Other ways the Fed wields its influence
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 31 July 2024
⏱️ 28 minutes
🧾️ Download transcript
Summary
The Federal Reserve kept its key interest rate as is today, but rate adjustments aren’t the only monetary policy tool at the Fed’s disposal — don’t forget quantitative tightening and easing. In this episode, we explain why buying and selling government debt can help to balance out the economy. Plus, companies look for smaller but swankier offices, New Jersey has 70,000 units of affordable housing thanks to a decades-long legal saga and the oil industry tries to guess when oil demand will peak.
Transcript
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| 0:59.0 | The big economic news today was no news, but an interest rate cut is looking more likely in September. |
| 1:08.0 | From American public media, this is marketplace. In Baltimore, I'm Amy Scott, in for Kyra's doll. |
| 1:15.0 | In Baltimore, I'm Amy Scott, in for Kyra's doll. In today was as expected no change on interest rates that leaves the target range for the |
| 1:36.0 | federal funds rate at 5.5% to 5.5%. But Fed Watchers notice some small but significant changes in the accompanying statement. |
| 1:46.2 | Compared to the statement from the June meeting, job gains have moderated instead of remained strong, inflation remains somewhat elevated |
| 1:55.9 | as opposed to just elevated, and risks to achieving the Fed's employment and |
| 2:01.0 | inflation goals continue to move into better balance rather than have moved into better balance. |
| 2:07.0 | Again, small changes that will launch a thousand articles, but they're ones that set the table for a rate cut soon and at the same time leave the options open. |
| 2:18.8 | Talking to reporters after the announcement, Chair Jay Powell said, we're getting closer, but we're not there yet. |
| 2:26.4 | The question will be whether the totality of the data, |
| 2:29.8 | the evolving outlook in the balance of risks are consistent with rising |
| 2:33.9 | confidence on inflation and maintaining a solid labor market. If that test is |
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