Ewen Cameron Watt: Fed to Move Down Long-Term Dots

The transcript discusses the differences between the Federal Reserve (Fed) and the Bank of Japan (BOJ) in terms of monetary policy and interest rates. It highlights the Fed's focus on market expectations and terminal rates, suggesting a potential decrease in long-term inflation expectations. The press conference is expected to provide further insights into these topics. The discussion also touches on the concept of new economics, drawing parallels with historical events in the US during the 1940s and 1950s, and suggests that textbooks on these new economic conditions will be written after the fact.

What factors differentiate the Fed's approach from that of the BOJ?

How might the long-term expectations for inflation affect interest rates according to the text?

What does the speaker suggest about the future of economics in relation to current events?

What historical context is provided regarding the regulation of interest rates?

In what ways does the speaker believe textbooks will be influenced by current economic events?