8: The Federal Budget Process Is Broken
Update: 2025-09-19
Description
John Diamond explains why a weakening labor market is pushing the Federal Reserve to cut the federal funds rate (even in the face of sticky inflation). He also unpacks the looming government shutdown — and why, unless Washington reforms its budget process, we should expect bigger deficits and higher inflation risk.
This conversation was recorded on Sept. 16, 2025.
Clips used in this episode:
- “Revised job numbers raise new concerns about economic slowdown,” PBS News, Sept. 9, 2025.
Follow John Diamond on X (@jw_diamond) and LinkedIn.
You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.
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