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WSJ Opinion: Potomac Watch

The Economy Booms in the Third Quarter and Ford Pays Dearly for Labor Peace

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.22.8K Ratings

🗓️ 26 October 2023

⏱️ 21 minutes

🧾️ Download transcript

Summary

The U.S. economy grew a robust 4.9% in the third quarter, but how long can this keep going amid higher interest rates? Plus, the United Auto Workers union makes a deal with Ford to go back to work, putting pressure on other auto manufacturers to come to an agreement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Get a better grip on the markets.

0:02.7

WSJ's Take on the Week is here to give you a look ahead to the most important events

0:07.8

on the economic and business calendar and what they mean for your money and investments.

0:13.1

Subscribe wherever you listen to podcasts.

0:20.1

From the opinion pages of the Wall Street Journal, this is Potomac Watch.

0:26.0

The remarkable U.S. economy keeps rolling along with a blowout.

0:29.5

Third quarter in which growth, domestic product grew 4.9 percent in the price level fell

0:35.5

as well over the third quarter.

0:37.4

How do you explain this?

0:39.0

Amid rising interest rates and slower growth around most of the world.

0:43.2

And is it a sugar high that won't last?

0:46.0

Plus the United Auto Workers strike a deal to end their walk out against Ford.

0:50.4

The union is claiming a big victory with wage increases and an end to the tiered pay system

0:55.2

for new workers that had accepted in 2008.

0:58.0

The union is still on strike against the Lantis, which is the former Chrysler and General

1:02.8

Motors, but did the strike strategy work for the UAW?

1:07.3

Welcome.

1:08.3

I'm Paul Gigo at a Toro page editor to the Wall Street Journal and I'm here with my colleagues

1:12.1

Alicia Finley and Joe Sternberg.

1:15.1

Let's get to the growth third quarter report first.

1:18.2

The economy has defied predictions of recession all year and in third quarter, it's fair

1:23.6

to say at 4.9 percent, it's booming.

...

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