Inflation is moving the wrong way

The last time Austan Goolsbee voted in an FOMC meeting, he was one of two policymakers opposed to cutting interest rates. Six months later, he doesn’t regret that dissent. In this episode, Kai catches up with the Chicago Fed president to discuss the central bank’s communication style, persistent inflation concerns, and former Fed Chair Alan Greenspan’s legacy. Plus: Beef prices are likely to keep climbing this year, it could take months to rebuild depleted oil reserves, and economists make a case that AI could drive more inflation.

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