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Joe Gagnon is a senior fellow at the Peterson Institute for International Economics and was formerly a senior staffer at the Federal Reserve Board of Governors. Joe is also a returning guest to Macro Musings, and he rejoins the podcast to talk about Fed Chair Jerome Powell\u2019s speech at the Jackson Hole Economic Symposium. Specifically, Joe and David talk about the future direction of r star, what current inflationary trends mean for the Phillips curve, the Fed\u2019s commitment to a two percent inflation target, and a lot more.

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Transcript for this week\u2019s episode.

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Register now for the Bennett McCallum Monetary Policy Conference!

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Joe\u2019s Twitter: @GagnonMacro

Joe\u2019s PIIE profile

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David Beckworth\u2019s Twitter:\xa0@DavidBeckworth

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Related Links:

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*Low Inflation Bends the Phillips Curve Around the World* by Joe Gagnon, Kristin Forbes, and Christopher Collins

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*Fed Chair Powell\u2019s Message in Jackson Hole: Two Means Two* by David Wilcox

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*Why the Era of Historically Low Interest Rates Could Be Over* by Nick Timiraos