Year. Who Is the Person of the Century?

New York Times tech columnist Kevin Roose is back to talk about the Age of Elon, why tech’s most famous founders are acting so weird, and why I’m wrong about remote work. Plus, a 2022 prediction. Host...

17 Dec 20211h 4min

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