Rafiki's Englander Says Yellen Did Well Before Congress

The video discusses Shannon's testimony in front of Congress, highlighting her performance as a Fed chair. It delves into inflation concerns and the implications of interest rate decisions, particularly under Janet Yellen's term. The discussion shifts to the current economic situation, characterized by a positive supply shock, and its implications for policy-making, contrasting it with a demand shock scenario.

What was the general tone of Congress towards the Fed chair during the testimony?

• Aggressive and confrontational

• Gentle and understanding

• Indifferent and uninterested

• Supportive and encouraging

What was one of Janet Yellen's main concerns discussed in her testimony?

• Rising unemployment rates

• Inflation and its impact on rate decisions

• Increasing trade deficits

• Decreasing housing prices

What has Janet Yellen struggled to achieve during her term according to the discussion?

• Balancing the federal budget

• Reducing unemployment to historic lows

• Meeting the core PCE inflation target

• Increasing interest rates consistently

What is the current economic condition described in the third section?

• A negative demand shock with rising unemployment

• A positive supply shock with falling prices

• A stagnant economy with no growth

• A recession with high inflation

How should policymakers view the current supply shock compared to a demand shock?

• As irrelevant to economic policy

• As more severe than a demand shock

• As equally concerning as a demand shock

• As less severe than a demand shock