Powell’s points presentation: the Fed raises rates
The Intelligence from The Economist
The Economist
4.5 • 3.7K Ratings
🗓️ 5 May 2022
⏱️ 25 minutes
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| 0:00.0 | Hello, I'm Jamie and I am Alex and we host a podcast together called Private Parts |
| 0:05.9 | Which is currently being sponsored by St. Spreys who are teaming up with comic relief this Christmas to help tackle food poverty |
| 0:13.2 | That's right and by donating you can help too |
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| 0:25.9 | Norris the nation with St. Spreys this Christmas by rounding up your bill or gifting key food items donate in store or online for full terms and charity details |
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| 0:40.3 | Happy Christmas |
| 0:48.8 | Hello and welcome to the intelligence from the economist in New York. I'm your host John Fassman |
| 0:56.0 | Every weekday we provide a fresh perspective on the events shaping your world |
| 1:02.6 | China has tried to control COVID spread through lockdowns and quarantines rather than mass vaccination |
| 1:07.8 | That approach has confined many of Shanghai's 25 million residents to their apartments for more than a month and they've become increasingly |
| 1:15.2 | Restive and vocal |
| 1:18.9 | And few politicians are remembered with as much affection and respect as Nelson Mandela South Africa's first democratically elected leader |
| 1:26.8 | But who do his name and legacy belong to and should they be used to make money? |
| 1:40.6 | First up though |
| 1:48.0 | The United States Central Bank the Federal Reserve has faced widespread criticism for letting inflation get out of control |
| 1:54.5 | In America consumer prices rose by 8.5% in March compared with a year earlier a four-decade high |
| 2:03.0 | The chairman of the Fed Jerome Powell had said the bank was committed to bringing the inflation rate back down to a target of 2% |
| 2:11.0 | Yesterday we saw the strength of that commitment |
| 2:14.5 | So the Fed announced that it's increasing interest rates by half percentage point |
| 2:19.1 | It's the first time that has done a rate increase of this size since the year 2000 Simon Rebinevich is our U.S. economic |
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