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How Do We Fix the Economy?
Aug 14, 2024
Join Jared Bernstein, Chair of President Biden's Council of Economic Advisors, and Daniel from the National Economic Council as they tackle pressing economic issues. They break down the current state of inflation and its indicators like CPI and PPI. The duo dives into labor market dynamics and discusses the urgent need for effective housing policies. Key topics include wealth inequality, the importance of tax reform, and innovative solutions for rental affordability, emphasizing how thoughtful government policy can positively impact everyday consumers.
25:03
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Quick takeaways
- The slowing trend in inflation, highlighted by decreasing consumer prices, indicates a need for informed policy actions to alleviate ongoing economic pressures.
- Policymakers are focusing on expanding the housing supply and proposing rental policies to address the urgent affordability crisis faced by consumers.
Deep dives
Inflation Trends and Economic Indicators
Recent economic data points to a promising trend in inflation rates, with notable decreases in consumer prices across various goods, including grocery and energy prices. Both the consumer price index (CPI) and producer price index (PPI) indicate that while inflation is being driven primarily by housing costs, overall inflation is slowing down, reflecting a wider trend observed in other economies as well. This slowdown in inflation is largely welcomed, as evidenced by a recent New York Fed survey showing reduced public expectations for future inflation. Despite positive indicators, the overall economic landscape remains complicated, as many consumers still feel the strain of high prices, emphasizing the need for informed policy action to address these ongoing inflationary pressures.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode