Two More Fed Hikes Expected in 2018, Niskanen Center's Smith Says

The transcript discusses the US economic outlook, focusing on potential Federal Reserve rate hikes due to strong economic growth. It addresses concerns about the temporary nature of this growth, considering the impact of tariffs, especially on agriculture. The discussion also touches on the Fed's independence amidst political pressure from the White House. The potential long-term economic effects of ongoing tariffs, such as inflation and stagflation, are considered, with an emphasis on the Fed's ability to manage these challenges using its policy tools.

What are the potential long-term effects of the current economic policies as discussed in the text?

How does the speaker perceive the Federal Reserve's ability to manage inflation and economic growth?