During the Christmas season, it’s natural to think about joy, generosity, and prosperity. But it’s also a moment to reflect on restraint, discipline, and the long-term health of our economy.

In this episode of Modern Age, Dan McCarthy examines President Trump’s plan to lower interest rates and appoint a Federal Reserve chair who would pursue easier credit. While lower rates can give the economy a short-term boost, they also carry serious risks including inflation, reckless investment, and long-term instability.

Drawing on economic history, conservative political thought, and the lessons of the Christmas season itself, Dan explains why prosperity cannot be built on cheap money alone, and why discipline and sound credit matter more than quick fixes.

Modern Age looks beyond the headlines to explore the deeper philosophical questions behind today’s economic debates.