Pitchfork Economics with Nick Hanauer cover image

Pitchfork Economics with Nick Hanauer

Setting the record straight on inflation (with Mike Konczal)

Oct 3, 2023
Economist Mike Konczal from the Roosevelt Institute sets the record straight on inflation, explaining the causes behind the recent decline in prices. The podcast explores the impact of inflation on American families, controversies surrounding the target inflation rate, and the role of the Federal Reserve. It also discusses stock buybacks, low productivity, hopes for economic recovery, and the need for fiscal policy in controlling the economy.
50:32

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Higher prices in the economy are a result of global supply chain shock, not inflation.
  • The decline in inflation is primarily driven by supply side expansion and normalization of supply chains.

Deep dives

The Impact of Supply Chain Shock on Inflation

The podcast episode discusses how higher prices in the economy are a result of a global supply chain shock rather than inflation. The speaker argues that the distance between income and necessary spending is narrow for most American families, which makes higher prices a significant challenge. The conversation highlights the misconceptions around inflation and criticizes the policy prescriptions that advocate for throwing workers out of jobs as a solution. It emphasizes that the supply side expansion and the normalization of supply chains are the primary drivers of the decline in inflation.

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