Princeton's Blinder on the Future of Fed Leadership

The video discusses the concept of constrained discretion in monetary policy, highlighting inflation targeting and the Taylor rule as methods to guide central bankers. It examines the influence of Ben Bernanke and the fading importance of inflation during his tenure. The potential policy direction of Jay Powell, assuming his role as Fed chair, is analyzed, suggesting continuity with the Bernanke-Yellen tradition. The video also explores new macroeconomic ideas by Olivia Blunt and Joe Stiglitz, considering the impact of inequality on economic policies, including social, tax, and regulatory policies.

Discuss the implications of rising inequality on monetary policy as mentioned in the text.

What role do social and tax policies play in addressing economic inequality according to the speaker?