Kai Ryssdal

Part two now of Rafael Bostic, the soon-to-be former president of the Federal Reserve Bank of Atlanta.

All right, to the nuts and bolts of this economy, and now you are allowed to use labor market or inflation.

You notice I haven't said either of those words.

You mentioned unemployment once.

Where do you stand?

Where's the balance of risks?

Inflation.

But also they're not hiring a ton of people.

So this is really interesting because I went back and I listened to the most recent interview that you and I did, which was, it was a while ago, but

You were, and I said this at the time, we've been talking for a long time.

You've always been reasonably steady state.

You were as downbeat, I think, as I had ever heard you.

And it sounds like you're kind of still there.

Okay, wait, let me try to put that into English because people are going to hear a central banker say turbulence and long run and they're thinking, oh my God.

Over to you, sir.

I mean, I'm... Based on our past conversations, right?

You always in our conversations have been, you know what, we're going to figure this out.

The Fed's doing its job.

The economy's resilient.

And in the last year and a change, you're talking about uncertainty and how you're making decisions in a fog.