Live on Bloomberg TV

00:00Do you agree. I mean when you look at complexity and uncertainty has it always been this way. But we forget about it. Or is this really a new frontier. So is everything Augustine said about institutional progress. But I would say I would add this. We've lived through a period of disinflationary forces around the world. This is globalization aging demographics low productivity technology enabling all of that. And that was so we've been in that world where inflation was really not a problem in most of the advanced economies. Most of the time since the pandemic we've been living in a world where where the economy is being driven by very different forces. And we know that well we don't know is whether we'll be going back to something that looks more like or a little bit like what we had before. We suspect that it will be kind of a blend. But in the meantime we're we've a series of supply shocks. We've had very high inflation now across the world certainly through all the advanced economies. And we're still Augustine's point where we're learning to deal with it. We have our job is to find price stability and maximum employment in the case of the Fed in this new economy with these new forces. And it is a very different exercise than the one that we've had for the last 25 years. Nonetheless the goals are the same.

No schedule data available.

Powell Says 'We're Learning to Deal' With New Economy

Federal Reserve Chair Jay Powell explained how forces including globalization, aging demographics, low productivity, and technological developments are no longer keeping prices in check. He says the Fed is learning to deal with a new type of economy. He spoke to Bloomberg's Francine Lacqua during a panel discussion at the European Central Bank’s annual policy forum in Sintra, Portugal. (Source: Bloomberg)

Bloomberg Technology
The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Hosted by Emily Chang.
More episodes and clips