Ex-Fed's Stern on 'Expansionary, Judicious' Fiscal Policy

The transcript discusses various economic indicators such as GDP and retail sales, and their impact on the economy. It explores the potential effects of fiscal stimulus and the Federal Reserve's response, including interest rate adjustments. The conversation also delves into the transition from monetary to fiscal policy and the challenges of forecasting economic projections in this context. The discussion highlights the importance of judicious policy-making to ensure economic growth without triggering inflation.

What historical context does the speaker provide regarding the Federal Reserve's approach to fiscal stimulus?

How does the speaker suggest that monetary policy might respond to fiscal policy changes?

In what ways does the speaker believe the labor market may respond to increased fiscal stimulus?