Fed's Mester on U.S. Economy, Trade and Monetary Policy

The transcript covers a discussion on the current economic landscape, focusing on the weakness in manufacturing due to trade uncertainties and the strength of the consumer market. It highlights the resilience of the US economy, despite challenges like trade wars and regional disparities. The conversation also delves into inflation dynamics, monetary policy, and potential new tools for future economic downturns.

What are the structural issues mentioned that could affect the economy in the long run?

What is the outlook for the economy as discussed in the text?

How does the text suggest monetary policy could respond to future economic downturns?

What are the potential risks associated with high corporate debt levels?