Inflation Hits the Big Leagues

Jay Powell expresses concern over inflation, noting that it has exceeded 2% for a prolonged period. He suggests retiring the term 'transitory' and emphasizes policy adaptation to prevent entrenched inflation. The transcript highlights inflation's impact on sports, with Steven Cohen's investment in the New York Mets and high-value contracts for players like Max Scherzer. It also discusses the inflationary trend in coaching contracts, citing examples like Brian Kelly and Lincoln Riley, who received lucrative offers. The transcript concludes with a nod to the challenges of controlling such inflation.

What does Jay Powell suggest about the term 'transitory' in relation to inflation?

• It should be used more frequently.

• It has different meanings to different people.

• It accurately describes the current inflation situation.

• It should be used to describe long-term inflation.

What significant action did Steven Cohen take in response to inflation in sports?

• He sold the New York Mets.

• He focused on building a farm system.

• He reduced player salaries.

• He invested heavily in a top pitcher.

How does Michael Reese of OWL Capital view sports investing?

• As similar to other types of investing with potential benefits.

• As a short-term investment strategy.

• As a declining industry.

• As a risky venture with little upside.

What was Brian Kelly's condition for leaving Notre Dame?

• A new stadium for Notre Dame.

• A $100 million offer from LSU.

• A lifetime contract with Notre Dame.

• A $250 million check from a fairy godmother.

What unique benefit did Lincoln Riley receive from USC?

• A $250 million contract.

• A new football stadium.

• Unlimited use of a private jet.

• A lifetime coaching position.