Plain English with Derek Thompson

Everybody Was Wrong About Inflation

Jan 14, 2022

Michael Batnick and Ben Carlson, both finance experts and co-hosts of the Animal Spirits podcast, dive deep into the recent surge in inflation rates, marking the highest in 40 years. They dissect how numerous analysts—including the Biden administration and the Federal Reserve—misjudged these economic shifts. The duo highlights 'meatflation' and critiques the blame on processors while unveiling complex factors driving food price hikes. Their engaging discussion also explores corporate pricing strategies and the psychological impacts of inflation on consumer behavior.

45:54

Episode guests

Ben Carlson

Michael Batnick

AI Chapters

Episode notes

Intro

2min

Inflation Predictions: A Critical Review

14min

Understanding Meatflation: Costs and Consequences

8min

Navigating Inflation: Corporate Strategies and Consumer Psychology

5min

Inflation and the Fed's Balancing Act

12min

Navigating the Complexities of Inflation in Today's Economy

3min

Okay, almost everybody. The Biden administration was wrong. Many critics of the Biden administration were also wrong. The Federal Reserve was wrong. Investors were wrong. Banks were wrong. And Bitcoin investors weren't exactly right, either. How did everybody miss the most important economic story of the year? Derek breaks down the highest inflation rate in 40 years and welcomes back his economic roundtable guests, the finance podcasters Michael Batnick and Ben Carlson.

Host: Derek Thompson

Guests: Michael Batnick & Ben Carlson

Producer: Devon Manze

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