Kai Risdahl

So we got him back on the phone today for the insider's perspective on the news of the weekend.

Professor Blinder, good to talk to you again, sir.

You saw this news break yesterday.

I want you to take us inside the room since you've been there.

What do you think the reaction was at the Fed?

Surely they expected something.

Yeah, virtually since he was appointed.

You've known Jay Powell for a long time, I imagine.

Yes.

And I guess I wonder, you know, and I've interviewed him a couple of times and he's always been completely measured and not going there at all, if you take my meaning, when you ask him about politics and the president.

What do you suppose pushed him over the edge to make this extraordinary video?

So you're an institutionalist, as I imagine Jay Powell is.

Yes.

And I guess I wonder what this bodes for the Fed as an institution.

Powell's out his chair in May.

There's going to be a new guy.

And I say guy because it's going to be a guy.

who will be, if you read the tea leaves and you don't have to read too deep, responsive to the president's wishes, let's say.

What do you suppose that means for the Fed?

What do you suppose that means for this economy?