Money Talks: How to save the world economy?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 3 March 2020
⏱️ 20 minutes
🧾️ Download transcript
Summary
The Federal Reserve has cut interest rates in the face of increasing concern about the economic impact of the new coronavirus. It follows warnings from forecasters that the outbreak could tip some countries into recession. What more needs to be done to prevent a full-scale downturn? The Economist’s Europe economics correspondent Rachana Shanbhogue asks Patrick Foulis, business affairs editor; Alice Fulwood, American finance correspondent; and Henry Tricks, Schumpeter columnist
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Transcript
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| 0:00.0 | They're not authors, but they help you shape your financial story. |
| 0:04.0 | They're not an airline, but they connect global businesses across nearly 160 local markets. |
| 0:10.0 | They're not interpreters that they listen to and understand their client's needs. |
| 0:14.8 | With global expertise and over two centuries of experience, Citi provides tools, insights and |
| 0:20.8 | guidance that helps clients thrive. |
| 0:23.0 | They're not just any bank, they are city. |
| 0:26.0 | Learn more at city.com slash we are city. The coronavirus continues to spread around the world. |
| 0:37.0 | Last week fears mounted that the virus could trigger a more serious rupture in the financial markets. |
| 0:46.0 | The S&P 500 suffered an 11% drop over five days, its worst weekly fall since October 2008, but now the Federal Reserve has cut interest rates by 50 basis points. |
| 0:56.7 | Will this be enough to steady the course? |
| 0:59.1 | Hello, this is Money Talks on Economist Radio, our weekly podcast on the world of business. |
| 1:04.4 | I'm Ratch Neshanbogue, the Europe Economics Correspondent. |
| 1:07.6 | As the world climbs the epidemic curve, the number of cases of the new coronavirus |
| 1:17.8 | continue to rise outside of China. |
| 1:20.7 | More than 3,000 people have died from the illness, and there have been quarantines and factory closures. |
| 1:26.0 | As the virus spreads outside of China, investors worldwide are jittery. |
| 1:30.0 | Companies are also starting to think about measures that can help keep their business afloat in the event of workers taking sick days or having to work from home. |
| 1:39.0 | What does all this mean for markets and for the global economy? |
| 1:42.0 | In the studio is Patrick Fowles, the |
| 1:45.0 | Economist Business Affairs editor. Welcome Patrick. |
| 1:47.7 | Hi. Henry Tricks are Schumpeter Colonist. Hi Henry. |
| 1:51.2 | Hi, and in New York is Alice Forward, our Wall Street |
... |
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