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The Seen and the Unseen, hosted by Amit Varma, features longform conversations that aim to give deep insights into the subjects being discussed. Timeless and bingeworthy.
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PREVIEW: Tariffs, Inflation, and the Federal Reserve
Guest: John Cochrane
John Cochrane discusses the Federal Reserve's dilemma regarding tariffs and inflation. Tariffs are expected to cause a one-time rise in prices, which the Fed may overlook, but this complicates efforts to control persistent inflation, currently stuck at 3%. The President is seeking lower interest rates primarily to reduce debt service costs, adding pressure on the Fed to ease its stance. The challenge lies in distinguishing between temporary price increases from tariffs and underlying structural inflation that requires sustained monetary restraint. This dynamic tension between political demands and Federal Reserve independence remains a critical concern for economic policy moving forward.
Guest: John Cochrane
John Cochrane discusses the Federal Reserve's dilemma regarding tariffs and inflation. Tariffs are expected to cause a one-time rise in prices, which the Fed may overlook, but this complicates efforts to control persistent inflation, currently stuck at 3%. The President is seeking lower interest rates primarily to reduce debt service costs, adding pressure on the Fed to ease its stance. The challenge lies in distinguishing between temporary price increases from tariffs and underlying structural inflation that requires sustained monetary restraint. This dynamic tension between political demands and Federal Reserve independence remains a critical concern for economic policy moving forward.
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