The Prof G Pod with Scott Galloway Prof G Markets: Jerome Powell, Disinflation, and Gauging the Recession Threat — with Catherine Rampell
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Aug 7, 2023 
In this captivating conversation, Washington Post columnist Catherine Rampell brings her sharp insights on the Federal Reserve's rate hikes and their implications. She discusses the curious resilience of the job market and hints at a 'Godot recession' that never seems to arrive. Rampell highlights the strong performance of the NASDAQ and low unemployment, but cautions about the looming economic uncertainty stemming from global events and demographic shifts. She proposes immigration as a vital strategy to address pressing economic challenges.
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Economic Resilience and Inflation
- The economy has performed better than expected, with strong job growth and lowered headline inflation.
- However, core inflation remains high, requiring continued Fed action.
US Economic Outperformance
- The US economy is outperforming many others, with lower inflation and better job growth than peer countries.
- Factors include energy independence, early Fed rate hikes, and Europe's vulnerability to the war in Ukraine.
Drivers of Disinflation
- Disinflation in the US is attributed to energy independence, renewable energy investments, and earlier Fed action.
- It is too early to determine AI's impact on job growth and inflation.