BREAKDOWN: The Fed’s Interest Rate Message Is Clear – Get to 5% and Keep It There
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 10 January 2023
⏱️ 17 minutes
🧾️ Download transcript
Summary
Fed Governors Bostic and Daly both affirmed the position in comments this week.
On today’s episode, NLW looks at the latest communiques from Federal Reserve officials, including comments by Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly, as well as a speech on Tuesday by Federal Reserve Chair Jerome Powell. The message is “higher for longer” even if the markets don’t agree.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell 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: Morrison1977/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:49.6 | Of the more than 6 trillion in US government spending last year, almost half a trillion |
| 0:53.9 | was spent on interest payments to debt holders, an increase of $100 billion compared to 2021. |
| 0:59.5 | Interest payments to private investors have now become such a significant part of government |
| 1:02.8 | spending that increased interest rates could have a stimulative effect via increased government |
| 1:07.1 | deficit spending. |
| 1:08.6 | Just another example of how weird and uncharted some of these |
| 1:12.1 | waters are right now. Welcome back to The Breakdown with me, NLW. It's a daily podcast on |
| 1:20.9 | macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is produced |
| 1:26.4 | and distributed by CoinDesk. |
| 1:30.6 | What's going on, guys? |
| 1:31.7 | It is Tuesday, January 10th, and today we are going macro and talking about the latest comments out of the Fed. |
| 1:39.5 | Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, |
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