Grant Thornton's Swonk Sees Fed Evolution Not Revolution

The transcript discusses the Federal Reserve's evolving economic outlook, highlighting wage revisions and fiscal stimulus as key factors. It notes the Fed's optimism about the economy, influenced by fiscal policies and historical context. The discussion also covers the risks and uncertainties associated with late-cycle fiscal stimulus and the challenges faced by the Fed in balancing monetary policy with congressional actions.

What was one of the reasons for the Federal Reserve's shift towards a stronger economy and more rate hikes?

• Revision of wages for the third and fourth quarters

• Increase in global trade

• Decrease in unemployment rates

• Reduction in fiscal stimulus

Which Federal Reserve Chair's tenure marked the beginning of the current optimistic outlook?

• Janet Yellen

• Paul Volcker

• Ben Bernanke

• Alan Greenspan

What is a potential risk of implementing fiscal stimulus late in the economic cycle?

• Decreased consumer spending

• Increased unemployment

• Pulling growth forward and increasing uncertainty

• Higher inflation rates

Which previous Fed Chair was known for aggressive remarks about reducing deficits?

• Paul Volcker

• Alan Greenspan

• Ben Bernanke

• Janet Yellen

What challenge does Chair Powell face in the current economic climate?

• Managing international trade agreements

• Increasing interest rates rapidly

• Balancing fiscal stimulus with monetary policy

• Reducing unemployment to historic lows