Here’s a simple activity to show your students economic principles in action at Fed Chair Powell’s press conference on March 16. Thanks to Ren Makino and Melody Chou of NGPF for turning this concept around in record time. They created timestamps for the questions that Chairman Powell answered during the press conference. These show notes guide students working in groups so they know where to find answers to this short 8-question quiz.

Short summary of the activity:

Form student groups of 3-4 Each group will work together to complete the short quiz (8 questions). The answers to the quiz questions can be found by watching the video of the press conference. Each of the questions has a timestamp where the answer can be found.

For those wishing to edit this form and add/edit questions, here is a link to an editable form.


0:00~7:30 Introductory statement 7:30~8:55 Weighing the risk from recession to embedded inflation 8:55~11:03: Lowering FED GDP projections driven by spillovers from the invasion of Ukraine 11:03~13 :05: When do you expect inflation to start to fall as fiscal support is cut, higher interest rates and supply chain issues are resolved 13:05~15:15 Higher oil prices and supply chain issues lead to inflationary pressures 15 :15~18:30 Influence of the Fed’s rate hike on inflation 18:30~21:48 Future meetings on the rate hike 21:48~23:33 The Fed’s ability to control inflation 23:33~25:04 Impact of services inflation 25:04~28:35 Why do unemployment expectations remain low, even in light of the Fed’s monetary tightening? 28:35~31:11 Is it possible to reduce consumer demand without increasing unemployment? 31:11~33:31 Older workers go back to work 33:31~36:18 Abolish pandemic-era policies 36:18~38:15 Plans to reduce the balance sheet 38:15~42:12 Framework to anchor inflation expectations 42:12~44:03 Message to the general public about lowering inflation 44:03~45:39 Message to consumers struggling with inflation 45:39~47:25 Message to employees fearing a recession 47: 25~48:45 Long term concerns about sanctions against Russia 48:45~51:42 Do we see the possible start of a wage price spiral? 51:42~54:28 Looking back on policy decisions

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About the author

Tim Ranzetta

Tim’s savings habits started at 7 a.m. when a neighbor with a broken hip gave him a dog walking job. Her recovery, which lasted nearly a year, led to Tim getting to know the bank clerks quite well (and building a savings account balance of over $300!). His recent entrepreneurial adventures include driving a chipper, analyzing compensation packages for Fortune 500 companies, and helping families make better college funding decisions. After volunteering in 2010 to establish a personal finance program and teach at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him. to start a new nonprofit, Next Gen Personal Finance. †

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