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Real Vision: Finance & Investing

Daily Briefing – Aug 28, 2020 – Inflation is a Proxy for GDP: Ed Harrison

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.11.1K Ratings

🗓️ 28 August 2020

⏱️ 33 minutes

🧾️ Download transcript

Summary

Real Vision senior editor, Ash Bennington, and managing editor, Ed Harrison, react to the new U.S. consumer spending report out today from the Commerce Department. Despite gains for three consecutive months, momentum fell as the COVID-19 pandemic lingers and fiscal support dries up. They also discuss inflation rhetoric following yesterday’s announcement from the Fed to keep interest rates lower for longer as well as the Fed’s dual mandate and how they may need to retire the use of the Phillips Curve. Real Vision editor and reporter Haley Draznin is introduced for the first time to discuss her new role and what financial news stories she is keeping a close eye on. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

It's Friday, August 28, 2020, just after market close in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington joined shortly by Ed Harrison. But first, Real Vision editorial team's newest member, Haley Drasnan. Welcome to the Real Vision Daily Briefing,

0:24.0

Haley.

0:25.0

Thanks so much for having me on the Daily Briefing, Ash.

0:27.0

I'm super excited to be part of the Real Vision team.

0:29.0

Well, we're happy to have you here.

0:31.0

Tell us a little bit about how you found Real Vision. Sure. So I've been in the

0:36.0

journalism fields for the last nine years, you know, keeping my eye on markets and profiling

0:42.0

CEOs and executives and leaders and entrepreneurs. and you know the thoughtful conversations in-depth analysis and the community that you've built

0:55.1

you know covering financial markets and you know what what inspires investors.

1:00.7

Yeah so Haley let's just dive right in What stories are you looking at right now?

1:04.3

So right now you know I'm keeping my eye on what's making Tik-Tok tick right?

1:10.1

Walmart now jumping into the ring possibly partnering with Microsoft for a potential purchase of

1:16.3

Tic Talk US operations, you know, why?

1:20.4

I'm keeping my eye on consumer spending.

1:24.1

You know, we're seeing some gains this July now.

1:28.3

However, you know, we're also seeing

1:30.9

consumer confidence tumbling.

1:33.0

So what's going on there and a big question mark

1:36.4

on what the coming months will look like

1:38.8

given the hit to personal income nationwide

1:42.4

and the loss of those you know $600 weekly

1:45.0

unemployment benefit checks. Also keeping my eye on the European Central

...

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