The battle for EV batteries in US speeds up
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 November 2023
⏱️ 13 minutes
🧾️ Download transcript
Summary
The Federal Reserve held interest rates steady, and people are now being allowed to cross the border from Gaza into Egypt. Plus, competition for foreign investment in electric vehicles is pitting the US southeast against the automotive heartland of the Midwest.
Mentioned in this podcast:
US Federal Reserve holds interest rates at 22-year high
Egypt allows first evacuee departures from Gaza
Can America’s south-east unseat Detroit as ‘Motown’ of the EV age?
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:04.3 | Today is Thursday, November 2nd, and this is your FT News briefing. |
| 0:09.3 | The US Federal Reserve kept interest rates steady yesterday, and Egypt has allowed a few |
| 0:14.6 | people to leave Gaza. |
| 0:16.3 | The situation in the strip is dire. |
| 0:19.1 | People describe it as hell, very little water, very little food, no electricity, much of |
| 0:26.5 | the time, and the bombings. |
| 0:29.6 | Plus we'll take a look at the fierce competition over electric vehicle and battery plants in |
| 0:34.0 | the United States. |
| 0:35.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:52.2 | The Federal Reserve decided to hold interest rates steady yesterday, the meeting was the |
| 0:56.4 | second in a row where the Fed decided against an increase. |
| 1:00.5 | Given how far we have come, along with the uncertainties and risks we face, the committee |
| 1:05.1 | is proceeding carefully. |
| 1:07.2 | Chair Jay Powell emphasized the need to take a wait and see approach, even though the US |
| 1:11.8 | economy is cruising along. |
| 1:14.7 | The labor market has been rebalancing, but it's still very tight by many measures. |
| 1:19.7 | GDP growth has been strong, although many forecasters are forecasting, and they have been |
| 1:24.3 | forecasting that it will slow. |
| 1:26.8 | All good stats, except for worries about what it all means for stubborn inflation, and |
| 1:32.2 | that's what's keeping Powell up at night. |
| 1:35.0 | Equities moved higher while Powell was speaking, the S&P 500 ended the day up around 1%. |
... |
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