Plain English with Derek Thompson

U.S. Economy FAQ: Skyrocketing Insurance Prices, Stuck Inflation, Higher Rates, and Wrong Experts

Apr 16, 2024

Jason Furman, a Harvard economics professor and inflation expert, dives into pressing economic issues. He explains why home and auto insurance prices have surged dramatically. Furman also reveals why inflation stagnated in 2024, debunking misconceptions from previous forecasts. He discusses the persistent high prices that hinder disinflation and speculates on the future trajectory of interest rates, predicting they may remain elevated for years to come. His insights shed light on the complex relationship between consumer sentiment and economic realities.

47:27

Episode guests

Jason Furman

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Highlights

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Inflation has stagnated at high levels impacting consumer spending.

Surge in insurance and repair costs for homes and cars due to various factors.

Shift towards higher interest rates and importance of addressing fiscal policies for economic stability.

Deep dives

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Rising Costs of Home and Car Ownership

01:33

Personal Discontent Amid General Progress

01:00

Global Inflation Trends

00:38

Implications of Increasing Government Interest Payments

01:05

Intro

2min

Navigating Economic Complexities: Inflation and Consumer Sentiment

26min

The Interplay Between Auto Insurance Prices and Vehicle Costs

2min

Understanding Inflation Trends: The Role of Auto Insurance and Core Rates

3min

Navigating Inflation Targets and Interest Rates

4min

Navigating Rising Interest Rates and Fiscal Challenges

11min

Jason Furman, a professor of economics at Harvard, returns to the show to discuss the biggest economic questions of the moment, including:

- Why have home and auto insurance prices skyrocketed?

- Why did inflation stop falling in 2024?

- How did economic experts get their disinflation forecasts so wrong?

- What sticky-high prices are preventing further disinflation?

- Are interest rates going to be higher for years?

If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com.

Host: Derek Thompson

Guest: Jason Furman

Producer: Devon Baroldi

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Plain English with Derek Thompson

U.S. Economy FAQ: Skyrocketing Insurance Prices, Stuck Inflation, Higher Rates, and Wrong Experts

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Pop Girl Spring on Every Single Album

Inflation's Stalled Decline

The Rising Costs of Home and Auto Ownership

Neutral Interest Rates and Economic Challenges

A Looming Crisis in U.S. Debt Management

Upcoming Fiscal Challenges and Social Security

Rising Costs of Home and Car Ownership

Personal Discontent Amid General Progress

Global Inflation Trends

Implications of Increasing Government Interest Payments

Remember Everything You Learn from Podcasts