Austan (Austan) Goolsbee

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656 appearances 1 recordings 1 series first heard Jul 2026 last heard 15 Jul

Austan (Austan) Goolsbee’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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And a fool's errand.

You know, a bit of a fool's errand.

And yet, we have to make decisions every six weeks.

They're the cleanest dirty shirt we have.

Okay.

So I would say there actually is evidence that the Fed's forecast were better than the private sector forecast, but that doesn't make them good.

Why is that awesome?

Anybody who's overconfident, I can say this because I wasn't a forecaster, so I came in, so I'm inherently skeptical of black boxes to begin with.

And

I have this theory about human beings that dates back to caveman times.

They're kind of like, you either believe in magic or you don't believe in magic.

And this plays out in many venues in academics.

If somebody came and presented a paper that was so complicated that

No one could understand it.

There are some academics who are like, that person is so impressive.

I couldn't even understand it.

And others like the Nobel laureate, Gene Fama, who was at the University of Chicago, his thing inherently doesn't believe in magic.

So he'd be like, this whole thing is bullshit.

I can't understand one word that guy said.

And

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