Got debt?

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 9 August 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

For the first time, credit card debt in the U.S. has hit $1 trillion. The record was hit thanks to a combination of inflation, high interest rates and Gen Z confidence. Plus, the Biden administration is expected to restrict U.S. firms from investing in certain kinds of China-based tech. We’ll also discuss diversity at a major upcoming economic conference.

Update (8/9/23): The story about diversifying the Kansas City Fed’s Economic Policy Symposium has been updated to accurately reflect Boston Fed President Susan Collins’ involvement. For more information, check out the story on marketplace.org.

Transcript

Click on a timestamp to play from that location

0:00.0	The White House is set to further separate the U.S. economy from China's with new limits
0:06.4	on investing.
0:07.4	I'm David Brancantje.
0:09.2	The U.S. is planning to ban U.S. private equity and venture capital firms from investing
0:14.7	in certain kinds of technology in China.
0:17.7	The Biden administration could post an executive order this morning, Marketplace's Samantha
0:21.9	Fields report.
0:23.0	The ban is expected to apply to some investments in semiconductors, quantum computing, and artificial
0:28.5	intelligence.
0:29.5	Companies that make other kinds of investments in tech in China will also be required to report
0:33.9	them to the U.S. government.
0:35.7	The goal with this order is to prevent China from developing cutting-edge military technology
0:40.6	that could threaten U.S. national security.
0:43.7	The move is part of a broader government effort to prevent American technology and money
0:48.0	from helping China develop advanced weapons that could potentially use against the U.S.
0:52.5	in the future.
0:54.0	Last year, the Biden administration started restricting exports of advanced semiconductors
0:58.6	and chip manufacturing equipment to China.
1:01.4	The new rules are not expected to go into effect immediately.
1:04.7	Instead, there will likely be a comment period before they're finalized.
1:08.7	I'm Samantha Fields from Marketplace.
1:12.2	Consumers of the U.S. have over $1 trillion in credit card debt.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.