i think alan greenspan argued that inflation should be low enough that you don't think about it that much. people ask whether they should move higher in what they have more ability to meet their goal? when chair powell and others have been asked that, they say no, we have a goal and something we written down have to stick to it. any conversation about any changes that have to happen. if you say your goal is to percent and once you miss it high, you just say never mind, people will think you will do that again and again. the view is that having some credibility at 2% is important. if you are going to change that one day, make it way down the road when you

i think alan greenspan argued that inflation should be low enough that you don't think about it that much. people ask whether they should move higher in what they have more ability to meet their goal? when chair powell and others have been asked that, they say no, we have a goal and something we written down have to stick to it. any conversation about any changes that have to happen. if you say your goal is to percent and once you miss it high, you just say never mind, people will think you will do that again and again. the view is that having some credibility at 2% is important. if you are going to change that one day, make it way down the road when you have achieved price stability. host: leslie in georgia, democratic caller. caller: good morning, greta. i would like to make a couple of points. first of all, trump's economy was great because he was riding the waves of president obama's economy. secondly, i would like to say that workers are coming back now because they are not coming back to their slave minimum wages. they are coming back to 11 and $12 an hour. that was put forth b

i think alan greenspan argued that inflation should be low enough that you don't think about it that much. people ask whether they should move higher in what they have more ability to meet their goal? when chair powell and others have been asked that, they say no, we have a goal and something we written down have to stick to it. any conversation about any changes that have to happen. if you say your goal is to percent and once you miss it high, you just say never mind, people will think you will do that again and again. the view is that having some credibility at 2% is important. if you are going to change that one day, make it way down the road when you have achieved price stability. host: leslie in georgia, democratic caller. caller: good morning, greta. i would like to make a couple of points. first of all, trump's economy was great because he was riding the waves of president obama's economy. secondly, i would like to say that workers are coming back now because they are not coming back to their slave minimum wages. they are coming back to 11 and $12 an hour. that was put forth b

in your note kicking off the new year, my favorite thing, woman after my own heart, you quoted alan greenspan, you mentioned the '90s, remember when you said i know you think you understand what you thought i said but i'm not sure you realize that what you heard is not what i meant which is, go back to greenspan in the day, covering him as a young reporter trying to understand what the heck he was saying and it never made sense. real quick but the fed obviously will be a pretty big story and we'll get the mints tomorrow. final word. >> it is. which heard a lot of people come out say hey the fed has got a credibility problem. the beauty of greenspan because you didn't know what he was talking about you had to do the work but fed chairman powell has come out and said we're not going to raise rates 75 basis points, two weeks later they did. we're not ion thinking about thinking about raising rates and month later they were raising rates. there have been many fits and starts. there will be volatility and investors should prepare for that, but volatility is the friend of the long-term investor. us

i long for the days of wayne angell and alan greenspan where talk was scarce. of analogies that were solved through, by investment in productivity. so i think we can continue to see maybe better than we deserve growth but do it with a tight labor market and improving productivity. larry: john, you know there are two aspects. one as "axios" put it the other day, the biden boom. inflation down, stocks up, et cetera. consumer confidence up. although real wages are still falling but just on this point, the '90s, the information revolution, a.i., i know it's almost an investment cliche but the a.i.-related stocks or the application of a.i. seems to be sweeping the market much like the application of the information revolution in the '90s swept the market. i don't know that it's political, has much to do with policy. it's just you know, shumpeterian gaels of creative destruction. >> there is a new technology. people are very excited about it. if you mess around with it there are various ones you can go to online. you can see is accomplish as lost things, a lot of tas

alan greenspan did a great, great job. mcchesney martin was phenomenal.t these things grow slowly and properly and keep a lid on the process so we all have a good sense inflation is not going to come back and we're not going to v deflation either. charles: right. >> steady as you go is the he either. government should not be focus of one's attention. people should be worried about their own lives, their own kids, their own things, not what is going on the washington, d.c. or on the rio bravo or rio grande river. they should not be concerned about what is going on in ukraine other the middle east. they should be concerned about what is here. we need a strong defense, a secured neighborhoods and we want low tax rates and we want spending restraint and that's it, charles. let people run their own lives. charles: all right. >> knowing that the government is a stable, solid force, not chaotic. charles: all i can say amen, art. thank you very much, my friend. appreciate it. happy new year. >> thank you, charles, happy new year to you, sir. i enjoy being on the

remember productivity when alan greenspan there is a thinking that maybe you can carry the economy butn that note we get the january jobs report out on friday and the focus will be on participation and wage growth but it won't tell us much about worker happiness, before you say that does not matter, according to gallup unhappy workers cost the global economy almost $9 trillion, our economy almost $2 trillion alone. i want to bring in research president jim bianco. i guess workers have always been unhappy but it seems that these days they have more reasons to be unhappy and not like the company's climate change policies or the food in the cafeteria is not gluten-free or not my dream job everybody settle come out of college and get my dream job your thoughts on this darkness of unhappiness in our country. >> i think of what you said in the end it reflects a bigger malaise the people are unhappy at their jobs because unhappy with the direction of the economy and there unhappy with the direction of the country so it kind of feeds into all of that. the bigger issue we tend to forget this. w

