Narayana Kocherlakota on Federal Reserve's Rate Path

The transcript discusses the current state of the labor market, interest rates, and inflation, highlighting the Fed's approach to economic data. It examines the labor force participation rate and the challenges of measuring labor market slack. The conversation also touches on the Fed's policy decisions, financial stability, and the global economic environment, emphasizing the need for a new framework to address these issues effectively.

What does the text suggest about the relationship between interest rates and economic risks?

What changes in the economic framework does the speaker suggest are necessary?

How does the speaker view the risks associated with financial stability?