Stubborn inflation has dogged the U.S. economy for years now. Americans are paying more for groceries, housing, healthcare, and a war in the middle east hasn’t exactly helped. Up until very recently, supply chain disruptions sent gas and fuel prices soaring. All of this may be contributing to consumer sentiment reaching an all time low last week, according to a long-running University of Michigan survey.
So are Americans right to be glum about the economy? Are we headed towards a recession or is this a temporary discomfort? President Donald Trump has waved away economic concerns, pointing to a thriving stock market and continues to call for interest rate cuts. And if his nominee for Federal Reserve chair gets the green light in tomorrow’s Senate Banking Committee hearing, he just might get them. So who is President Trump’s pick to lead the central bank? And what might new leadership mean for inflation and the economy?
Guests:
Lydia DePillis, economics reporter for the New York Times
Patrick Harker, Former President of the Federal Reserve Bank of Philadelphia and professor at The Wharton School