alan greenspan codified years ago. jonathan: we want to see you as the next fed chair.. make me chairman. i will read the financial data. jonathan: if you are just joining us, welcome to the program. the president might be looking for a future fed chair. equity futures are -.5% and yields are a little higher but basically unchanged. lisa: we are watching cpi on thursday. it's a time when things are whip sawing. i'm not sure where the compass is. people are trying to readjust. jonathan: we are always trying to chase the next turn and neil says not much has changed and doesn't believe in the long lags. his view is disinflation could continue in real income will look ok. that's his view. tom: they are not looking at the parlor game as entertainment week by week. jonathan: we will try to get out 12 months with ira jersey up next on interest rates. we are at session lows, this is bloomberg. ♪ ♪ (captivating music) ♪ (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) you can't buy g

the wall street degenerates get greedy and they do ignorant things they lose their money and alan greenspan.com blowup. -- dotcom blowup. and then in 2008 they started printing money. guest: i can't imagine what you would call economists if we had someone from wall street sitting here. that is really not accurate. during the greenspan years inflation was reasonably under control considering what he inherited. during the miller years, who proceeded paul volker, inflation went up about 10%. volker was able to grind it down to about 4%. from there it gradually tapered. you really cannot pin this on greenspan. in this century, especially during the bernanke years, we had the influx of a lot of in extensive products from china. they were subsidizing them and so forth. we had -- i know folks do like to admit this but the consolidation of supply chains. for example, having two formula manufacturers in the u.s. creates risks but it also lowers costs. for a decade the risks did not come back to us very much. we had a lot of circumstances whe of cost-cutting. i think we have run this string on that.

i look back at alan greenspan and he made a speech about the internet and the bubble in the new paradigmnd even bigger percent city -- and even bigger propensity be a more significant indicator for growth more than we understand? >> in general, if you look at technological innovations over 200 years, speed of adoption is increased. you are looking at 50 years back in the 1800s to 10 years during the technology age of the internet. now maybe three years. that might be the next environment in which we see those positive benefits. the other important thing to note is you may remember back in the 1990's, bob solow quoted that essentially productivity gains from the computer were everywhere except in the stats. that's perhaps what we might see in today's environment with a lot of positive gains in terms of company activity but not necessarily visible in terms of the statistics. scarlet: how are you using ai right now in your day to day work? you do say it's helping you do some of the mundane stuff and putting you in a position to jump in at a later point than you would have started. >> what i

the wall street degenerates get greedy and they do ignorant things they lose their money and alan greenspan000.com blowup. -- dotcom blowup. and then in 2008 they started printing money. guest: i can't imagine what you economists if we had someone from wall street sitting here. that is really not accurate. during the greenspan years inflation was reasonably under control considering what he inherited. during the miller years, who proceeded paul volker, inflation went up about 10%. volker was able to grind it down to about 4%. from there it gradually tapered. you really cannot pin this on greenspan. in this century, especially during the bernanke years, we had the influx of a lot of in extensive products from china. they were subsidizing them and so forth. we had -- i know folks do like to admit this but the consolidation of supply chains. for example, having two formula manufacturers in the u.s. creates risks but it also lowers costs. for a decade the risks did not come back to us very much. we had a lot of circumstances where we accomplished a lot of cost-cutting. i think we have run this

annmarie: consumers are feeling better, but when you think about how alan greenspan used to think aboutrices would not impact daily decisions of everyday americans, i'm not seeing that in stories i'm reading about how people feel about the economy. michael: i think people got a big shock in 2021 and 2022. and although the inflation numbers feel better, people don't really feel better. remember what things cost three or four years ago, and although they are not going up in price very quickly, they are a lot more expensive than they were in recent memory. the aftershock of the big hike in prices in covid still remains. it is only gasoline which is back to where people were expected to be. jonathan: we have seen in so many times, in cumulative inflation, the stocks are still running deep. stocks up 2% in the last two years sounds cheap. markets at all-time highs sounds expensive. i would you frame things in the stock market now? michael: i think it is, again, it is technology and everything else. i don't think attack looks cheap and it is not up 2%. we did not have $3 billion -- sorry, $3

i think alan greenspan argued that inflation should be low enough that you don't think about it thath. people ask whether they should move higher in what they have more ability to meet their goal? when chair powell and others have been asked that, they say no, we have a goal and something we written down have to stick to it. any conversation about any changes that have to happen. if you say your goal is to percent and once you miss it high, you just say never mind, people will think you will do that again and again. the view is that having some credibility at 2% is important. if you are going to change that one day, make it way down the road when you have achieved price stability. host: leslie in georgia, democratic caller. caller: good morning, greta. i would like to make a couple of points. first of all, trump's economy was great because he was riding the waves of president obama's economy. secondly, i would like to say that workers are coming back now because they are not coming back to their slave minimum wages. they are coming back to 11 and $12 an hour. that was put forth by th

. >> the concept of an incremental editorialized alan greenspan invented. them to do one or two of five or six rate cuts now versus wall street rates at the fed are sky high. >> i think their goal is to assist main street. so if they do those cuts they will be to assist main street. i think it would be beneficial to main street if they do that and it is our view. i don't think the data quite gets them there yet. i don't think it quite gets them there. they need to see the six-month annualized rate of 2% on their key metrics. with its core pce, they need to see that in order to move and maintain their credibility. jonathan: in line with the data it makes perfect sense. what do you make of the recent communication around rate cuts and how do you expect that to show up in the minutes. lisa: what we are -- >> what we will not see is talk about rate cuts. that's going to be not part of the minutes. they are part of the forecast, as they have said we are focusing on other things and that means we will show they are focused on other things. i think the minutes, wh