Moody's Talks - Inside Economics Nerdfest with Bernstein and Parrott
17 snips
Feb 20, 2026 
Jared Bernstein, former Chair of the Council of Economic Advisers and economic commentator; Jim Parrott, housing policy expert at the Urban Institute. They debate the fallout from a major Supreme Court tariff ruling, dissect Q4 GDP and labor-market signals, probe persistent housing supply shortfalls and bipartisan fixes, and weigh AI’s promise and risks for productivity and jobs.
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Episode notes
Productivity Gains Driving Growth, Not Hiring
- Slow population and labor force growth mean recent decent GDP likely reflects faster productivity rather than hiring.
- Jared suspects productivity acceleration (possibly non-AI) is raising potential growth above prior estimates.
Target Supply To Fix Housing Affordability
- Address the housing shortfall by focusing policy on building entry-level for-sale and workforce rental units.
- Expect supply fixes to take 18+ months; pair short-term relief with durable supply-side reforms.
Congressional Bills Tweak Supply Bottlenecks
- Congressional bipartisan bills focus on technical, supply-side fixes at HUD that could ease development barriers.
- Even if enacted, effects will be incremental and slow to reach production; political compromise could open opportunities to add measures.