Just keep spending

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 15 August 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Even though unemployment has bumped up, retail sales are going strong. Consumers spent $7 billion more in July than in June, the Census Bureau reported. Food, clothing, appliances and other categories saw sales growth over 2023. In this episode, is all that spending the force that’s keeping our economy afloat? Plus, the pros and cons of “dual agency” in real estate transactions and why Atlanta Federal Reserve President Raphael Bostic counsels patience.

Transcript

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0:59.0	All right, you got about a minute to think of your best question about this economy, and then we'll see if we match.
1:08.0	From American Public Media, this is market plans. This is In Los Angeles, I'm Kyle Rizdahl. It is Thursday today. This one is the 15th of August.
1:28.0	Good as always to have you along everybody.
1:30.0	Okay, so if you had a voting member of the Interest Rate Setting Federal Open Market Committee on the phone and you had six, maybe seven minutes to ask him anything you wanted, where would you start? The backdrop, course is that the Fed's main interest
1:45.4	rate has been at about 5.5 percent what economists like to call
1:48.8	restrictive for more than a year now. The labor market is showing some signs of strain and
1:54.8	inflation as we learned yesterday when the consumer price index came in at 2.9%
2:00.2	is the lowest it's been in more than three years. Do you think about your first question?
2:06.0	I am going to throw mine to Raphael Bostick. He's the president of the Federal Reserve
2:09.8	Bank of Atlanta. Dr. Bostick, great to have you back on the program, sir.
2:13.0	Good to be back with you, Kay.
2:15.0	So you get CPI the other day.
2:16.8	You get it a day earlier, right?
2:19.1	I do not.
2:20.1	I get it with everybody else.
	...

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