What Fed Chairman Kevin Warsh would say to shoppers seeing higher grocery prices. 🛒🥦🍊🍎🥩

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16 segments

0:00

If I saw somebody in the grocery store,

0:02

what I would say to them

0:04

is that we cannot have a very

0:06

significant effect on particular prices.

0:10

The price of oil in the markets today or

0:12

even the the the price of a dozen eggs,

0:15

um that does not have first-order

0:17

consequences to what we're doing.

0:19

But we do have a really important job

0:20

there, and it's to make sure that those

0:23

changes in oil or beef or eggs or milk

0:26

don't broaden in the economy, don't have

0:28

second and third-order effects. That's

0:30

our job. That's our commitment. That's

0:33

our capability, and we're going to

0:34

deliver on it.

Interactive Summary

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The speaker explains that while they cannot directly control the prices of individual goods like oil, beef, eggs, or milk, their primary objective is to prevent these specific price fluctuations from spreading throughout the economy and causing secondary or tertiary inflation.