Chicago Fed President Austan Goolsbee sits down with Steven Davis for a conversation about how central banks should respond to supply shocks. Steve also asks Austan for the inside story on what happens at FOMC meetings. Join our newsletter to get more commentary like this from leading experts on economic developments and their ramifications: https://www.hoover.org/podcasts/economics-applied?utm_source=youtube&utm_medium=description&utm_campaign=ea_youtube&utm_content=09222026 __________ 🔔 Subscribe for more discussions: @HooverInstitution 👍 Like and share this video! 🌐 Follow us on social media: • Facebook: https://www.facebook.com/HooverInstStanford • LinkedIn: https://www.linkedin.com/company/hoover-institution-at-stanford-university • Instagram: https://instagram.com/hooverinstitution • X: https://www.twitter.com/HooverInst The opinions expressed are those of the authors and do not necessarily reflect the opinions of the Hoover Institution or Stanford University. © 2026 by the Board of Trustees of Leland Stanford Junior University.