Rivlin Says Challenges for Powell Will Be Regulatory

The transcript discusses the transition in leadership at the Federal Reserve, highlighting the qualifications and expected challenges for Jay Powell as the new chair. It emphasizes the importance of regulatory issues over monetary policy and predicts that inflation will remain low. The discussion also covers potential responses to economic downturns, such as quantitative easing.

What is the speaker's perspective on the emphasis placed on monetary policy challenges?

What actions does the speaker suggest could be taken if there is a downturn in the economy?