Interest rates are high, but consumer confidence is up

Marketplace

News, Business

4.6 • 8.6K Ratings

🗓️ 26 July 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sure, today the Federal Reserve hiked its key interest rate to the highest level since 2001. But consumers are feeling much rosier about the economy lately, thanks to cooling inflation and a strong labor market. Plus, higher interest rates spell trouble for businesses, and a lack of investment in women’s soccer has debilitating physical consequences.

Transcript

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0:22.4	J Powell and our economic future in 13 relatively easy sentences.
0:30.0	From American public media, this is Marketplace.
0:43.6	In Los Angeles, I'm Kai.
0:44.9	Rizadal, it is Wednesday today the 26th of July.
0:48.2	Good as always to have you along, everybody.
0:51.1	Good afternoon.
0:52.1	It occurred to us the other day.
0:54.0	At the Federal Reserve, we are strongly committed
0:56.2	to achieving the monetary policy goals
0:58.2	that Congress has given us.
0:59.8	Maximum employment and price stability.
1:01.9	But the Fed Chair has been saying almost the same dog on thing.
1:06.6	Today in support of these goals, the FOMC raised its policy interest rate
	...

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