Federal Reserve Chair Jerome Powell speaks at Harvard University — 3/30/2026 | CNBC Television

The podcast features a Q&A session with Jerome Powell, Chair of the Federal Reserve, focusing on economic policy, financial stability, and the Fed's role. Powell addresses the challenges of balancing inflation and employment, particularly in light of supply shocks and geopolitical events like those in the Middle East, emphasizing the Fed's commitment to achieving its 2% inflation target. He defends the Fed's independence in monetary policy while acknowledging collaboration with administrations on financial regulation. Powell also shares his perspective on the evolving financial landscape, including the growth of private credit markets and the potential impact of cybersecurity threats, and offers advice to students entering a challenging job market.

Outlines

Part 1: Background, FOMC Dynamics

Part 2: Monetary Policy, Inflation, Shocks

Part 3: Governance, Regulation, Safety

Part 4: Reflections, AI, Career Advice

Part 5: Methodology, Risks, Global Context

Part 6: Trust, Pandemic Analysis, Debt

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Federal Reserve Chair Jerome Powell speaks at Harvard University — 3/30/2026

CNBC Television

Part 1: Background, FOMC Dynamics

Jerome Powell's Journey: From Politics and Law to Economic Policy Leadership

Navigating Disagreement within the Federal Open Market Committee (FOMC)

Part 2: Monetary Policy, Inflation, Shocks

Evaluating the Efficacy and Impact of the Fed's Balance Sheet Expansion

Inflation Dynamics: The Last Mile to the 2% Target and Middle East Events

Balancing Supply Shocks and Inflation Expectations: The Fed's Response

Part 3: Governance, Regulation, Safety

Fed Independence and Collaboration: Monetary Policy vs. Financial Regulation

Assessing Financial System Safety: Dodd-Frank Reforms and Emerging Threats

Part 4: Reflections, AI, Career Advice

Reflections on Public Service: Regrets, Pride, and Advice for the Next Fed Chair

Advice for Students Entering an Uncertain Economy: AI and Job Creation

The Long-Term Impact of AI: Complementarity vs. Substitution in the Job Market

Part 5: Methodology, Risks, Global Context

Decision-Making at the Fed: Balancing Economic Models and Real-World Insights

FOMC Dynamics: Committee Management and the Art of Listening

Private Credit Markets: Monitoring Risks and Potential Spillover Effects

International Relations and Fed Decision-Making: Prioritizing the American Public

Part 6: Trust, Pandemic Analysis, Debt

Maintaining Public Trust: Sticking to the Fed's Mandate and Staying Out of Politics

Avoiding Speculation on Future Fed Leadership and Policy

Economic Uncertainty: The Limits of Models and the Reality of Fat Tails

Money Supply, Stimulus, and Supply Shocks: Explaining Pandemic Inflation

U.S. Debt Sustainability: The Path is Unsustainable

Federal Reserve Chair Jerome Powell speaks at Harvard University — 3/30/2026

CNBC Television

Part 1: Background, FOMC Dynamics

00:00Jerome Powell's Journey: From Politics and Law to Economic Policy Leadership

Jerome Powell's Journey: From Politics and Law to Economic Policy Leadership

04:12Navigating Disagreement within the Federal Open Market Committee (FOMC)

Navigating Disagreement within the Federal Open Market Committee (FOMC)

Part 2: Monetary Policy, Inflation, Shocks

06:33Evaluating the Efficacy and Impact of the Fed's Balance Sheet Expansion

Evaluating the Efficacy and Impact of the Fed's Balance Sheet Expansion

10:30Inflation Dynamics: The Last Mile to the 2% Target and Middle East Events

Inflation Dynamics: The Last Mile to the 2% Target and Middle East Events

12:53Balancing Supply Shocks and Inflation Expectations: The Fed's Response

Balancing Supply Shocks and Inflation Expectations: The Fed's Response

Part 3: Governance, Regulation, Safety

15:32Fed Independence and Collaboration: Monetary Policy vs. Financial Regulation

Fed Independence and Collaboration: Monetary Policy vs. Financial Regulation

18:30Assessing Financial System Safety: Dodd-Frank Reforms and Emerging Threats

Assessing Financial System Safety: Dodd-Frank Reforms and Emerging Threats

Part 4: Reflections, AI, Career Advice

23:42Reflections on Public Service: Regrets, Pride, and Advice for the Next Fed Chair

Reflections on Public Service: Regrets, Pride, and Advice for the Next Fed Chair

27:20Advice for Students Entering an Uncertain Economy: AI and Job Creation

Advice for Students Entering an Uncertain Economy: AI and Job Creation

30:40The Long-Term Impact of AI: Complementarity vs. Substitution in the Job Market

The Long-Term Impact of AI: Complementarity vs. Substitution in the Job Market

Part 5: Methodology, Risks, Global Context

33:29Decision-Making at the Fed: Balancing Economic Models and Real-World Insights

Decision-Making at the Fed: Balancing Economic Models and Real-World Insights

35:40FOMC Dynamics: Committee Management and the Art of Listening

FOMC Dynamics: Committee Management and the Art of Listening

38:10Private Credit Markets: Monitoring Risks and Potential Spillover Effects

Private Credit Markets: Monitoring Risks and Potential Spillover Effects

39:43International Relations and Fed Decision-Making: Prioritizing the American Public

International Relations and Fed Decision-Making: Prioritizing the American Public

Part 6: Trust, Pandemic Analysis, Debt

41:30Maintaining Public Trust: Sticking to the Fed's Mandate and Staying Out of Politics

Maintaining Public Trust: Sticking to the Fed's Mandate and Staying Out of Politics

43:45Avoiding Speculation on Future Fed Leadership and Policy

Avoiding Speculation on Future Fed Leadership and Policy

44:30Economic Uncertainty: The Limits of Models and the Reality of Fat Tails

Economic Uncertainty: The Limits of Models and the Reality of Fat Tails

47:15Money Supply, Stimulus, and Supply Shocks: Explaining Pandemic Inflation

Money Supply, Stimulus, and Supply Shocks: Explaining Pandemic Inflation

51:21U.S. Debt Sustainability: The Path is Unsustainable

U.S. Debt Sustainability: The Path is Unsustainable