Jim Bullard, former President of the St. Louis Fed and current Dean of Purdue University's Daniels Business School, discusses the outlook for economic growth, inflation, what the Fed should do next, and how FOMC decisions are made.
*This video was recorded on September 23, 2024
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0:00 - Intro
2:00 - Economic projections
6:15 - FOMC decision making process
9:50 - Data sources the Fed uses
12:00 - Fed funds rate projection
13:30 - Measures of inflation
17:00 - Long-term economic growth
17:45 - Soft landing in 2025?
19:10 - Neutral rate
21:53 - Recession outlook
24:20 - Senators urged Fed to cut by 75 bps
28:40 - Fed policy in 2022
31:25 - "Policy rate is too high"
33:00 - Central bank "cross-communication"
34:35 - How the Fed decided on a cut
36:18 - Risks to the economy
38:00 - Most memorable experience at the Fed