Kansas City's Fed President on What Everyone Will Be Talking About at Jackson Hole

In this episode of the Odd Lots podcast, hosts Tracy Alloway and Joe Weisenthal interview Jeff Schmidt, president of the Kansas City Fed, to preview the annual Jackson Hole Economic Symposium. They discuss the symposium's theme, "Labor Markets in Transition, Demographics, Productivity and Macroeconomic Policy," and delve into topics such as the impact of AI, aging demographics, and immigration on the labor force and monetary policy. Schmidt shares insights on how the Fed considers these factors when setting monetary policy, addresses concerns about central bank independence, and provides his perspective on the current restrictiveness of interest rates. The conversation also touches on quantitative tightening, bank reserves, and the modernization of the discount window process.