New York Fed President says interest rates probably high enough
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 10 January 2024
⏱️ 1 minutes
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Summary
Stocks rise; interest rates will likely have to stay high for “some time”; Amazon announces layoffs in streaming and studios division; wholesalers inventories fall.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Wednesday. The Dow gained more than 4 tenths percent, the S&P rose almost 6 tenth percent, and the NASDAQ added 3 quarters percent. The president of the New York |
| 0:16.0 | Federal Reserve, John Williams, says interest rates are probably high enough to bring inflation |
| 0:21.1 | back down to the Fed's 2% target, but William says |
| 0:24.2 | interest rates will likely have to stay high for some time to ensure that inflation |
| 0:28.4 | continues to come down. Amazon says it's laying off several hundred employees in its streaming and studios division. |
| 0:36.0 | The company says it's trying to stop investing in certain areas, while focusing more on others |
| 0:40.4 | that, quote, deliver the most impact. Wholesaleers inventories dip slightly between |
| 0:45.8 | October and November down two-tenths percent according to the Commerce Department. Wholesale |
| 0:50.4 | inventories fell to roughly where they were before the pandemic. |
| 0:54.4 | I'm Justin Ho, with the Marketplace Mement Act. You're going to. |
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