ThePrinntPod: Iran Parliament Speaker Ghalibaf mocks US Fed with 'Straits Taylor Rule': The Economics behind it

Description

Hours before the Federal Reserve raised rates by 25 basis points on 16 September, Iran's Parliament Speaker Mohammad Bagher Ghalibaf posted a rewritten version of the Taylor Rule, the formula central banks use to set interest rates, adding new terms for the Strait of Hormuz and Bab el-Mandeb. His argument: you can hike rates all you want, but you can't reopen a chokepoint or produce a barrel of oil. It's a sharp piece of commentary built on a real, decades-old debate in monetary economics, one the world already learned the hard way once, in the 1970s. Watch #Economix with ThePrint Consulting Editor (Economics) Bidisha Bhattacharya