Inflation Frustration as Fed Cuts Rates

2024/9/19

The Weekly Show with Jon Stewart

AI Deep Dive AI Chapters Transcript

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Jason Furman

Jon Stewart

Kitty Richards

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Jason Furman: 通货膨胀率已下降至2%左右，接近美联储目标。但经济中存在一些裂痕，例如失业率上升，美联储正在权衡通货膨胀和衰退风险。美联储加息降低了通货膨胀，但同时也增加了住房、学生贷款等成本。政府在疫情期间的需求侧刺激导致了通货膨胀，因为需求增加超过了供应。企业利润增加主要是因为政府向消费者提供了大量资金，而不是行业整合。美联储控制通货膨胀的主要方式是控制通货膨胀预期，而不是通过减少人们的购买力。政府支出增加赤字，推高利率，这与美联储的加息政策相冲突。提高企业税和对富人征税是降低利率和减少赤字的有效途径。 Kitty Richards: 通货膨胀并非单一因素导致，而是多种因素共同作用的结果，包括住房成本上升、企业利润激增、供应链中断、食品和能源价格上涨等。美联储加息导致住房成本上升，加剧了通货膨胀。企业利用市场力量提高价格，而不是提高员工工资，行业整合加剧了这种现象。紧急租金援助等政策避免了大规模驱逐，对通货膨胀的影响有限，但对人们的长期经济福祉至关重要。对富人和企业的税收是控制通货膨胀的有效工具，2017年特朗普政府的减税政策加剧了企业获利，从而加剧了通货膨胀。政府对企业的财政刺激往往流向股票回购，而不是流向消费者，而对消费者的刺激则会导致通货膨胀。将制造业外包到劳工保护较弱的国家，导致供应链中断，加剧了通货膨胀。美联储加息幅度过大且持续时间过长，对劳动力市场造成负面影响，导致失业率上升。政府支出对通货膨胀的影响取决于支出的具体内容，例如，对儿童保育的补贴可以降低通货膨胀。

Deep Dive

Chapters

Jon Stewart discusses inflation with Kitty Richards and Jason Furman. They debate the Federal Reserve's role in controlling inflation and its impact on the economy.

The Federal Reserve is expected to cut interest rates.
Inflation is a complex issue with various contributing factors.
Experts have differing views on the effectiveness of monetary policy in controlling inflation.

Shownotes Transcript

Inflation has eased, but many Americans aren’t feeling the relief. Their concern is front and center this election, where the economy remains the pivotal issue for voters. As the Federal Reserve cuts rates this week, we delve into competing views on the root causes of recent price surges, the Fed's response to those surges, and the effects of demand-side vs. supply-side stimulus on the American economy. Joining us for a lively conversation are Kitty Richards, Senior Fellow at Groundwork Collaborative and Former Treasury Official, and Jason Furman, Aetna Professor of the Practice of Economic Policy at Harvard University.

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Host/Executive Producer – Jon Stewart

Executive Producer – James Dixon

Executive Producer – Chris McShane

Executive Producer – Caity Gray

Lead Producer – Lauren Walker

Producer – Brittany Mehmedovic

Video Editor & Engineer – Rob Vitolo