On today's episode: the state of American politics and the future of America's economy. Derek discusses a media myth in the aftermath of the failed Trump assassination attempt and reviews three basic truths about Joe Biden's doomed presidential bid. Then, Chicago Fed president Austan Goolsbee joins the show to answer Derek's blunt question, "Are you going to cut rates next month?" Plus, they discuss the Federal Reserve, how it works, how he sees the economy, whether high rates are constraining housing production, and whether Trump's signature economic policy idea—high tariffs in an age of global inflation—would help the U.S. economy. (TLDR: No.)

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

Host: Derek Thompson

Guest: Austan Goolsbee

Producer: Devon Baroldi

Links:

“Stop Pretending You Know How This Will End,” Derek Thompson, The Atlantic

“Hit or Miss? The Effect of Assassinations on Institutions and War,” by Benjamin Jones and Benjamin Olken

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