Kyla Scanlon

And so how do you explain it in a way where people feel like they're not being left behind by the economy, where they feel like they're empowered to participate in the economy, but what does participation actually look like?

And so how do you explain it in a way where people feel like they're not being left behind by the economy, where they feel like they're empowered to participate in the economy, but what does participation actually look like?

And so there's just a lot of questions that come up

And so there's just a lot of questions that come up

with talking about these things that impact all of us.

with talking about these things that impact all of us.

It's like, well, how should we be ingesting this information?

It's like, well, how should we be ingesting this information?

And what should be the action items that people have after they watch a video or listen to an episode, you know?

And what should be the action items that people have after they watch a video or listen to an episode, you know?

Yeah, it sure feels that way.

It's good to see you.

Yeah, so I had the opportunity to interview Mary Daly and Tom Barkin, so the president of the San Francisco Federal Reserve and the president of the Richmond Federal Reserve.

And President Daly started talking about the end of the Great Moderation or what she felt like was maybe the exit of the Great Moderation, which is this period of the past 40 years where we've had relative macroeconomic stability because we've had independent central banks, we've had globalization.

We've had technology that's enabled us to predict business cycles a little bit better.

Central banks have gotten better at communicating so the markets have more insight into what's going on.

And so there's kind of this removal of all the volatility that preceded us from like the 1980s and before.

And then President Barkin started talking about how he feels like the persistence of uncertainty is kind of the biggest issue that we could be facing in 2026.

And so after that interview, I was like, wow.

And I just became obsessed with this idea of the great moderation that, you know, we study in school and we learn about economics.