Money News: Why The Fed Paused Interest Rates, The CFPB, and “Dumb Money”

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 27 September 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Learn why the Fed paused interest rates. Plus: the Supreme Court's CFPB hearing, NFT prices, and a new GameStop movie. Join hosts Sean Pyles and Anna Helhoski as they break down the latest headlines in the world of personal finance. They explain the Supreme Court's upcoming hearing on the constitutionality of the Consumer Financial Protection Bureau's funding structure, the risks of investing in "dumb money" like the Powerball lottery and NFTs, and the new movie "Dumb Money," which tells the story of the GameStop stock-buying phenomenon. They then have an in-depth discussion about the impact of the Federal Reserve's interest rate decisions on the financial lives of Americans. They explain how interest rates work and how they can impact the economy and individual financial lives. They also offer some tips for Americans who are concerned about the impact of rising interest rates. In their conversation, the Nerds discuss: the Supreme Court, the Consumer Financial Protection Bureau (CFPB), the lottery, NFTs, Dumb Money, GameStop, meme stocks, the Federal Reserve, interest rates, the US economy, credit card interest, inflation, and personal finance news. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Prime Video brings thrilling entertainment.
0:03.0	Watch Heavyweight Detective Breacher, Season 3 included with Prime.
0:07.0	Exactly how much danger is this job putting me in.
0:10.0	Treat yourself to the lovably chaotic Bridget Jones mad about the boy available to buy.
0:15.0	Did you have sex? Did you have sex?
0:17.0	Did you have sex last night?
0:19.0	Yes! And it was amazing!
0:23.0	Whatever you're into, it's right here.
0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:33.1	Welcome to NerdWallets Smart Money Podcast.
0:36.0	I'm Sean Piles.
0:37.0	And I'm Anna Hilhouski. And this is our weekly
0:39.4	personal finance news roundup, where we take a look at recent developments in the world of money
0:43.6	and then go in depth on an issue that's important to your life and your bottom line.
0:47.7	If you have a mortgage or a credit card or a car loan, or basically if you're a participant in the American economy,
0:55.7	the Federal Reserve has an impact on your financial life. Yeah, the Fed has a range of functions,
1:01.0	but it's best known for setting interest rates, which affect your ability to borrow money.
1:05.3	Generally, the Fed sets interest rates higher when it wants to combat inflation and lowers
1:09.6	rates to simulate the economy. Last week, the Fed met to decide whether to raise interest rates higher when it wants to combat inflation and lowers rates to simulate the economy.
1:11.7	Last week, the Fed met to decide whether to raise interest rates or keep them the same.
1:16.2	We're going to take a look at what they did and what it bodes for the future of interest rates.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NerdWallet Personal Finance, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NerdWallet Personal Finance and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.