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WSJ What’s News

Fed Holds Rates Steady, but Signals Another Hike This Year

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 20 September 2023

⏱️ 16 minutes

🧾️ Download transcript

Summary

P.M. Edition for Sept 20. WSJ’s chief economics commentator Greg Ip discusses the U.S. Federal Reserve’s decision to keep interest rates steady at a 22-year high. And reporter Ryan Dezember discusses why Wall Street’s real estate giants are struggling to buy properties amid a shortage in supply. Plus, the White House warns of the impact of a government shutdown. Sabrina Siddiqui hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:26.8

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0:34.6

The Fed holds rate steady, but signals another hike could come this year.

0:38.8

And even America's biggest landlords can't find properties to buy.

0:43.4

These companies really haven't had any adversity in buying homes.

0:46.8

You know, they started when homes were selling for far less than a cost to build them.

0:51.2

Then they were using very cheap and eager financing from Wall Street.

0:55.6

After the crash was kind of cleaned up.

0:58.0

And this is the first time they've really had a problem making the numbers work on the open market.

1:02.8

Plus, the White House is warning of major consequences if Congress fails to pass a bill to avoid a government shutdown.

1:10.0

It's Wednesday, September 20th. I'm Sabrina Siddiqui for the Wall Street Journal,

1:14.0

sitting in for Ann Marie for Tolley.

1:16.2

This is the PM edition of What's News, the top headlines and business stories that move the world today.

1:26.2

The Federal Reserve held interest rate steady at a 22-year high,

1:33.4

but it signaled it's prepared to raise rates again this year to combat inflation.

1:38.2

Today's decision marks the second meeting this year that the Fed opted against raising rates.

1:43.2

It also paused in June.

...

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