McCulley Says Fed Should Pat Itself on the Back for U.S. Growth

The video discusses the current state of the US economy, highlighting its strong cyclical position with low unemployment and stable inflation. It credits the Federal Reserve's monetary policy for the prolonged economic expansion but notes the political implications of income inequality. The return of fiscal policy is seen as positive, though its timing is criticized. Concerns about trade policies and tariffs are also addressed, with a view that they may not be beneficial for the US.

What is the speaker's opinion on the return of fiscal policy in economic management?

What are the potential risks of relying solely on monetary policy during a recession?