Summers Says Fed's Core Task Should Be Macro Policy

The transcript discusses the appointment of the Federal Reserve's chair and vice chairs, focusing on the challenges of monetary policy, including inflation risks and low interest rates. It emphasizes the importance of financial stability and the government's role in addressing environmental and social justice issues. The text also explores the delegation of regulatory responsibilities and the potential impact of deregulation.

What is one of the main challenges the Federal Reserve is expected to face in the next few years?

• Technological advancements

• Inflation risks

• Trade deficits

• High unemployment rates

According to the transcript, what is considered the core task of the Federal Reserve?

• Healthcare reform

• Social justice

• Environmental policy

• Macroeconomic policy

What is the role of the Federal Reserve in terms of financial stability?

• To regulate international trade

• To ensure a stable financial system

• To manage healthcare policies

• To oversee educational reforms

How can the responsibilities between the chair and vice chair of the Federal Reserve be divided?

• The vice chair oversees international relations

• The chair can delegate regulatory policy to the vice chair

• The vice chair manages monetary policy

• The chair handles all responsibilities alone

What could be the consequence of a chair committed to deregulation?

• Enormous damage

• Enhanced environmental policies

• Increased financial stability

• Improved social justice