Direct redefining and terence, im Pete Muntean at Reagan National Airport this is cnn this is gps, the global public square. Welcome to all of you in the United States and Around The World. Im Fareed Zakaria coming to you from new York Today on the Program Graham the contrast between the two visions of our future could not be more stark and different. Hillary clinton, the former First Lady former senator former Secretary Of State, who of course ran for the american presidency against Donald Trump in 2016 we discussed the Middle East much more the united the nations this week with Secretary General Antonio Guterres i asked him about the war in the Middle East, which will be a year old in two weeks the war in ukraine, which will mark three years in early 2025. And why the United Nations doesnt seem to have much influence to bring about peace but first, heres my take in the clamor of the campaign season. Were missing what should be a Landmark Event the United States has managed to bring Inflation Down without so far triggering a recession such a soft landing is a rare achievement that by one measure has only happened one other time in the last 60 years. A good measure of credit should go to the Federal Reserve and the manner in which it operates. And yet that is now under threat just two years ago, inflation in america had Hit A 40 year high, reaching over 9 it has now come down to around two 2. 5 falling more and more quickly than in other major economies. The Federal Reserve could be assigned some of the blame for inflation getting so high. Door, lot of that seems to have been a result of the pandemic, which made it so that goods could not get the customers Around The World the Biden Stimulus was another factor, but its worth noting that inflation soared in many countries where the government handed out much as cash to its citizens the real mark of the federal Reserves Achievement though, is not that it made no Mistakes Everyone makes mistakes in the midst of a once in a Century Event like the pandemic it was that the fed was able to course correct. In a careful deliberate manner and crucially without much concern about the politics of its decisions. Even as many federal institutions become increasingly politicized, the fed remains largely meritocratic its a place where highly trained experts try to do what is right for the country in the long term the rate cut this week is one that most economists believe is a reasonable one. And even disagreement is muted. The financial times applauded it while the Wall Street Journal Editorial Board seemed in favor of a smaller cargo, but even the journal noted it was not made for political reasons i am not romanticizing the fed. It is made its share of mistakes. But people on the right and left to have worked their tend to find that the deliberations and decisions are largely devoid of politics Alan Blinder former Vice Chairman of the fed, who also worked in the White House, has noted the contrast between the two places with politics being dominant in the White House and good policy being the credo at the fed the feds independence has been hard one and recent. It really begins with former fed Chair Paul Volcker doing what was needed to bring inflation under control in the 19 the stagflation of the 1970s had been caused in part by a week Fed Chairman who was bullied by president Richard Nixon the lowering Interest Rates to goose the economy in time for Nixons Reelection since then, the fed has steered the american economy through booms and busts with considerable success when i looked into this topic over 20 years ago for my book, the future of freedom. The Federal Reserve along with the Supreme Court and the armed forces, tended to have much higher Approval Ratings than congress the point i made them was that it was telling that it was the places that could keep public Opinion And Pressure at bay that were most admired by the public congress by contrast, which Slavish Lee Panders to people is despised by that same public. Today. Everything is now seen in political terms. The Supreme Courts ratings have sunk partly because of its own missteps with highly politicized decisions like Bush V. Gore. And the most recent one on president ial immunity and now there is an assault on the fed. Donald trump has never liked the independence of the Federal Reserve, largely because he doesnt like the idea of any institutions being independent of his control. He was enraged that several of his Attorneys General would not act as if they were his personal lawyers. He fired the Fbi Director because he would not take direct orders from him. So despite the fact that he appointed the fed chair, jerome powell, whos a lifelong republican. He relentlessly criticize pow when he was president and did so again, this week some of his acolytes always more loyal than the king, are drawing up plans to curb the independence of the Fed The American economy is the envy of the world. It has recovered more strongly from the Pandemic Economy and unlike many others, has seen wages rise. Its major companies dominate the world if you add up the top ten public companies in europe, they do not equal the value of apple alone, or microsoft on nvidia but this image rests on Policy On American Monetary and regulatory policy that in crucial ways is still being handled in a serious nonpartisan, meritocratic manner. If this last area of american strength gets politicized, it could weaken the foundation of americas power, the edifice on which all else rests. Go to cnn. Com fareed for a link to my column this week. And lets get started the most prominent figures in american politics, Hillary Rodham Clinton was of course, First Lady of the United States, then a us senator from New York, and then served under President Barak Obama as Secretary Of State in 2016, she made