In the United States, Black Americans have experienced persistently higher levels of unemployment than their White counterparts. While the Fed has focused on aggregate unemployment levels, racial disparities has historically not been a major focus. On this episode, our guest says it should be. Massachusetts Representative Ayanna Pressley argues that monetary policy can and should be a tool of ending racial inequality. She discusses the history of this idea, and how it can work in practice. Pressley also talked to us about progressive economic policies for the future.See omnystudio.com/listener for privacy information.

The pandemic has been brutal for restaurants and other indoor entertainment venues. So imagine running a space that's a restaurant, a bowling alley, an arcade, and bar all in one. Our guest on this episode does just that. Adam Ozimek is the co-founder of Decades in Lancaster, Pennsylvania. He's also the chief economist at online freelance marketplace UpWork. We talked about the crisis from the micro-perspective (running the space) and the macro-perspective (what he sees in the broader economy right now). He also explained what we need from a policy perspective to save the restaurant industry right now.See omnystudio.com/listener for privacy information.

For years, people have identified the lack of fiscal transfers and fiscal burden sharing as one of the glaring architectural flaws of the European economy (particularly within the eurozone). One positive that may result from this crisis is the potential for that to change. Last month, EU governments made an agreement to establish a recovery fund that would see wealthy, thriving countries (like Germany) directly aid in the economic recovery of countries that are struggling (such as Italy). It’s something people hoped to see during the eurozone crisis of nearly a decade ago, but which never quite panned out. On this episode, we speak with former ECB Vice-President Vítor Constâncio about the historic step, and the future for central banking at a time when fiscal firepower is becoming even more important.See omnystudio.com/listener for privacy information.

In light of the massive disruption to the economy, there’s a widespread view that things have been permanently altered, that fiscal policy must take a more active role in economic stabilization, and that the job of central banks will inevitably change. While this is a trendy thing to say now, the guest on this episode has been anticipating it for a while. Viktor Shvets is a Managing Director at the investment bank Macquarie Group Limited and the author of the new book, The Great Rupture: Three Empires, Four Turning Points, and the Future of Humanity. He explains how the old model of economic growth, which he argues widened inequality by being dependent on the growth in asset values, must give way, and that an attempt to return to to the pre-crisis model will be a disaster.See omnystudio.com/listener for privacy information.

For years, macro hedge fund managers have been stalking the Hong Kong Dollar. Since 1983, the currency has been pegged at around 7.75 per US dollar, and it basically has never budged from that. But that hasn’t stopped investors from taking big bets, with potentially major payoffs, that the Hong Kong Monetary Authority would sever the peg in some way. So why do traders keep making this bet, and is now the moment when it finally pays off? On this episode, we speak with Christopher Wiegand, the Chief Investment Officer and Co-Founder of Royal Bridge Capital, about the history of the Hong Kong Dollar, and the factors that have made betting against it such a loser over the years.See omnystudio.com/listener for privacy information.

With so many people working at home, bored, and with no sports to bet on, there’s been an incredible explosion of retail stock market trading. One service, Robinhood, in particular has gotten a lot of attention due to its free trading, and videogame-like appeal to young users. But how are they really making money on those free trades, and how does the economics of the business work these days? On this episode, we speak with Larry Tabb, the Head of Market Structure Research at Bloomberg Intelligence, who explains how it all works.See omnystudio.com/listener for privacy information.

The killers of Berta Caceres had every reason to believe they’d get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no one had been punished for the crimes. Bloomberg’s Blood River follows a four-year quest to find her killers – a twisting trail that leads into the country’s circles of power.Blood River is out now.See omnystudio.com/listener for privacy information.

Switching careers is always difficult. But former New Yorker staff writer Maria Konnikova did it in dramatic fashion. Konnikova decided that the best way to learn about the role of skill and luck in life is through poker, and so she decided to become a great poker player. And she made it happen, winning just over $300,000 in tournament play in a couple of years. On this episode, we speak with her about how she did it, and her new book, "The Biggest Bluff: How I Learned To Pay Attention, Master Myself, and Win”.See omnystudio.com/listener for privacy information.

With the virus crushing economic activity, local governments have had to cut spending and rely on Federal support in order to maintain basic services. But one town in Washington is also trying something else. Tenino, Washington has printed its own wooden currency to stimulate activity, and help out its residents and businesses that have been hit by the crisis. On this episode, we speak with Mayor Wayne Fournier about how he got the idea, how it’s going, and what he plans to do next.See omnystudio.com/listener for privacy information.

In response to the economic crisis, governments around the world have engaged in stimulative policies that might be characterized as “Keynesian” in nature. But what did Keynes really believe, and how did he form his own ideas? On this episode we speak with Zach Carter, an editor at Huffington Post, and the author of the new book The Price of Peace: Money, Democracy and the Life of John Maynard Keynes. We discussed Keynes the individual as well as his ideas and their importance today.See omnystudio.com/listener for privacy information.