Kyle Risdahl

Spare a thought to all you monetary policy types for Jay Powell and the gang.

You've got one tool.

You can't do two things at once.

From American Public Media, this is Marketplace.

In Los Angeles, I'm Kyle Risdell.

It is Wednesday today, the 10th of December.

Good as always to have you along, everybody.

That tool that the Federal Reserve has, monetary policy, interest rates, the two jobs, maximum employment, and stable prices.

The challenge in late 2025?

As I mentioned, and as I've mentioned here before, the situation is that our two goals are a bit in tension.

Yes, yes, you have mentioned that.

Interestingly, everyone around the table at the FOMC agrees that inflation is too high and we want it to come down and agrees that the labor market has softened and that there's further risk.

All right.

So what's the problem?

Where the difference is, is how do you weight those risks?

And what does your forecast look like?

And where do you ultimately where do you think the bigger risk is?

You tell us.

We made a decision today.

We had, you know, nine out of 12 supported it.