Free Falling: Interest Rates, UK Ambassador’s Resignation, and Ticker Tape

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theSkimm

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4.5 • 3.6K Ratings

🗓️ 10 July 2019

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, the Federal Reserve’s top guy Jerome Powell spoke. He doesn’t do that much. But when he does - it’s important. Especially when it comes to interest rates. We’ll tell you what you – and your wallet – need to know. Meanwhile, there is drama going down across the pond. (Again.) Some comments the UK ambassador to the US made about President Trump leaked. Now, the ambassador is saying ‘cheerio’ to his post. We’ll explain. Also on today’s episode: why ticker tape parades are a thing, and the unexpected impacts of tariffs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Wednesday, July 10th.
0:03.1	Welcome to Schim this.
0:04.5	We're breaking down the most complex stories of the day and giving you the context on why
0:08.4	they matter.
0:09.4	Today, the Federal Reserve's top guy was on Capitol Hill, giving lawmakers the lowdown on the
0:14.5	economy, and hints about interest rates.
0:17.5	We've got what you need to know.
0:19.1	Then, the UK's ambassador to the US is stepping down after a scandal that could threaten our
0:23.9	special relationship.
0:25.6	We'll connect the dots.
0:26.9	And finally, the World Cup champs floated through a ticker tape parade in NYC today.
0:31.5	Yep, that's still a thing.
0:33.8	We're here to make your Wednesday smarter.
0:35.8	Let's skim this.
0:39.3	The most complicated story today is about the Fed.
0:42.7	Short bore the Federal Reserve, the US Central Bank.
0:46.8	It's supposed to regulate how banks operate and help keep the economy stable.
0:51.0	Mostly through interest rates.
0:53.2	We know stability, interest rates, beyond.
0:57.4	But for stock markets and pretty much anyone who cares about their money, today's Fed
1:01.5	news was huge.
1:03.4	Because today, the chair of the Federal Reserve, a guy named Jerome Powell, said words.
	...

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