Angel Ubide Says Fed Should Be Testing Unemployment Limit

The transcript discusses the Federal Reserve's approach to managing inflation and unemployment. It highlights Jay Powell's leadership in forecasting inflation overshoot and the gradual policy path being taken. The discussion includes the importance of understanding economic risks, testing unemployment limits, and adopting a policy stance that accommodates inflation overshoot. The concept of opportunistic reflation is introduced, drawing parallels with past economic strategies.

What is the main risk to the economy mentioned in the text?

How does the speaker propose to approach the unemployment rate in relation to inflation?

What strategy does the speaker suggest for managing inflation expectations?

What does the speaker mean by 'opportunistic reflation'?

What historical context does the speaker provide regarding inflation management?