Fed enters a new phase
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 15 December 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
The Federal Reserve slowed the pace of its interest rate increases, western sanctions are causing a steady degradation, rather than a dramatic collapse, of Russia’s economy, and billionaire Ray Dalio is teaming up with Titanic director James Cameron to invest in a luxury submarine maker.
Mentioned in this podcast:
Fed implements half-point rate rise as central banks enter new phase
Russia’s wartime economy: learning to live without imports
Bridgewater’s Ray Dalio invests in submarines for the ultra-rich
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by 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 FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Thursday, December 15th. |
| 0:13.4 | And this is your FT News Briefing. |
| 0:18.8 | The Federal Reserve eased up on its interest rate increases, |
| 0:22.4 | Western sanctions haven't crushed Russia's economy, |
| 0:26.0 | but Russians are trying to adjust to life without imports, |
| 0:29.6 | and some billionaires are racing into space, |
| 0:32.8 | but Redalio is more interested in the deep blue sea. |
| 0:38.1 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:45.4 | The Federal Reserve yesterday raised its benchmark policy rate by 50 basis points. |
| 0:49.7 | This comes after four straight rises of 75 basis points. |
| 0:53.8 | The European Central Bank and the Bank of England are today likely to follow the fed |
| 0:57.9 | similar 50 basis point increases. |
| 1:00.9 | This week's US inflation report for November showed a second straight month |
| 1:04.8 | where the rate of price increases has slowed. |
| 1:07.9 | It shows that the Federal Reserve's interest rate hikes have been working. |
| 1:12.1 | And economists say inflation is peaked, but Fed Chair Jay Powell |
| 1:16.1 | signaled that he's worried about price pressures persisting. |
| 1:19.6 | Yesterday he said the full effects of the fed's rapid tightening are yet to be felt. |
| 1:24.1 | I think we need to be honest with ourselves that 12 month core inflation is 6% CPI. |
... |
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