history as the first woman nominated by a major party to run for president. More recently, shes added University Professor and Broadway Producer to her list of accomplishments. These experiences, among many others, are explored in her new book, something lost, something gained Secretary Welcome back. Thank you so much. Its great to be back with you. This is such a terrific book. Its, its really fascinating and wide ranging and personal i want to start by asking you about, you talked a lot in the book about what it meant to be a woman in politics and your path to it had to be slightly complicated. I mean, i looked this up, but when you went to wellesley, i believed colleges were not coed. When you went to Yale Law school, whos basically the first year that they had opened up a women. And so in some ways, you became a political spouse and gained prominence that way . Kamala harris has done it differently. And probably benefited from your opening all those doors. Do you think she has a better chance at at kind of breaking through that Glass Ceiling because of that. Well, i hope so. I really hope so. And i think that its a relay race. People do their part they tried to open doors or break through ceilings in order to make it possible for somebody to come after them. And as ai write in the book and in the epilogue to the Audio Version that i read i didnt know how i would feel because obviously it was a huge disappointment not to win in 2016 but when President Biden withdrew and endorsed the Vice President i immediately along with my husband, endorsed her as well. And it felt right. It felt exciting, exhilarating. I think she is not only absolutely equipped and ready to be president. I think we need somebody like her, right now for read in what sense . This is an election not just between two people two tickets, two parties. It really is an election between democracy and autocracy, freedom and oppression. But also between leadership that wants to bring us together to do big things to demonstrate america is fully ready to be as prosperous and as focused at home and leading abroad because the world needs that and so the contrast between the two visions of our future could not be more stark and different i think Kamalas Campaign has demonstrated as its already been written and talked about, a level of energy, even joy the contrast is the trump campaign. Its dark, its dystopian its filled with attacks on different kinds of people, Fingerpointing And Scapegoating thats a very different view of who we are as a people and what we should aspire to. Why do you think he gets almost half the country behind him in particularly the Working Class. You talk about this in the book, how the Working Class gravitated toward the republican party after the 1970s and 80s, right well, i write about, and obviously ive talked and thought a lot about this. I think there are a number of reasons i think that people have high expectations for their own lives and for the leaders that they invest themselves in and if you are disappointed or feel like youre falling short or worried that your children will not do better than you did . Its natural to be somewhat unmoored and leaders can appeal to you. And one of two ways and ive seen both. Ive seen leaders who say, yeah, you know what, we have problems . I want you to be involved in helping to fix them. I want to empower you. I want to create the tools you need to chart a better life for yourself in your family. Where you have leaders saying, you know what . Its rigged against, you you deserve better youve lost that job to name the Minority Groups or immigrants, or minority of whatever kind that is getting an unfair advantage im giving you an explanation for why you feel stuck or disappointed you know, historically america has fallen in the first category. Its like, Okay Go West if youre not happy where you are have mobility to go find a job, i was saying to you before we started, my Father Hop Day Freight Train in scranton, pennsylvania because he heard there might be a job in chicago during the Great Depression there was an energy and an optimism that has really marked who we are but the combination of demagogic leaders like trump, who appeal to the fears, not the hopes, the fears and Social Media which can spread. All sorts of conspiracy theories, Alternative Explanations it turned into facts about why things arent going as well as you would like them to go or what can be the explanation for that so i think theres a social, political cultural, and technological set of reasons that add up to the political differences you talking about how important it was for you to to take on womens issues and by womens issues, i mean helping women with their Health Care with their child care. And you were frustrated throughout your career that these were seen as womens issues and not societies issues and yet they had a huge impact on society, atlarge, right . Yeah, well their economic issues too well, youre right there. There. Society issues, economic issues, and a lot of these issues like child care, paid Family Leave have been dismissed for way too long as kind of side issues, womens issues but, the evidence is. Overwhelming that we are making it so difficult for families to balance. Their Work Life and their Family Responsibilities if you are concerned about the falling birth rate, if you concerned about increasing productivity, if you are concerned about how we need to be supporting the most important job in society, which is raising children. Then you should be in favor of things like paid Family Leave and early Childhood Education next on gps, Hillary Clinton has been teaching at Columbia University after the break. I asked her about Campus Turmoil around the Israel Hamas War On The Edge premieres tonight at nine on cnn but not the cost of your