The Federal Reserve is continuing to raise interest rates in an attempt to crush record high inflation. But how far will they go, could it lead us into a recession with massive job loss, and how will stock markets react? Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, offers a candid look at the tools at the Fed’s disposal and explains why they’re taking strong actions at the risk of economic pain for Americans.

Keep up with Andy on Twitter @ASlavitt.

Follow Neel Kashkari on Twitter @neelkashkari.

Joining Lemonada Premium is a great way to support our show and get bonus content. Subscribe today at bit.ly/lemonadapremium. 

Support the show by checking out our sponsors!

• Click this link for a list of current sponsors and discount codes for this show and all Lemonada shows: https://lemonadamedia.com/sponsors/ 

Check out these resources from today’s episode: 

• Watch Federal Reserve Chair Jerome Powell’s latest speech announcing the third interest rate increase in a row: https://www.pbs.org/newshour/politics/watch-live-federal-reserve-chair-jerome-powell-gives-update-after-decision-on-interest-rates
• Find vaccines, masks, testing, treatments, and other resources in your community: https://www.covid.gov/
• Order Andy’s book, “Preventable: The Inside Story of How Leadership Failures, Politics, and Selfishness Doomed the U.S. Coronavirus Response”: https://us.macmillan.com/books/9781250770165 

Stay up to date with us on Twitter, Facebook, and Instagram at @LemonadaMedia. 

For additional resources, information, and a transcript of the episode, visit lemonadamedia.com/show/inthebubble.

See omnystudio.com/listener for privacy information.