Powell holds off on rate cuts

Marketplace All-in-One

Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 12 June 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Well, the Federal Reserve decided to stand pat on interest rates for now — and said it may make just one cut this year. In this episode, we break down the Fed’s latest move and look at which sectors are feeling the “lag effect” of rate hikes. Plus: Daycares are likely to raise prices as federal pandemic funding runs dry, and Fannie Mae’s chief climate officer says we should prepare for climate risk to become a bigger factor in the housing market.

Transcript

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0:59.0	Inflation cooled last month, so when might we get a break on interest rates?
1:07.0	Plus a conversation with the Chief Climate Officer of Fannie Mae, from American Public Media, this is Marketplace.
1:15.0	In In Baltimore, I'm Amy Scott and for Kai Risdahl.
1:28.0	It's Wednesday, June 12th.
1:29.6	Good to have you with us.
1:31.2	At 830 this morning, Eastern Time, the Bureau of Labor Statistics came out with its
1:35.9	latest Consumer Price Index showing that inflation slowed in May for the second month.
1:41.8	Core prices, minus food and energy rose by just two-tenths
1:45.7	percent from April, the smallest monthly increase since October, compared to a year earlier,
1:51.6	core prices were up 3.4%, the mildest annual increase in three years,
1:58.0	but not mild enough for the Fed to feel comfortable cutting rates yet. Just six hours later, Chair Jerome Powell
2:05.6	was at the podium, announcing no change to the Fed's target interest rate.
	...

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