The Daily

Inflation Is Way Down. Is It by Design or Just Luck?

Jun 20, 2023

Jeanna Smialek, a Federal Reserve correspondent for The New York Times, dives into the recent drop in U.S. inflation rates, now at a two-year low. She explores whether this decline is due to intentional policies or just a stroke of luck. The discussion touches on the Fed's interest rate strategy, the complexities of the rental market, and ongoing challenges like inflated service costs. Smialek emphasizes the importance of sustained economic policies in achieving stability, rather than relying on chance events.

23:54

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Jeanna Smialek

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Episode notes

Intro

2min

Interest Rates and Inflation: Policy or Luck?

5min

Inflation Trends and Central Bank Policies

4min

Inflation and Rental Markets

7min

Federal Reserve's Interest Rate Dilemma

4min

The Necessity of Policy in Economic Stability

4min

Rapid inflation has been a problem in the United States for more than two years, but the tide appears to be turning. Annual inflation is now less than half of what it was last summer.

Jeanna Smialek, who covers the Federal Reserve and the U.S. economy for The Times, discusses whether the decline is a result of careful policymaking, or more of a lucky accident.

Guest: Jeanna Smialek, a Federal Reserve correspondent for The New York Times.

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