Markets in Control of Fed With Good Intentions

The transcript discusses market skepticism about the Fed's potential rate hikes in September, emphasizing the need for the Fed to communicate its long-term strategy. It highlights the market's influence over the Fed's decisions and the challenges faced by Fed leadership. The discussion also touches on the potential consequences of rate hikes on emerging markets and the need for new thinking in Fed policy.

What does the speaker suggest is necessary for the Federal Reserve to effectively manage interest rates?

What concerns does the speaker express about the Federal Reserve's ability to raise rates?