Masters in Business
At the Money: Chicago Fed President Austan Goolsbee on Tariffs, Supply Chains and Inflation
Mar 5, 2025
Austan Goolsbee, President of the Chicago Federal Reserve and former chairman of the Council of Economic Advisors, dives into the complexities of tariffs and their inflationary effects. He discusses the challenges of navigating supply chains, particularly in the auto industry, and examines the housing market's struggles with regulation and underbuilding. Goolsbee also reflects on the critical 2% inflation target, emphasizing a data-driven approach to monetary policy and urging investors to grasp the intricate nature of current economic conditions.
37:56
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Quick takeaways
- Managing inflation without triggering a recession involves understanding unique economic dynamics rather than relying solely on historical models.
- Tariffs pose risks of increasing inflation and affecting economic activity, influencing the Federal Reserve's decisions on interest rates.
Deep dives
The Role of Mentorship and Support Systems
Mentorship and support systems play a crucial role in personal and professional development. Individuals often look up to mentors and idols who may appear to have all the answers, yet they recognize the value of asking questions and seeking help when needed. This highlights the significance of support networks in overcoming challenges and breaking the stigma associated with seeking help, particularly in mental health. The discussion encourages the idea that therapy is an investment in oneself, providing a consistent source of guidance through life's challenges.
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