State of the Economy Part One
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 19 June 2021
⏱️ 16 minutes
🧾️ Download transcript
Summary
Believe it or not, we're basically halfway through 2021, which means it's time for a little "State of the Economy" with our favorite numbers cruncher and overall badass, Diane Swonk, chief economist at Grant Thornton.
The Federal Open Market Committee (FOMC) unanimously voted to keep short-term interest rates unchanged and the pace of asset purchases at $120 billion per month. The statement following the June meeting was much more upbeat about the progress of vaccinations and the economy.
The bottom line is that Fed Chairman Jerome Powell tried to reassure the public and financial markets that the Fed will not allow inflation to get out of control. The Fed’s own forecast, or “dot plot” as it is called, showed a substantial move up in the timing of rate hikes. The problem for financial markets is that inflation and rate hikes are always unwelcome.
Have a money question? Email us, ask jill [at] jill on money dot com.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Oh, is that a pumpkin spice latte? |
| 0:03.2 | No, it's the pumpkin spice latte. |
| 0:05.9 | Starbucks? |
| 0:06.9 | Obviously. |
| 0:07.9 | You know, I once got so obsessed with pumpkin spice, I only wore orange for a month. |
| 0:11.3 | Ugh, that's nothing. |
| 0:12.6 | I once got so obsessed I got a pumpkin shaman into my hair. |
| 0:15.0 | Oh yeah? |
| 0:16.0 | Well last year I cured outside Starbucks for a week. |
| 0:18.3 | And my tent was a shape of a pumpkin? |
| 0:19.8 | Well, I'm changing my name to pumpkin spicy. |
| 0:24.9 | The Starbucks original is back. |
| 0:26.7 | Go all out pumpkin spice. |
| 0:28.7 | Subject to availability while stocks last. |
| 0:30.7 | heard about magpie. |
| 0:31.7 | The vegan pie truck that needed a bit of help from gold daddy. |
| 0:34.3 | One day the owners are like, this business hasn't reached this potential. |
| 0:38.0 | And the other one goes, we need a bigger piece of the pie. |
| 0:40.8 | And then it hits her. |
| 0:41.8 | We need gold daddy. |
| 0:42.8 | Look, we can get a domain name and create an online store so we can sell to more customers. |
| 0:47.7 | Now they've gone from serving a couple of pies to a flogging nationwide. |
... |
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