their idea of identity politics, we don t fit in their boxes. the washington post tried to do a hit piece. but we were able to kill shot a lot of their narratives they were trying to put forward. the military needs to effect us on readiness. if you look at china s most recent comments, they are looking for a kinetic event with the united states, and it scares me. it does concern me. there is a concept in economics called opportunity costs. if i waste my time doing things that are not of value. i am losing time doing things of value. the more time the military wastes on ridiculous woke courses that don t teach people anything, it s less time spent
so, if you look at the marketplace for transaction like deposit products, money market mutual funds, cds, certain high yield savings accounts, they re offering very competitive rates. one of the reasons banks are able to keep their rates low is because consumers are slow to re optimise, they re slow to find these opportunities. but they re certainly already out there. and so, i think the first step is for consumers to make sure that they re doing what they want to do with their money and that they re aware of the opportunity costs that they re paying by staying in the account that they re currently in. matthew plosser, from the federal reserve bank of new york, a real pleasure having you on the show, thank you forjoining me and i ll check in with you soon. thanks for having me. because banks are charging more for lending, but paying less to savers, they could be in for a record year in terms of the profits they make. so, let s find out who s
people like me who can shatter their idea of identity politics, we don t fit in their boxes. the washington post tried to do a hit piece. but we were able to kill shot a lot of their narratives they were trying to put forward. the military needs to effect us on readiness. if you look at china s most recent comments, they are looking for a kinetic event with the united states, and it scares me. it does concern me. there is a concept in economics called opportunity costs. if i waste my time doing things that are not of value. i am losing time doing things of value. the more time the military wastes on ridiculous woke courses that don t teach people anything, it s less time spent
to find better deals. all rates were low. and, matthew, let me end on this. i m just wondering should central banks be doing more? can they do more perhaps to force banks to increase the rates for savers? i m not going to make a policy application here but here s what i would say is that savers have lots of opportunities besides the bank that they currently store their deposits with. so, if you look at the marketplace for transaction like deposit products, money market mutualfunds, cds, certain high yield savings accounts, they are offering very competitive rates. one of the reasons banks are able to keep their rates low is because consumers are slow to re optimise, they are slow to find these opportunities. but they are certainly out there. and so i think the first step is for consumers to make sure that they re doing what they want to do with their money and and that they re aware of the opportunity costs that they
recognition of a particular policy position and figured out the rest later. how often do we hear about that on capitol hill? but what s your reaction? well, i just think that, again, i feel like the process was just very poorly done. frankly this should be adjudicated in the laws. i m not a lawyer, but that seems to be the appropriate venue for this kind of thing. this is sort of a societal problem that we re facing right now. it feels like in many circumstances that these sorts of policies, not just this one but other ones, are sort of jamming down on a very political and tribal level. and when things like this are not done properly, it creates acrimony and a bitterness that just lingers, and it doesn t resolve anything. so i would suggest that if people want to take a serious stab at this, that they should take a different tack, take a look at what the actual issues are, what the economic impact was and the opportunity costs, and then address it from that manner in a fair way.