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Macro Musings with David Beckworth
Ernie Tedeschi on Full Employment, the US Safe Harbor Premium, and the Current Path of R-Star
Jul 1, 2024
Ernie Tedeschi, former White House economist, discusses political risks to US safe harbor premium, benefits of full employment, and trends in R-star. Topics include labor market metrics, soft landings in inflation, and implications of R-star movements on monetary policy. Ernie highlights the importance of productivity growth and efficient taxation for economic sustainability.
59:05
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Quick takeaways
- The benefits of a high employment economy include healing properties and improved labor market measures.
- Interpreting economic data accurately and independently is crucial, especially in high-pressure environments like the White House.
Deep dives
CEA Experience and Leadership
Ernie Tedeschi recounts his time at the White House's Council of Economic Advisors, highlighting the exceptional people involved, including senior academics and government economists. Working closely with leaders like C. C. Rouse and Jared Bernstein was a rewarding and enriching experience that defined his tenure.
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Discover
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