Inflation, inflation, inflation
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 29 September 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/6cd13eb2-0ab7-40a5-816f-43e963a3ce05
The government bond sell-off that began last week on the prospect of higher interest rates ricocheted into the $51tn US stock market on Tuesday, weighing heavily on technology stocks, and Treasury secretary Janet Yellen warned that the US risks running out of money by October 18. Plus, the FT’s Ryan McMorrow chats about China’s latest crackdown on cryptocurrency trading and whether exchanges are cooperating.
Janet Yellen warns US risks running out of money by October 18
https://www.ft.com/content/dc589573-0284-409e-a3df-9a4b102569ac
US stocks suffer biggest loss since May as bond sell-off hits tech sector
https://www.ft.com/content/7541c364-736b-488b-a793-7ba5cf517f49
Oil prices rise above $80 a barrel for first time in three years
https://www.ft.com/content/14d4980b-8163-4359-bc4a-fb2b7f7d2c27
Cryptocurrency exchanges start cutting off Chinese users
https://www.ft.com/content/9c42c660-7e80-47c2-8b3b-3398c6a22eaf
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, September 29th, and this is your FT news briefing. |
| 0:08.4 | Inflation is the word of the day here at the briefing. Inflation fears led to the biggest |
| 0:13.0 | sell-off in the U.S. stock market since May. Inflation has become a political weapon in the latest |
| 0:18.2 | battle in U.S. Congress, and fueling fears of inflation are rising energy prices. And we'll take |
| 0:24.3 | a little detour from inflation and talk about China's latest attempt to clamp down on cryptocurrency |
| 0:29.8 | China has been trying to get rid of Bitcoin and other cryptocurrencies for years now, and |
| 0:35.8 | people have always found a way around it. I'm Mark Filipino, and here's the news you need to start your day. |
| 0:45.9 | Prices are going up in part because of the stimulus measures the federal reserve put in place |
| 0:50.2 | during the pandemic. Inflation has prompted the U.S. Central Bank to indicate it could raise |
| 0:54.9 | interest rates next year, and inflation is affecting markets and U.S. politics. So first politics. |
| 1:01.6 | Right now, U.S. Republican lawmakers are battling Democrats' attempt to lift the government's |
| 1:06.0 | borrowing limit. Yesterday, Treasury Secretary Janet Yellen warned that the U.S. risks |
| 1:10.5 | running out of money by October 18th if Congress can't agree to raise the debt ceiling. |
| 1:15.8 | Republicans have argued that raising the debt limit would fuel inflation, because it would mean |
| 1:20.4 | more money pumped into the economy. Are U.S. political correspondent Lauren Feudor reminds me that |
| 1:25.2 | lawmakers aren't just thinking about the economy here, but also next year's midterm elections. |
| 1:30.5 | And when it comes to the Republican side, they see inflation, the economy, |
| 1:34.9 | the Republican's ability to handle the economy as a winning issue. And so if they can go into next |
| 1:39.9 | year's midterm saying, you know, we're the party that will make you richer, we'll make sure that, |
| 1:43.8 | you know, prices are manageable, and you have more money in your pocket for you and your |
| 1:47.3 | family at the end of the day. And the Democrats are going to make you poorer. They certainly see |
| 1:52.1 | that as a winning message. Democrats argument as that Republicans are conflating multiple issues, |
... |
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