Summers Warns the Fed to be more Careful

Summers Warns the Fed to be more Careful

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video discusses economic outlooks, focusing on inflation, recession, and the Fed's role. It highlights the Fed's credibility issues and the need for policy adjustments due to unforeseen events like COVID. The discussion also covers monetary policy risks, the Build Back Better package, tax compliance, and estate tax reform to address wealth inequality.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What were the three potential economic outcomes discussed in the first section?

Runaway inflation, recession, and stable conditions

Deflation, economic boom, and stable conditions

Stagflation, economic boom, and recession

Runaway inflation, deflation, and economic boom

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the updated analysis, what is the probability of having inflation above the 2% target?

70-75%

50-55%

10-15%

30-35%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What historical figure is mentioned in relation to the Federal Reserve's credibility?

Janet Yellen

Paul Volcker

Alan Greenspan

Ben Bernanke

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What unforeseen events did the Fed's framework not account for?

Global warming and technological advancements

Natural disasters and cyber threats

COVID-19 and labor shortages

Trade wars and political changes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main argument for a more assertive monetary policy?

To reduce national debt

To increase government revenue

To prevent economic recession

To boost consumer spending

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary reason the Build Back Better package is unlikely to increase inflation?

It will decrease interest rates

It will pay for itself

It will reduce government spending

It will increase consumer savings

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the proposed solution to improve tax compliance?

Implement a flat tax

Invest in the IRS

Reduce government spending

Increase tax rates