The economy has reached a turning point. In recent years, inflation has been the focus of economic policymakers, journalists, and just about everyone who goes to the grocery store. However, economists now largely believe that inflation is under control. It remains a big political issue. The country continues to be reeling from years of rising prices, creating a real affordability crisis. But that’s not the only thing the next administration will have to deal with. So what does it mean to fight the next economic war rather than the last?
Jason Furman is a professor of economics at Harvard University and former chairman of the Council of Economic Advisers in President Barack Obama’s administration. Mr. Furman has closely followed the inflation crisis over the past several years and has deep knowledge of how economic policy is determined.
In this conversation, we discuss why the inflation crisis has raised so many economists’ expectations, what we’ve learned about the next inflation outbreak, the outlook for mortgage rates and the housing market, and the end of President Donald Trump’s term. We will discuss the future battles surrounding. Tax cuts, the pros and cons of Kamala Harris’ housing policy, and why both parties don’t seem all that concerned about the ever-growing U.S. debt.
Mentioned:
“The Economic Theory Behind J.D. Vance’s Populism” with Oren Kass on The Ezra Klein Show
“President Trump’s Most Misunderstood Policy Proposals” by Oren Kass
In Defense of Dismal Science by Jason Furman
Recommended books:
How the World Got Richer by Mark Koyama and Jared Rubin
The Paradox of Goodness by Richard Wrangham
Emile Zola’s “Lady’s Paradise”
What are your thoughts? What are the guest’s suggestions? Email us at ezrakleinshow@nytimes.com.
Transcripts of “The Ezra Klein Show” (posted at noon) and other episodes are available at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests can be found at https://www.nytimes.com/article/ezra-klein-show-book-recs.
This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact checked by Michelle Harris and Kate Sinclair. The senior engineer is Jeff Geld, with additional mixing duties by Isaac Jones, Efim Shapiro, and Aman Sahota. Our senior editor is Claire Gordon. The show’s production team also includes Annie Galvin, Elias Isquith, and Kristin Lin. Original music by Isaac Jones. Audience Strategy by Christina Samlewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie Rose Strasser. Special thanks to Tyler Cowen, Veronique de Rugy, Desmond Lachman, Lindsay Owens, Nathan Tankus, Isabella Weber, and Sonia Herrero.
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