Former Fed Gov. Mishkin: Fed Will Be Slow to Raise Rates

The transcript discusses the Federal Reserve's approach to interest rate decisions, emphasizing the importance of economic data and inflation trends. It compares the Fed's decision-making style with the Bank of England's, noting differences in handling dissents. The discussion also covers the relevance of the Phillips Curve in understanding employment and inflation dynamics, highlighting uncertainties in determining full employment rates.

What factors does the speaker believe will influence the Fed's decision to raise interest rates?

How does the speaker view the current state of inflation and its impact on the Fed's policy?

In what way does the speaker suggest the Fed's approach to dissent differs from that of the Bank of England?

What is the speaker's perspective on the relationship between the Phillips Curve and current economic conditions?

What challenges does the speaker identify regarding the Fed's understanding of full employment?