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In a rare and unprecedented move, the Justice Department launched a criminal investigation into Federal Reserve Chair Jerome Powell, allegedly over building renovations, but widely seen as a political attempt to pressure Powell on monetary policy, which Powell forcefully rejected in a viral video statement.
Justin Wolfers provides a critical analysis of Trump's first year back in office, highlighting potential long-term economic and institutional damage through AI disruption, tariff policies, and weakening of international relationships.
Justin Wolfers explains why Trump's proposed $2,000 tariff dividend is economically nonsensical, highlighting the illogical nature of a policy that would collect tariff revenues only to redistribute them back to Americans in an amount greater than the total collected.
In this episode of Prof G Markets, economist Justin Wolfers discusses the potential economic impact of AI, highlighting both its transformative potential and the critical importance of ownership and distribution of its benefits. The conversation explores how AI could either lead to widespread prosperity or exacerbate economic inequality, depending on policy decisions and market structures.
Here's a two-sentence description for the episode: The U.S. government takes a 10% stake in Intel, sparking debates about government intervention in the private sector, while Federal Reserve Chair Jerome Powell signals potential rate cuts at the Jackson Hole conference. Meanwhile, OnlyFans reports impressive financial growth, highlighting its success in capitalizing on societal trends of loneliness and digital intimacy.