Fed leaders echo calls for caution
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 19 April 2024
⏱️ 1 minutes
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Summary
Stocks close mixed; Chicago Fed president says inflation progress has stalled; American Express profits rise; Netflix to stop reporting quarterly membership numbers.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. |
| 0:05.3 | Stocks were mixed on Friday. The Dowel rose more than half a percent, but the S&P fell 9 10 percent, |
| 0:12.0 | and the NASDAQ lost 2%. |
| 0:15.0 | Several members of the Federal Reserve's leadership have said this week that the Central |
| 0:18.1 | Bank should wait longer before cutting interest rates, since inflation seems like it's |
| 0:22.2 | sticking around. |
| 0:23.4 | On Friday Austin Goolsby, the president of the Chicago Federal Reserve, said progress on inflation |
| 0:28.3 | has stalled this year and that it makes sense to wait and get more clarity. |
| 0:33.2 | American Express says profits rose 34% last quarter, |
| 0:36.6 | compared to the same time a year ago. |
| 0:38.4 | The company says consumer spending on its credit cards rose 8%. |
| 0:42.0 | A lot of his cards come with hefty annual fees and fee income was up. |
| 0:47.0 | And Netflix says its subscriber count rose 16% compared at the same time a year ago, |
| 0:51.7 | but next year it'll stop reporting those numbers, |
| 0:54.5 | in part because it's working on new sources of revenue. |
| 0:57.5 | I'm Justin Ho, with the Marketplace Minute. |
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