BREAKDOWN: The Fed Hikes, Credit Tightens and Commercial Real Estate Looks Like the Next Problem for Banks
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 24 March 2023
⏱️ 17 minutes
🧾️ Download transcript
Summary
The U.S. central bank hiked interest rates by 25 basis points, even as credit tightens across the economy.
NLW catches up on the macro in the wake of the recent Federal Open Market Committee meeting and interest rate decision. The stakes were higher going into this meeting thanks to the banking crisis. As the Federal Reserve stays determined to keep hiking, is commercial real estate poised to be the next challenge?
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Malte Mueller/Getty Images, modified by CoinDesk.
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Transcript
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| 0:00.0 | In the wake of one of the most tumultuous years in crypto history, the conversations happening |
| 0:05.9 | at Consensus 2023 have never been more timely and important. |
| 0:09.9 | This April, CoinDest is bringing together all sides of the crypto, blockchain, and Web3 |
| 0:13.4 | community to find solutions to crypto's thornyest challenges and finally deliver on the |
| 0:18.1 | technology's transformative potential. |
| 0:20.1 | Join developers, investors, founders, brands, policy makers, and more in Austin, Texas, April 26th to 28th for Consensus 20203. |
| 0:27.7 | Listeners of the breakdown can take 15% off registration with code breakdown. |
| 0:32.2 | Register now at consensus.coindus.com and join CoinDesk at Consensus 20203. |
| 0:44.9 | Thank you. dot coin desk.com and join coin desk at consensus 2023. Welcome back to The Breakdown with me, NLW. |
| 0:49.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is |
| 0:56.0 | reduced and distributed by CoinDesk. What's going on, guys? It is Friday, March 24th, and today |
| 1:03.4 | we're talking about why Powell has laughed off banking concerns with another 25 basis point hike. |
| 1:09.7 | A quick note before we dive in, there are two |
| 1:11.2 | ways to listen to the breakdown. You can hear us on the Coin Desk podcast network feed, which comes |
| 1:15.1 | out every afternoon and features other great Coin Desk shows, or you can listen on the breakdown |
| 1:18.8 | only feed, which comes out a few hours later in the evening. Wherever you listen, if you are |
| 1:22.5 | enjoying the show, I would so appreciate it if you would take the time to leave a rating or a review. All right, guys. |
| 1:28.0 | So as I said, today we are catching up on the macro, |
| 1:31.3 | as we had an important moment to understand how the powers that be were feeling |
| 1:36.5 | in the wake of the last few weeks' turbulence in the banking space. |
| 1:40.4 | Indeed, the world for this FOMC meeting looked very different from where things were last time, |
| 1:45.8 | at least or especially to the casual observer. |
... |
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