Slate Money The Nerds' Last Stand at the Fed
43 snips
Sep 20, 2025 Neil Irwin, an economics reporter at Axios and Fed expert, joins the hosts to unravel the complexities of a recent Federal Reserve meeting marked by unexpected dissent. He examines the implications of new political pressures and the challenges faced by the Fed's independence. The conversation shifts to the rising costs of premium credit cards, exploring why brands like Amex are hiking fees and the allure of exclusive perks. They also tackle the bankruptcy of Publishers Clearing House and the fallout for 'lifetime' winners who now face uncertain futures.
AI Snips
Chapters
Transcript
Episode notes
New Gov's Dissent Shakes The Fed
- Stephen Myron's dissent signaled an early attempt to reshape Fed policy and align it with the White House.
- His public appearances and a low dot projection show a politicized push for much lower rates.
Jobs Slowdown Drove The Cut
- The Fed cut 25 bps mainly because the labor market shows signs of softening.
- Peripheral indicators like weak job growth and slowing wage gains motivated a preemptive rate cut.
Board Dynamics Can Curb Radical Change
- Some Trump appointees like Waller and Bowman resisted radical cuts, providing institutional constraints.
- A mixed board could limit extreme shifts even if political pressure rises.