{"podcast":{"title":"The Spillover","slug":"the-spillover-7704010","podcast_index_feed_id":7704010,"rss_url":"https://feed.podbean.com/thespillover/feed.xml","website_url":"https://thespillover.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/22006505/SpillOver.jpg","author":"Council on Foreign Relations","episode_count":24,"summary":"How do critical international developments shape economic and financial markets worldwide? Each week, The Spillover traces the ripple effects of global events, exploring the intersection of policy, geopolitics, economics, technology, and finance. This podcast helps you better understand what’s happening, and why it matters to businesses, the markets, and the world.","last_synced_at":"2026-07-09T22:19:51.760160+00:00","page_url":"https://stenobird.com/podcast/the-spillover-7704010"},"episode":{"title":"What Will the Fed Become Under Chair Kevin Warsh? + Greenspan's Legacy","slug":"what-will-the-fed-become-under-chair-kevin-warsh-greenspan-s-legacy","published_at":"2026-06-23T11:30:00+00:00","page_url":"https://stenobird.com/podcast/the-spillover-7704010/what-will-the-fed-become-under-chair-kevin-warsh-greenspan-s-legacy","show_page_url":"https://stenobird.com/podcast/the-spillover-7704010","url":"https://thespillover.podbean.com/e/the-new-era-of-the-fed-measure-twice-cut-once-greenspans-legacy/","audio_url":"https://mcdn.podbean.com/mf/web/2gpjxj2986nb3pp7/Spillover262326_Fed-Roger-v1.mp3","summary":"In this episode of The Spillover, host Rebecca Patterson and former Federal Reserve Vice Chair Roger W. Ferguson Jr. reflect on the legacy of recently deceased former Fed Chair Alan Greenspan, and examine what may lie ahead for the Fed under its new chair Kevin Warsh. Hosts: Rebecca Patterson, Senior Fellow, Council on Foreign Relations (CFR) Guest: Roger W. Ferguson Jr., Steven A. Tananbaum Distinguished Fellow for International Economics, Council on Foreign Relations (CFR); Former Federal Reserve Vice Chairman (1999–2006) Description: On this episode of The Spillover, cohost Rebecca Patterson speaks with CFR Distinguished Fellow for International Economics Roger Ferguson about Kevin Warsh's first FOMC meeting as Chair of the Federal Reserve, which played out largely as predicted. To bring in fresh perspectives, Warsh has created five task forces. They cover communication, the inflation mandate, productivity and jobs, data collection, and a balance sheet framework. Well-led task forces have historically moved the Fed forward, but progress will likely be uneven and slower than hoped. As Roger Ferguson notes, “This is the kind of thing where you want to measure twice, cut once. Once you make the change, you're gonna have to live with it for a period of time.” Current conditions point to a rate hike rather than an ease. Core inflation appears stuck above three percent, energy-driven price pressures from the Iran war remain unresolved, while labor market and financial conditions are resilient. The Fed works with blunt tools and within limited frameworks. Its single national interest rate cannot target individual sectors like housing or specific prices, and its goal remains controlling inflation rather than propping up housing, or equity prices. The Fed also never establis…","meta_description":"In this episode of The Spillover, host Rebecca Patterson and former Federal Reserve Vice Chair Roger W. Ferguson Jr. reflect on the legacy of recently dec…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2541,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-spillover-7704010/episodes/what-will-the-fed-become-under-chair-kevin-warsh-greenspan-s-legacy/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-spillover-7704010/what-will-the-fed-become-under-chair-kevin-warsh-greenspan-s-legacy.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}