Should the Fed open more regional reserve banks?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 December 2024
⏱️ 16 minutes
🧾️ Download transcript
Summary
Nine of the Federal Reserve’s 12 reserve banks are on the Mississippi River or east of it. One former Fed official says it’s caused the central bank to disproportionately reflect the interests of the eastern United States. We’ll get into it. And, we’ll unpack how some businesses are pushing consumers to shop now in anticipation of potential tariffs under the incoming Donald Trump administration. Plus, we’ll smile about one runner’s 700-mile quest to create art on the GPS-tracking app Strava.
Here’s everything we talked about today:
- “The Fed tilts toward the eastern U.S. It’s time to change that.” [gift link] from The Washington Post
- “Now is the time to prepare for tariffs” from The Hill
- “Tariffs and you: What products will cost more, when prices will rise, and what to buy now” from USA Today
- “Buy Now Before Tariffs Hit, Retailers Are Telling Shoppers” from The Wall Street Journal
- “Man ran 700 miles to make ‘insanely impressive’ art on GPS fitness app” [gift link] from The Washington Post
- “Why not enlist an army of volunteer retirees?” from The Washington Post
- “Do Your Passwords Meet the Proposed New Federal Guidelines?” from The Wall Street Journal
We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Transcript
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| 0:00.0 | Roxanne. |
| 0:02.0 | You don't have to put on the red line. |
| 0:06.0 | Those days are over. |
| 0:09.0 | Okay, fine. |
| 0:12.0 | Let's get this show on the road. |
| 0:16.0 | Hey everybody, I'm Kyle. I'm Rousdell. |
| 0:19.0 | Welcome back to Make Me Smart, where we make today and every day. Makes sense. |
| 0:24.7 | When we can. I'm Kimberly Adams. Thank you, everyone, for joining us. We are in December. We are almost to the end of 2020. |
| 0:31.6 | It's crazy. Isn't it? I know. |
| 0:33.6 | I know. |
| 0:34.6 | You're like, Jesus. It's Monday, December 2nd. Yesterday I had to write the date on something and I literally did a double take because I was like, Jesus. It's Monday, December 2nd. |
| 0:42.5 | Yesterday I had to write the date on something, and I literally did a double take because I was like, wait, December? |
| 0:43.0 | Totally. |
| 0:47.7 | Anyway, no matter what month it is, we all on Mondays, do the same thing. |
| 0:50.4 | It's news and smiles and then San John and Mary Way. |
| 0:51.6 | Kimberly Adams, News. |
| 0:52.1 | What do you got? |
| 1:11.6 | Three articles all about the same thing, which are these potentially looming Trump tariffs. Obviously, lots of people were shopping this weekend. And one of the things that was on some shoppers' minds and certainly on the minds of many retailers were the potential for tariffs that President-elect Trump has said he's going to implement on goods coming out of China, goods coming |
| 1:15.9 | out of our allies, Canada and Mexico. And so there's been all sorts of analyses and |
| 1:22.5 | estimates and comments and earnings calls about what this would do to consumer prices, mostly raise them. |
| 1:30.2 | And we've already seen some companies making moves to adjust their supply chains, to try to, you know, |
| 1:37.6 | tariff proof themselves or build in more resiliency. We've seen some companies choosing to stock up |
... |
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