Kamalanomics goes on defence
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 August 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The US dollar sinks to its lowest level since the start of the year and Democrats are rushing to defend vice-president Kamala Harris’s economic road map. Plus, rising US-China tensions could threaten a decades-old science and technology pact.
Mentioned in this podcast:
Dollar hits 8-month low as US stocks start week higher
Democrats on defensive after Kamala Harris’s economic plans poorly received
China-US tensions erode co-operation on science and tech
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Marc Filippino, and Niamh Rowe. Additional help from Breen Turner, 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 equinore. UK. Good morning from the Financial Times. Today is Tuesday August 20th and this is |
| 0:18.3 | your FT news briefing. The greenback is feeling blue and Vice President Kamala Harris is facing |
| 0:26.3 | criticism over her economic plan. Plus US China tensions are threatening a |
| 0:32.1 | long-standing science and technology collaboration. |
| 0:36.1 | I'm Sonia Hudson and here's the news you need to start your day. The U.S. dollar has sunk to its lowest level since the start of the year. |
| 0:58.0 | That's because investors are betting the Federal Reserve will cut interest rates next month. |
| 1:03.8 | A more stable stock market these days is also pushing the dollar down. |
| 1:08.1 | After a wild ride at the beginning of the month, the S&P 500 has recovered all of its losses, so investors are feeling |
| 1:16.1 | a bit better about piling into equities again. |
| 1:19.4 | They'll get their first clues as to whether the bet will pan out on Friday. |
| 1:23.7 | Fed Chair Jay Powell is scheduled to speak at the Jackson Hole Symposium, |
| 1:27.9 | and he'll probably give some hints about future rate cuts there. Democrats have been fighting to defend Vice President Kamala Harris's recently announced economic plans. |
| 1:45.5 | And it's not just attacks from Republicans. |
| 1:48.3 | Economists have also been criticizing the presidential nominees ideas. The economy is a |
| 1:54.3 | weak spot for the party so this could have big consequences in November's election. |
| 1:58.7 | I'm joined now by the F.T.'s Lauren Feeder to unpack this. She is in Chicago for the Democratic National |
| 2:04.7 | Convention this week. Hi Lauren, how's the Windy City? |
| 2:07.6 | I only just got here, but so far, so good. Check him with me at the end of the week, though. |
| 2:12.4 | Things usually change by the... Good. Check him with me at the end of the week though. |
| 2:13.7 | Things usually change by the end. |
... |
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