A year of the Inflation Reduction Act
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 16 August 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
US stocks hit a five-week low as a warning of potential Fitch downgrades sent bank shares lower, Beijing is making one of its biggest top-down efforts in years to tackle the debts racked up by local governments, and a year after passage of the US Inflation Reduction Act and Chips Act the vast majority of investment is going to red states.
Mentioned in this podcast:
US and European stocks hit five-week lows after strong retail sales data
China sends finance experts to tackle regions’ debts
Republican districts dominate US clean technology investment boom
Pink Floyd strike a chord as scientists recreate song from brain activity
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Josh Gabert-Doyon, Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The latest episode of the next five podcasts is all about financing net zero. |
| 0:04.6 | I speak to Tim Gould, Chief Energy Economist at the IEA. |
| 0:07.6 | We're up to $1.7 trillion going into clean energy transition investments this year. |
| 0:13.1 | Nick Standsbury, Head of Climate Solutions at LGIM. |
| 0:15.6 | We need to put a proper price on all greenhouse gas emissions. |
| 0:19.6 | And Eric Werners, SVP and Chief Economist are equinox. |
| 0:23.0 | We have to do these things together. |
| 0:24.7 | Industry cannot do this alone. |
| 0:26.8 | Listen to the full episode wherever you get your podcasts. |
| 0:29.4 | Enjoy. |
| 0:32.7 | Good morning from the Financial Times. |
| 0:34.7 | Today is Wednesday, August 16th, and this is your FT news briefing. |
| 0:40.4 | Investors were not happy consumer spending in the US beat expectations. |
| 0:45.9 | In Beijing and local governments are squaring off over debt. |
| 0:50.2 | Plus, it's been a year since the US passed major clean energy subsidies. |
| 0:55.4 | The FT looked into what states are benefiting the most. |
| 0:59.4 | I'm Sonia Hudson in for Mark Filipino. |
| 1:01.6 | And here's the news you need to start your day. |
| 1:16.8 | US stocks hit a five week low yesterday. |
| 1:20.0 | Bank shares fell after comments by an analyst from Fitch. |
| 1:24.0 | They said the agency is considering lowering the credit ratings of multiple lenders. |
| 1:29.9 | Investors were also concerned by strong US retail sales data that came out yesterday. |
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