Episode description

Our first speaker is John Taylor who is the Mary and Robert Raymond Professor of Economics at Stanford. John is famous for developing the Taylor Rule. John will explain his Taylor rule for setting the optimal short-term interest rate and why interest rates need to rise to quell rising inflation.

Our second speaker is Casey Mulligan who is the Ken Griffin Professor of Economics at University of Chicago’s Booth School and the Former Chief Economist for the Council of Economic Advisors in the Trump Administration. Casey will explain how government stimulus increased inflation and discouraged employment. He will also discuss his recent work in the pharmaceutical industry that shows how middlemen helped lower prices for consumers.

Our final speaker is Alan Auerbach who was my economics professor when I was a student at Penn. Alan is currently the Robert D. Burch Professor of Economics and Law at UC Berkeley. Alan will discuss the dynamics between current inflation and employment.