i think many people's intuition goes wrong with inflation, especially now you've identified it as a supply side phenomenon. People are so used to thinking about demand that they don't think about supply. All these intuitions, i think, get us wrong. And then there's a second element before we get to your nice landing of four %, is there is a sense in which these things can spiral. I think there's like this wage priced spiral dynamic that can break out, and expectations can get out a hand. So in a way, i kind of feel like we all should take a little chill pill for the next 12 months and try to figure out the supplies,. How do we get
Felix and Mihir discuss the turmoil in financial markets and how best to respond as an investor or a corporate executive. Is it time to panic? What is the longer-term outlook for the economy? Will the Federal Reserve be able to tame inflation without causing a recession? They also discuss the fate of Upstart, an AI-supported lending platform. The former Wall Street darling lost much of its value, seemingly overnight. Can Upstart recover? Are we really better off with more consumer credit?