Stacey Vanek-Smith
speaker
2,095 appearances
7 recordings
1 series
first heard Jun 2026
last heard 19 Sep
Stacey Vanek-Smith’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 — 7 in all, peaking in Sep 2026 with 2.
Appearances
He proposed and she didn't
What did he say?
Now let me ask you this, Justin, because I feel like so Bernanke started this era of of kind of extreme transparency.
Yes.
Uh they call it forward guidance, but sort of telling the markets what they're thinking, what they're looking at, where they're headed.
This continued through uh the great Janet Yellen, through the great Jerome Powell.
Um
But there is, I think, quite an interesting school of thought as to why go back to being more or less less transparent.
Less transparency, less forward guidance.
Um, and I do think it's worth talking about because I do want to ask you about it.
I feel like there there is an idea that too much transparency creates a lot of risk.
Because when the markets think they know what the Fed's gonna do.
Then they get a little complacent and then they start spending money and taking risks.
This is like a whole school of thought.
And that maybe the Fed is sort of coddling the markets and trying too hard to reassure everybody, which can make it less nimble.
It's like, well, we already said we weren't gonna do this, so now we have to do what we said.
Instead of saying, you know what, things have changed.
I've heard this blamed partially for the fact it took the Federal Reserve a while to start raising interest rates when inflation did start to tick up, and that maybe if there wasn't such a commitment to forward guidance, that interest rates would have been raised sooner and we would have had less of a battle with inflation.
Is the market anything but emotions?
That is my
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