Austan Goolsbee on How This Cycle Turned Out to Be So Different
Episode publishedPodcast: Odd LotsOdd Lots
Transcript preview
Preview only
As a real estate manager, Principal Asset Management harnesses the power of a 360 degree perspective, delivering local insights and global expertise across public and private equity and debt. Their teams apply local insights and global perspectives to help identify the most compelling investing opportunities. Principal Asset Management, actively invested. Learn more at principleam.com. Investing involves risk, including possible loss of principal. Principal Asset Management SM is a trade name of Principal Global Investors LLC.
Introducing Instagram teen accounts. Automatic protections for who can contact teens and the content they can see. Learn more at instagram.com/teenaccounts. Bloomberg Audio Studios. Podcasts,
radio, news. Hello, and welcome to another episode of the Odd Thoughts podcast. I'm Tracy Alloway.
And I'm Joe Weisenthal. Joe,
how was your deep dish pizza? It
was so good. You know, I actually don't know if I had ever really had a proper Chicago deep dish pizza before, but I went to this place. I think it was called Pequads Pizza. Yeah. Pequads. And they sort of burned the crust a little bit, which I really like. Highly recommended. It seemed pretty legit as far as I could tell.
You definitely did the right thing because I just went back to the airport to hop on a flight, and I gotta say O'Hare is kind of even worse than I remember it. But, anyway, in case you haven't figured it out yet, we both just got back from Chicago where we interviewed the Chicago Fed president, Austin Goolsbee.
That's right. First of all, Chicago is so nice this time of year. I I love visiting Chicago. We, you know, we we could have talked to Austin over Zoom or something, I guess, but it was great to actually go there, go to the Chicago Fed headquarters, and talk to the president of the Chicago Fed. And what I have to say is, I think, an extremely interesting sort of moment for macro right now.
Oh, it is so interesting. I know people overuse the term turning points. Yeah. But I really feel like this is a very, like, specific moment in time where we thought the labor market was weakening, the fed cut by 50 basis points, and then we had that blowout jobs report. Yes. And I have to say, we recorded this interview with Austin on Wednesday, October 9th, which was the day before the latest CPI figure came out. Also, we recorded it right when the FOMC minutes came out. So not not the best planning in terms of timing on our part, but since then, we've had CPI come in ever so slightly hotter
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.