What happens when the stars align for a macroeconomist — publishing a lengthy tome on monetary policy just as inflation runs rampant? John Cochrane, the Hoover Institution’s Rose-Marie and Jack Anderson Senior Fellow and the author of The Fiscal Theory of Price Level (2023), discusses misconceptions around how the Federal Reserve goes about its business; why economic policy factors into the great-power competition with China; his fascination with Calvin Coolidge; plus why (in John’s opinion) Portuguese Water Dogs are the kings of all canines. The Fiscal Theory of Price Level https://www.johnhcochrane.com/research-all/the-fiscal-theory-of-the-price-level-1 ABOUT THE SERIES GoodFellows, a Hoover Institution broadcast, features senior fellows John Cochrane, Niall Ferguson, and H.R. McMaster discussing the social, economic, and geostrategic ramifications of this changed world. They can’t banter over lunch these days, but they continue their spirited conversation online about what comes next, as we look forward to an end to the crisis. For more on this series visit: https://www.hoover.org/goodfellows The opinions expressed on this channel are those of the authors and do not necessarily reflect the opinions of the Hoover Institution or Stanford University. © 2024 by the Board of Trustees of Leland Stanford Junior University. 🔔 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