Taking Shape: The Fed’s Plan to Stabilize the Economy

Skimm This

theSkimm

News

4.5 • 3.6K Ratings

🗓️ 16 March 2020

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve dusted off its Great Recession playbook on Sunday to find ways to boost the US economy. It cut interest rates to close to zero percent and will buy up $700 billion in financial assets to help get the economy through the COVID-19 pandemic. We’ll break down what these new steps could mean for you and how markets reacted. Meanwhile, social distancing is the new going out. We’ll explain why you should get on board. Also on today’s show: a big commitment at last night’s CNN debate, and a forgery of biblical proportions. We’d love to hear your tips for helping your community during the COVID-19 outbreak. Call and leave us a voicemail at: 646-461-6370. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Monday, March 16th.
0:03.0	Welcome to Schim this.
0:04.5	We're breaking down the most complex stories of the day and giving you the context on
0:08.1	why they matter.
0:09.5	Today, the market's had a bad case of the Mondays, but the US government says, it's got
0:14.0	a plan.
0:15.0	We'll break down with that means for your wallet.
0:17.1	Then social distancing is the new going out.
0:20.0	What should you get on board?
0:21.4	We'll explain.
0:22.4	And finally, catch me if you can, meets night at the museum.
0:25.5	We're here to make your evening smarter.
0:27.5	Let's Schim this.
0:30.5	Today, financial markets around the world had another bad case of the Mondays.
0:34.4	This has been happening a lot lately.
0:36.2	As COVID-19, the disease caused by coronavirus continues to cause major damage to the global
0:41.4	economy.
0:42.4	Here are just some of the ways this serious health emergency is causing some serious financial
0:47.0	hurt too.
0:48.5	Travel restrictions and factory shutdowns are messing up global supply chains.
0:52.6	Oil demand is falling with a lot fewer people traveling.
0:55.9	Both entire countries practically on lockdown consumers are spending less.
	...

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