Let’s decode Fed speak

Make Me Smart

Marketplace

Business, News

4.6 • 5.5K Ratings

🗓️ 22 August 2024

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We read the minutes from the Federal Reserve’s last meeting so you don’t have to! Kai Ryssdal explains why an interest rate cut in September is looking more and more likely. Plus, how the Ozempic boom is changing the cost of workplace insurance plans. And, Chicago’s hottest dance club is at the … Democratic National Convention?!

Here’s everything we talked about today:

- “Minutes of the Federal Open Market Committee” from the Federal Reserve

- “Workplace insurance could soon be stripped down” from Axios

- “The FTC’s noncompete agreements ban is blocked” from The Verge

- “The DNC roll call featured a musical salute to each state. Here’s what your state chose” from NPR

- “‘Crowd’ size 📏 “ from Politico

Kimberly Adams is headed to Denver on Sept. 23 for a live Marketplace event all about the economics of being single! You can find details about it here.

Transcript

Click on a timestamp to play from that location

0:00.0	All right, who's on the other side of glass?
0:02.0	Jess and Dooler.
0:10.0	Hello, everyone, I'm Kimberly Adams.
0:12.0	Welcome back to Make Me Smart, where we make today make sense.
0:14.6	I'm Kyle Rizdahl.
0:15.6	We will do what we do on a Wednesday and most days of this week.
0:18.3	Do a news, do some smiles and then send you all on your Mary Way.
0:23.0	Ways, I suppose.
0:25.0	Yes, ways.
0:26.0	What is, let's start with the news, what is yours?
0:28.0	Okay, mine is a little geeky, but it is a public service that we offer here at Marketplace. We read the Fed minutes
0:34.0	so you don't have to. These are the minutes of its most recent meeting, July 3031 of
0:38.5	this year. And I direct you to the following sentence which unless Jay Powell I don't know has some
0:48.0	unbelievable change of heart come Friday in his big speech at Jackson Hall at the
0:51.3	Kansas City Fed's symposium.
0:54.1	There will be a rate cut come September.
0:56.0	Here's what the minutes of the most recent meeting said.
0:58.7	The relevant sentence, quote, the vast majority of participants observed that if the data continued to come in about as expected,
1:07.1	it would likely be appropriate to ease policy at the next meeting, end of quote.
1:12.4	I love the qualifiers in there about as expected it would
1:15.4	likely be appropriate I'm like take a freaking stand will you people anyway
1:19.7	that is Fed speak for things are really good and counting on September looking really
	...

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