"If the geopolitical disturbances create lasting and wrenching changes in the global economy, then hopes for a rapid return to normalcy may soon fade."

>"The longer the Fed waits, the more painful it will be to bring inflation back down to target."

"Simple macroeconomic theory can actually explain this inflation pretty well. But there's still a lot more we need to learn about inflation."

There are a lot of great points in this interview. Please read >"The response to COVID-19 proved that the federal government is far more capable of managing the economy than many people thought. What happens now that Bidenomics faces _...Read More_

"The costs of most of the core raw chemicals that make up just about everything we use are skyrocketing and show no sign of future relief."

>"For a just economy, the U.S. government needs to build modern inflation indicators that allow policymakers and central bankers to better understand how inflation impacts different demographic groups."

>"Fighting inflation does not require giving up against COVID-19: It requires doubling down on the fight."

>"By helping abate the liquidity crisis, incidences of banks becoming insolvent are reduced, and hence moral _...Read More_

What is a payment system, and how does it relate to macroeconomics? Succinct discussion of balance sheets that will be helpful to any student of monetary policy.

"Just as there is a season for very stimulative economic policies, so too there is a season for economic policy restraint. That season is upon us."

"Specifically, the central challenge to Powell in his second term will be walking the fine line between controlling inflation and rising prices while also being careful not to raise interest rates in a way that curbs economic growth, causes _...Read More_

"While supply-chain problems are pushing up prices by creating an imbalance between what people produce and what they want to consume, inflation has causes that go far beyond this issue."

"Mathematical refinement aside, economics is back to where it was a century ago: the study of the allocation of given resources, plus the quantity theory of money. Macroeconomics – the theory of output as a whole, which was invented by John _...Read More_

"The real risk is that the Fed is already behind the curve and that it will require a lot more rate hikes than financial markets expect to bring rising inflation expectations under control."

"Once supply chain disruptions are straightened out as manufacturers increase their production and distributers move their products faster, shortages are bound to ease."