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The John Batchelor Show

#LondonCalling: The senators have a point about the Fed.. @JosephSternberg @WSJOpinion

The John Batchelor Show

John Batchelor

Books, Society & Culture, News, Arts

4.52.8K Ratings

🗓️ 7 February 2024

⏱️ 16 minutes

🧾️ Download transcript

Summary


#LondonCalling: The senators have a point about the Fed.. @JosephSternberg @WSJOpinion
https://www.wsj.com/articles/democrats-stumble-onto-a-good-point-on-the-fed-political-accountability-1098dcc5

1857 Wall Street

Transcript

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0:00.0

You're

0:02.0

agree you don't fancy each other, but she makes you laugh till it hurts.

0:05.0

She dragged you to hot yoga in the city centre,

0:08.0

and you find yourself feeling really, truly calm

0:10.0

for the first time in ages.

0:12.0

And you meet Isaac, and decide to go to that gig in the

0:15.4

city centre together, where you bond over your shared appreciation of R&B. And bit by bit, the world

0:20.9

starts to feel so full of possibilities and you think what if I hadn't

0:25.7

met Maya on tinder it starts with a swipe download the app now This is CBS.

0:33.0

on the world. I'm John Bachelor. The Federal Reserve on television within these last days.

0:42.0

Chairman Powell appearing on 60 minutes to comment on his

0:45.0

task at hand, which is to achieve price stability, that means 2%, and also maintain

0:52.0

employment so it employment so that unemployment doesn't become

0:56.2

insufferable. I welcome Joseph Sternberg, a member of the editorial board of

1:01.5

the Wall Street Journal writing him at the Federal Reserve,

1:04.0

he is in London, he writes the Political Economics Column, and his column has hotlings and one guides me to a letter from

1:12.0

Sharon Brown, who's the chairman of the Senate Banking

1:14.4

Committee a very powerful position. I never would have known this letter

1:18.2

except for Joe's column and I read from a very unhappy Senator Brown to the Federal Reserve Chairman Powell and the Board

1:28.6

of Governors.

1:29.9

Because monetary policy operates on a lag, keeping interest rates elevated will continue to

1:35.3

apply downward pressure on the labor market and wages and drive up mortgage costs while doing

...

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