tom: that is something for megan greene. did you see megan greene in washington on seth carpenter? e missed an opportunity to check in and see. tom: you want to talk about -- jonathan: a move on a currency pair, even if it is em. tom: i did a bunch of reading on this. i am fascinated by the four erdogans we have seen. i think there is a huge political unknown on how he will adapt to the broader political crisis of what he dreamed of in 2002 and the wonderful turkish boom through the 2000. that has been shattered, but with a vengeance this morning. i would respectfully suggest a seismic shift, where he has to reformulate whatever the erdogan future is. jonathan: right now the perception of central-bank independence in turkey has shifted markedly over the last several years. we have seen it happen a few times. more recently these 100 basis point cuts in the face of inflation around 20% is concerning a lot of people. lisa: independence is not the word anyone would use. it is set erdogan is running monetary policy on his own. the question i have is at what point about support gets erode

but megan green thinks that this cycle won't be like that one. >> i actually think what we're facingin the '70s, we had really high inflation and really low growth. um, it's called stagflation. >> but during the lockdown, many companies made themselves more productive by investing in automation and other improvements. >> so, if we have productivity growth, it doesn't necessarily result in higher prices. >> reporter: does the fact that our government has poured trillions of dollars of cash into the economy play a part in all this? >> so, what -- what the government has already done, certainly, has fed the flames of inflation a bit. and it was sort of designed to do that. don't forget, the stimulus was offered in order to get the economy going and jump started after it had been put in a deep freeze. >> reporter: and what about the trillions of dollars yet to come as part of the new infrastructure spending bill? >> and there, i am a lot less worried. the fiscal-stimulus measures on the table are all due to be deployed over the next ten years. a lot of it is aimed at infrastructure spend

. >> economist megan greene is a senior fellow at harvard's kennedy school and chief economist at theat did the pandemic do to supply. >> when we shut down the economy, that automatically caused disruptions in parts of a really complex global supply chain, we're seeing huge bag logs in terms of containers waiting in ports and ships waiting offshore, partly because of labor we can't find truckers or longer shore men to get these off of the ships into ports on to shelves. >> what about demand. >> as rereopen the economy, there's just been this surge in demand as we go out to buy stuff, on top of that the christmas holiday. >> the spike in gas prices is different, oil company whose lost money during the great lockdown are limiting how much oil they produce. >> oil gets you oil. oil get your oil. >> come on, man. listen, buddy, during a locked you people weren't flying or driving, we made all this oil we couldn't sell, we are not getting burned again. >> but you're driving up the prices of gas and food. >> not my problem, pal. >> oil get your oil. >> if you're old enough you might remembe

will be if you look at how inflation has evolved in the last year and a half >> more insight with megan greennior fellow at the harvard kennedy school thank you for joining us i think it's important to remember, for those casually associated with the market, the taper is not a rate hike they're different things the taper could lead to the bond market raising rates on its own but it's not a rate hike the taper not moving stocks at all. why do you think that was? just because everybody and their mother and their mother's mother saw it coming? many. >> yeah. i think it's down to the fed's communication on this one. there was a lot of concern that we would have a repeat of 2013's taper tantrum, and that hasn't happened at all. stocks reached new highs after the announcement, bond yields hardly bunched the fed didn't surprise anyone with its announcement that it will start tapering bond purchases by $15 billion a month. now they've committed to that for november and december. they haven't committed to that further on so they can reassess from january onward and accelerate it or decelerate it depen

green foothills. executive director megan fluke were among those celebrating last night's historic city council vote top coyote valley as open space today. >> we honor our past. and we celebrate a new future. a new future for katie valley. for our region. and for children and their progeny. >> the city council voted unanimously to rezone hundreds of acres of the pristine valley from industrial use to agricultural and open space for farming and wildlife environmentalists hailed the decision as a victory in the battle of climate change, protecting and restoring coyote valley as natural infrastructure is one of the smartest investments we can make to build climate resilience in the region. >> that helps both people and nature adapt to the effects of climate change. >> the decision block the proposed construction of some huge amazon style warehouses here contending that rezoning the land is not a permanent solution and that property owners deserve fair compensation for their land is attorney chuck reed. >> if you don't control the property by only the developer rights, then subject to change my future coun

green foothills. executive director megan fluke were among those celebrating last night's historic city council vote toyote valley as open space today. >> we honor our past. and we celebrate a new future. a new future for katie valley. for our region. and for children and their progeny. >> the city council voted unanimously to rezone hundreds of acres of the pristine valley from industrial use to agricultural and open space for farming and wildlife environmentalists hailed the decision as a victory in the battle with climate change protecting and restoring coyote valley as natural infrastructure is one of the smartest investments. >> we can make to build climate resilience in the region that helps both people and nature adapt to the effects of climate change. >> the decision block the proposed construction of some huge amazon style warehouses here contending that rezoning the land is not a permanent solution. and that property owners deserve fair compensation for their land is attorney chuck reed. >> if you don't control the property by only the developer rights, then subject to change my future counci

green house twice. i know this is royce williams. megan, but the 3rd time i'm starting to feel disappears. now my, it was the 1st, let's go back to the writing career. was the 1st one you wrote a my dog wrote me, i assume that was what was that your childhood hound? my dad is mom and i just, we got him last year right before to decline. 1000 thing. um. so i grew up with dads, but since i moved to eli with my wife, well, for kids living at home with us, they've always wanted a dog. and so like 10 years, 10 years, oppression will finally given last year. and in the quarantine not know, we had a puppy and it was a when experience how they're like a new is having like a baby you know, having a baby in the house. so yeah, but there his name is romeo and we did. we had a album last year con more fun time, which is a follow up to the previous one and put a song about a dog on the album. we made a book with that one. and that's for younger kids. little john cruise is a little bit older kids. my dog. all mean it's for like, you know, babies are that well for 2 year or 2, you know? yeah, get romeo s