Hear that? That’s the sound of millions of Americans dusting off their ACs.
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 10 April 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
Inflation is hotter than anticipated, according to today’s consumer price index. Electricity, for instance, cost 5% more year over year. And in the coming months, demand for electricity is expected to grow — scientists predict this summer is gonna be a hot one. In this episode, an air conditioning price forecast. Plus, the lone busy cargo facility in Baltimore, country music’s Black influences and an economic fortuneteller that’s always changing its mind.
Transcript
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| 0:40.0 | Okay look was this morning's inflation report great? No. Was it terrible? Also, no. Another thing |
| 0:49.5 | it was not, though, unexpected. From American public media this is market |
| 0:57.0 | plants In Los Angeles, I'm Ka Rizdahl. It is Wednesday, today, the 10th of April. |
| 1:09.7 | Good as always to have you along, everybody. The details of this morning's updated |
| 1:14.5 | Consumer Price Index you have surely heard or read a time or two today. |
| 1:19.3 | Inflation is running at 3.5% year on year, 3.8% annually if you take out food and energy costs |
| 1:27.0 | which can bounce around a lot and so can muddy the readings even though yes we all do |
| 1:32.2 | use food and energy but that is not the most important thing |
| 1:36.3 | to know today. We've been saying that we expect inflation to move down to 2% but on a |
| 1:41.7 | path that is sometimes bumpy. |
| 1:43.9 | One compares the chair of the Federal Reserve to a horse's mouth at one's peril, but I asked |
| 1:49.1 | J. Powell when we had him on the program a week or so ago, that is to say I got it straight from the horse's mouth why this last mile of getting |
| 1:56.2 | inflation down to 2% has been so hard. The question then is are those just |
| 2:01.6 | bumps or are they something more than bumps? |
| 2:04.0 | Is progress on inflation going to slow for more than, you know, two months? |
| 2:09.0 | Great question, Chair Powell, the answer? |
| 2:11.0 | There isn't anybody who knows. Oh. Our position is we don't know. Okay. We'll |
| 2:17.2 | tell you what we will do if inflation does come down and that's sort of the base case. |
... |
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