current plan no problem with Straight Talk you love and get one line for 25 a month. When you switch to strike we talked thats up to half off the price of the competition plus the best part of all get to 200 credit for a new phone after 12 months with straight savings, you saved. Now and later. It just makes sense. Straight talk, real unlimited data, less dollars, more sense hes coming in the driveway treated for leukemia i hope that she lives along great and that she will never forget how Mom And Eddie lover st. Jude i mean, this is whats keeping my Baby Girl a lot this September Number you can join the battle to save lives during Childhood Cancer Awareness month by supporting st. Jude Childrens Research Hospital for just 19 and dollars a month. Your help us continue the lifesaving Research And Treatment these kids need. Now. And in the future case or makes me felt well youre not in like feel on the outside. The strange item angry. Had when your kid is hurting and theres nothing you can do about it . Thats the feeling in the world five children diagnosed with cancer in the u. S will not okay. Survived those that donate to st. Jude hope that you continue to give the afternoon so much for me happy with your Debit Or Credit card now, and well send you this st. Jude tshirt that you can proudly wear it stands that one look . Elam below the mean . He is one of these we didnt know what tomorrow would hold. St. Jude showed us that tomorrow. Theres hope for our Little Girl to surpass lets cure Childhood Cancer together please donate. Now two very different visions for our nation. One focused on the future and the other focused on the past. When the middle class is strong, america is strong lowering the cost of living will be a defining goal. My president , our lower the cost of Insulin And Prescription drugs for everyone. And i will work to pass the first ever federal ban on price hi housing, on food. More than 100 Million americans will get a tax cut. We will end Americas Housing Shortage by building 3 Million new Well Homes and rentals. That are affordable for the middle class together, we will build an economy where everyone can compete and have a real chance to succeed now is the time to chart a new way forward im pamela for harris and i approve this message. Meet the jennifers gen x, gen y, and Gen Z. Each planning their future for the chase mobile app. Gen x is planning a summer in portugal with some help from jpmorgan Wealth Plan. Lets go whiskers. And why is working with the banker to budget for her birthday . You only turned 30 once. And gen z, her credits go then hello new apartment three jens getting ahead with Chase Solutions that grow with you. One bank for now, for later, for life chased, make more of whats yours hello, was captured and brought to you by guilt. Visit gilt. Com today for up to 70 off designer brands. Hills house. The designers that get your Heart Racing had inside a prices knew every day, hurry. Therell be gone in a flash. Designer sales at up to 70 . As guilty. Com today and we are back with the former First Lady, former Secretary Of State, former senator Hillary Rodham Clinton. Mrs. Clinton, along with president clinton and chelsea will welcome World Leaders to the clinton global Initiative Conference here in New York. This coming week things in the Middle East are very complicated, but the middle East Debate at home is also very complicated and youve, youve watched it in a sense that participated in a way because youve been teaching this course in columbia and i think there was, there has been some Student Reaction describe what you whats your sense of whats going on on campuses with the Middle East right now . Well, actually i have a whole chapter about that in the book because it was quite striking to me i coteach a course with the Dean A Very Distinguished Political Scientist at the School Of International And Public Affairs called inside the situation room. Wed love to have you come some class freed incredible students, very large lecture kept class like 375 students from across the university, mostly students from seat, but the school we teach it and we taught the wednesday after October 7 and it was it was a very somber difficult class. We hurried through, are prepared curriculum, and then we basically sat down and answered questions for 45, 50 minutes and the questions were really raw. I mean we had a student from palestine a palestinian student. We had a student from israel. We had students from across the Middle East. We had students from asia and obviously the rest of the world struggling to understand what all of it meant. But it was a respectful informative open dialog and literally at The End of it, the students applauded. That was on wednesday by within. A few days, we were doing an event and we started being protested. The dean and i and our guests and being screamed at being called. You know, all kinds of names. What happened in that period. And the best i can sort of unpack it is that there there were already existing groups within our country and particularly on certain campuses like columbia who had talking points, they had a plan for protests and disruption and i watched it sort of morph into something that was not student led, even though students participated but which had outside funding, outside direction and i still to this day, im not quite sure all that was going on with it. And a lot of students were caught up in that. And a lot of the videos on Social Media gave not just a onesided view of the conflict, but a totally anti0israel pro hamas, not just pro palestinian view for me, it was distressing because look i have my own opinions formed over many years. Im willing to sit down and have a conversation with anybody but its difficult to have conversations with people who hold strong opinions with no fac