Does Politics Makes Policymakers a Little Keynesian?

The transcript discusses Robert Skidelsky's views on Keynesianism, highlighting how politics often leads policymakers to adopt Keynesian principles. It explores debates on infrastructure spending, questioning whether it is a Keynesian program or common sense. The conversation also touches on economic predictions and the role of economists, referencing debates between Paul Krugman and John Cochran, and the impact of monetary policy at the zero lower bound.

According to the speaker, what challenges do economists face in predicting responses to economic policies?

What does the speaker suggest about the expectations of the new governors coming into the Fed?