Kevin Hassett
speaker
2,210 appearances
195 recordings
16 series
first heard Oct 2024
last heard 10 Aug
Kevin Hassett’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 154 in all, peaking in May 2026 with 38.
Appearances
Remember, Robert Gordon was saying it's everywhere but in the data.
But Greenspan decided not to hike rates.
because he believed that we were in the midst of a positive supply shock that was perhaps unprecedented.
And we had a kind of five-year run that's one of the best five-year runs we've ever seen, even all the way to the point where the U.S.
fiscal situation was in surplus.
And so I think that it's one of the great moves of Federal Reserve history that Greenspan saw that it was a positive supply shock that would be both pro-growth and deflationary.
Yes, I have a- You have more stuff about that down there?
Yes.
But I say that to reference today, it's really interesting that there's evidence in peer reviewed papers, or not quite peer reviewed yet, but at NBER, which is kind of-
A lot of my friends at NBR, by the way, it's a secret of NBR authors like myself, is that you'll very often take a paper and submit it to a journal and get the referee reports before you put it into the NBR working paper series.
Because if you got some stupid mistake, the referees will catch it.
You don't want to embarrass yourself in front of everybody by just throwing it out there.
And so actually, NBR is kind of almost peer reviewed.
But there's a lot of stuff showing big AEI gains.
And the thing is that we also see it in productivity.
And so if you think about the difference between, say, 1996 and today, is that we've got this revolutionary new thing that probably is going to be a big positive for productivity.
And Steve Ulner and Dan Sickle, your former colleagues at the Fed, had a famous paper that you only see productivity booms after the benchmark revision.
So you never actually experience it while it's happening in the data.
And this AI boom is significant enough that we're already seeing it in the data.
Probably the benchmark revision is going to revise it up.
Showing 1401–1420 of 2,210 · page 71 of 111
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