A fast food “canary in the coal mine”

Marketplace

Business, News

4.6 • 8.5K Ratings

🗓️ 29 July 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

McDonald’s reported weak sales in its second quarter. A slowdown in restaurant spending — if that’s what’s happening — may signal an economic downturn is brewing. Or, are the chain’s underwhelming results a byproduct of pandemic spending trends or rising wages? Also in this episode: Being a firstborn kid has its economic advantages and three major central banks are meeting this week. Plus, we’ll explain how maximum employment is measured.

Transcript

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0:59.0	We've got a little Fed preview for you, some fodder for sibling rivalry, plus sanctions are a key tool in U.S. foreign policy, but how well do they work? From American public media, this is Marketplace. In Baltimore, I'm Amy Scott in for Ky Rizdahl. It's Monday the 29th of July.
1:31.0	Good to have you with us. It's the moment you've been waiting for. Okay, some of us have been waiting for.
1:36.5	Tomorrow the Federal Open Market Committee begins its two-day meeting to talk monetary policy. Few are expecting any movement on interest
1:45.3	rates this round, which would make it the eighth consecutive meeting with no change
1:50.1	in a full year since the Fed stopped raising interest rates in its fight against inflation.
1:56.0	The Fed isn't the only Central Bank meeting on interest rate policy this week.
2:01.0	The Bank of England is weighing a potential cut, while the Bank of
2:05.2	Japan could move in the opposite direction. Marketplace's Elizabeth Troval has the global
2:11.2	perspective. In England, just like in the US the mission has been to
2:16.2	quell inflation which has meant higher interest rates. Jane Foley is with
2:21.4	Rebel Bank. For the last couple of months we've seen
2:24.8	C. P.I inflation for the UK back at 2% and that's the Bank of England's target
	...

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