Skanda Amarnath is the executive director of Employ America, an organization that advocates for strong labor markets. He recently published a research note titled "What Are You Expecting? How The Fed Slows Down Inflation Through The Labor Market", in which he and co-author Alex Williams explores how the Federal Reserve's tools work to influence employment outcomes and the prices of goods and services.

Skanda joins Cardiff to discuss:

— The definition of full employment

— How to investigate all the competing theories for what really causes inflation

— The specific channels through which monetary policy affects inflation

— What the Fed should do now to combat high inflation in the US

— What Skanda has learned about monetary policymaking in the pandemic era

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How monetary policy works (and doesn't) 47:27 Share

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How monetary policy works (and doesn't)