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Power and Consequences: Daily Summaries Delivered
by Third Clumber Productions
Every day seems to bring unprecedented news in the political sphere. But what exactly is happening, what is most important, and what is likely to stick around or provoke backslash? Professors Gary Gensler (former SEC chair) and Simon Johnson (Nobel Prize-winning economist) tackle a single policy topic each week, explaining how the events of today will affect you tomorrow.
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The most recent episodes — sign up to get AI-powered summaries of each one.
- Yesterday39 min
Episode 36: The Midterm Elections: What’s Next?
Gary and Simon discuss the U.S. midterm elections, focusing on consequences for Congress, the 2028 presidential elections, President Trump, and the public. Topics cover political messaging, congressional oversight (including possible impeachment efforts), legislative priorities, the 2028 elections, presidential primaries, and President Trump’s next two years. What will the elections mean on affordability, AI, healthcare, immigration, trade, and the Iran war? How will the midterms shift power dynamics going forward? How is Corporate America adapting its strategies in response? Most importantly, how might the next two years be crucial for American politics, governance, and you?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- 1 weeks ago38 min
Episode 35: What Will The Fed Do Next?
Gary and Simon explore what’s next for the Federal Reserve - given inflation continues to be above their 2% target. How should the Fed navigate the Iran conflict continuing to keep energy and fertilizer prices elevated; the AI investment booming pushing up prices for chips, electricity, and construction; and high tariff rates? With bond yields pushing up borrowing costs while Europe grabbles with unrest over fiscal and debt imbalances, what might it mean for US inflation and employment growth. With sticky inflation and the US economy still running strong, when might the Fed raise rates again? How could a retrenchment of the AI investment boom or a new European debt crisis impact the US and Fed policy?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- 2 weeks ago40 min
Episode 34: Where Is the Global Economic Cycle Headed?
Gary and Simon discuss the global economic cycle in the wake of IMF / World Bank annual meeting. Are growth and income still heading in a positive direction or is a worldwide slowdown imminent? With interest rates rising, high stock market valuations, inflation persistent, energy prices elevated, and unsustainable federal deficits, there are signs of growing economic and financial fragility in numerous economies currently dependent on the AI boom. Could we be facing a potential repeat of the bust after the Internet investment boom of the late 1990s? Or from the housing boom of 2005–8? While all global economic upswings share happy similarities, each global economic downswing is unhappy in its own way.A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- 3 weeks ago39 min
Episode 33: The IMF Annual Meetings - Why Should You Care?
Gary and Simon discuss the IMF / World Bank October annual meetings, why they matter and the history of these multilateral organizations. What do the world’s leading central bankers, finance ministers, and economic policy actors come together to discuss? What are the US, Europe, China & the Global South looking to achieve? Will there be any relevant action on continued energy price shocks; global sovereign debt levels, inflation, or AI’s economic effects? Will the US succeed in narrowing the World Bank's consideration of climate change when lending, and might other nations make progress on efforts to revise IMF quotas and voting - possibly diminishing US and Europe’s influence over IMF decisions?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- 4 weeks ago37 min
Episode 32: How Much Trouble is Europe In?
Gary and Simon explore the economic & political challenges facing Europe, tackling the impact of the Euro and the tensions arising from immigration and energy dependence. Why hasn't the EU's project to create a unified economy fully succeeded? Why have Europe's capital markets remained fragmented and how has the Euro possibly held Europe back? What has led to the rise of nationalist, euro-sceptic, anti-immigration political parties and what does it mean for Europe’s future? As Europe has fallen behind US IT for decades now, what will the rise of AI mean for Europe and its challenges?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- Sep 28, 202640 min
Episode 31: Should We Slow AI Development? Can We?
Gary and Simon discuss whether we should slow the development of AI and can we slow its pace? They explore AI's capabilities, limitations, and characteristics which have led to growing real world risks. Unpacking OpenAI's recent Hugging Face incident, they analyze the challenges of aligning AI with human intentions. Will the US be able to get ahead of these risks? Will China cooperate on developing policy regulations for AI?This is the second part in a two-part series focusing on artificial intelligence. The first part, "What Are We Getting With All These Data Centers?" is available to listen to now.A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- Sep 21, 202642 min
Episode 30: What Are We Getting With All These Data Centers?
Gary and Simon dive into the important topic of the big data centers building boom, particularly for artificial intelligence. No building boom lasts forever. When the slowdown comes, what will be the economic and financial markets consequences? What are the effects on electricity prices, water use, the environment and local communities?This is first of a two part series - next week's discussion will be: Should we (or can we) slow the development of AI?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
- Sep 14, 202645 min
Episode 29: What Happened to Japan?
Gary and Simon discuss Japan, examining its rise as a global economic powerhouse post-World War II, the valuation bubble that popped in 1990, and the policy mistakes contributing to the ‘lost three decades’ since. What are the lessons from Japan which might apply to China or the United States today? Further, why has the US Treasury recently intervened recently to support the Japanese Yen and how do Japanese policies affect US interest rates?A video version of Power and Consequences is now available on YouTube. Please visit that channel also for additional short content.For bonus thoughts and recommended reading for each episode, visit powerandconsequences.com, where you can sign up for our newsletter!Host bios:Gary Gensler, former Chair of the Securities and Exchange Commission, is Professor of the Practice of Global Economics and Management, and Professor of the Practice of Finance, at MIT Sloan School of Management. His research focuses on artificial intelligence, finance, and economic policy. He previously served as Chairman of the Commodity Futures Trading Commission, Under Secretary of the Treasury for Domestic Finance, Assistant Secretary of the Treasury, Chair of the Maryland Financial Consumer Protection Commission, and Senior Advisor to Senator Paul Sarbanes. Earlier, Gensler was at Goldman Sachs for 18 years, where he became a partner.Simon Johnson, a 2024 Nobel laureate in economics and former Chief Economist at the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management, head of its Global Economics and Management group, and Co-Director of MIT’s Stone Center for Inequality and Shaping the Future of Work. He co-chairs the CFA Institute Systemic Risk Council and is an AI Ambassador for the UK. Simon is the author of 13 Bankers, Jump-Starting America, and Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity.Gary & Simon also recently co-edited, with Ugo Panizza and Beatrice Weder di Mauro, The Economic Consequences of the Second Trump Administration.
About Power and Consequences
Every day seems to bring unprecedented news in the political sphere. But what exactly is happening, what is most important, and what is likely to stick around or provoke backslash? Professors Gary Gensler (former SEC chair) and Simon Johnson (Nobel Prize-winning economist) tackle a single policy topic each week, explaining how the events of today will affect you tomorrow.
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