Interview - The Room Where It Happens: Inside the Fed's Closed-Door Meetings

Few institutions impact our daily lives more than the Federal Reserve—and rarely has it been under so much scrutiny. With interest rates, inflation, and political pressure dominating headlines, the Fed’s decisions shape everything from mortgages to credit card bills. Our guest is Austan Goolsbee, president of the Federal Reserve Bank of Chicago and a currently voting member of the Fed’s powerful policy-setting committee. In a special joint conversation with Mosheh Oinounou of Mo News and Nicole Lapin of the ⁠Money Rehab podcast⁠, Goolsbee takes us inside the “room where it happens” during high-stakes meetings, breaking down how jobs data, debt, and tariffs are influencing the economic outlook heading into the fall. We also press him on President Trump’s recent attempts to politicize the Fed, including firing Governor Lisa Cook. We dive into how the institution maintains independence amid mounting pressure from both parties. Finally, Goolsbee weighs in on whether he is more worried about the jobs market or inflation — and gives his take on what the Fed’s role should be in a rapidly changing economy. Mosheh Oinounou (⁠@mosheh⁠) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022.