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Money Talks from The Economist

Money Talks: The fight over the Fed

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 25 August 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

The Federal Reserve under Jerome Powell has taken an extraordinarily bold gamble. But will the central bank chairman still be in office to see if it pays off? Plus why construction firms cannot build fast enough to keep up with the rich world’s housing boom. And the race for territory as, one by one, American states legalise betting on sports.


Rachana Shanbhogue hosts. Featuring Peter Jackson, CEO of Flutter Entertainment.


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Transcript

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0:00.0

The Federal Reserve under Jerome Powell has taken an extraordinarily bold gamble.

0:09.6

Its response to the pandemic has dwarfed anything attempted out of the global financial crisis.

0:14.6

To his supporters, Mr Powell saved America from an economic catastrophe.

0:19.1

To his critics, he's steering it into danger.

0:23.4

But will the Central Bank Chairman still be an office to see if his bets pay off?

0:29.5

Who are listening to money talks from the Economist are weekly podcasts on the markets,

0:33.4

the economy and the world of business.

0:35.4

I'm Rachna Shahnbogue, and also on today's show.

0:39.2

Across the rich world, there's more demand than ever for new homes.

0:42.9

The problem is there aren't enough people to build them.

0:45.9

Around 300,000 jobs in America are vacant.

0:49.8

Half of French construction firms and the fifth of German firms are struggling to find workers.

0:55.0

Britain has reported the highest level of vacancies in two decades.

0:59.5

And we go inside the race for America's high rollers as one by one states begin to allow betting on sports.

1:06.0

There is a massive land grab going on.

1:08.2

Americans love sport and so the fact that this is now become legal means there's a huge opportunity.

1:25.8

First, Central Bankers and Economists meet this week for their annual Jackson Hole jamboree.

1:32.7

It's online again, disappointing those who had hoped to enjoy inspiring views of Wyoming's

1:37.3

Teton Mountains.

1:39.2

But whether on screen or in person, all eyes will be on Jerome Powell, Chairman of the Federal Reserve.

1:44.8

Good afternoon.

1:45.7

Mr. Powell might not be the most thrilling of speakers.

...

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