May 16 (Bloomberg) -- James Galbraith, an economics professor at the University of Texas, talks with Bloomberg's Matt Miller from Austin, Texas, about the outlook for the U.S. economy and the challenges facing the next president, the impact of Federal Reserve monetary policy on inflation, and the state of the U.S. housing market. (Source: Bloomberg)

00:00 Economic challenges facing incoming president
01:42 Federal Reserve monetary policy, inflation 
02:51 Regulation versus interest rate changes
03:26 Food, energy costs impact on consumer
03:59 Housing problems "to go on for a long time."

Running time 05:06

Last Updated: May 16, 2008 09:06 EDT