Transcript: David Woo on What the Economists Got Wrong About the Stimulus

The macro situation is incredibly confusing right now. We're still millions of jobs short of where we should be, and yet inflation remains quite elevated. There are signs that the recovery remains robust, and yet also concerns about the Delta Variant and other emerging headwinds. Meanwhile, the Fed is supposed to be operating under a new framework that it unveiled last year at Jackson Hole. On this episode we spoke with David Woo, a former strategist at Bank of America, who is now blogging at his own site David Woo Unbound. Transcripts have been lightly edited for clarity.