Greenspan: Dissent Shows FOMC Process Is Working

The transcript features a discussion with Dr. Greenspan on the role of dissents at the FOMC, the global bond market's sustainability, speculative elements in the bond market, and inflation trends in the US. Greenspan emphasizes the importance of dissents for healthy debate within the Fed and discusses the unsustainable nature of the current bond market due to historically low interest rates. He also highlights the potential for inflation due to rising unit labor costs and tightening labor markets.

According to the speaker, what trends are currently affecting inflation in the US?

What does the speaker imply about the relationship between labor costs and profit margins?

How does the speaker characterize the current state of productivity in relation to employment?