Higher rates for even longer (and longer)
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 May 2024
⏱️ 11 minutes
🧾️ Download transcript
Summary
The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer, and cruise operator Viking Holdings rose on its market debut. Plus the FT’s Owen Walker explains what the exit of HSBC chief executive Noel Quinn means for the bank’s China strategy.
Mentioned in this podcast:
Federal Reserve signals that interest rates will remain higher for longer
Cruise line Viking rises after launching year’s second-largest US IPO
What triggered Noel Quinn’s shock exit from HSBC
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. Good morning from the Financial Times. Today is Thursday, May 2nd, and this is your |
| 0:18.0 | FT news briefing. The Federal Reserve is signaling that interest rates will have to stay higher for longer. |
| 0:25.0 | And a cruise ship operator floated on public markets yesterday, |
| 0:30.0 | it did in fact make a splash. |
| 0:32.0 | Plus, H.S. B.C.'s next CEO will have a big problem to tackle China. |
| 0:38.0 | I'm Mark Filipino, and here's the news you need to start your dad. U.S. inflation has been uncomfortably stubborn. |
| 0:59.0 | The Federal Reserve has been |
| 1:05.0 | taking trying to bring it down with high interest rates, |
| 1:03.0 | and yet the Consumer Price Index |
| 1:05.0 | has actually been ticking up. |
| 1:07.0 | So yesterday, Fed Chair Jay Powell said that |
| 1:10.0 | the Central Bank will keep interest rates high, |
| 1:12.0 | and now it's pretty much anyone's |
| 1:14.0 | guess when a cut might come. I'm joined now by the F.T. is Claire Jones, she |
| 1:18.4 | writes about monetary policy and covered yesterday's Fed meeting. |
| 1:21.3 | Hey Claire. |
| 1:22.3 | Hello Mark. So... covered yesterday's Fed meeting. Hey Claire. |
| 1:22.8 | Hello, Mark. |
| 1:24.4 | So at one point over the course of this whole inflation saga, |
| 1:28.1 | markets thought that the Fed might cut interest rates |
... |
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