# UBS On-Air: Paul Donovan Daily Audio 'Prices and productivity'

Page: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-prices-and-productivity
Text version: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-prices-and-productivity.md
Podcast: [UBS On-Air: Market Moves](https://stenobird.com/podcast/ubs-on-air-market-moves-2992243)
Published: 2026-07-17T06:34:18+00:00
Episode link: https://www.ubs.com/content/dam/podcasts/wma/260715-prices-and-productivity.mp3
Audio file: https://www.ubs.com/content/dam/podcasts/wma/260715-prices-and-productivity.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/ubs-on-air-market-moves-2992243/episodes/ubs-on-air-paul-donovan-daily-audio-prices-and-productivity
Duration seconds: 200

## Resource

Federal Reserve Chair Warsh testified to Congress—at times sounding like a Bundesbank member, with a vehement denunciation of inflation. Warsh was keen to say the Fed was solely responsible for inflation—that is challenged by Fed research ascribing roughly 1ppt of last year’s inflation to US tariffs. Warsh also displayed a troubling fascination with the productivity pixie of artificial intelligence—technology is not a reliable driver of macroeconomic productivity, and believing that might result in policy mistakes.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/ubs-on-air-market-moves-2992243/episodes/ubs-on-air-paul-donovan-daily-audio-prices-and-productivity/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-prices-and-productivity.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.