The Economy Is Booming. Or Is It?

The Daily

The New York Times

Daily News, News

4.3 • 107.7K Ratings

🗓️ 1 August 2019

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

The United States economy is in the middle of a record-long expansion. So why is the government deploying an economic weapon it last used during the 2008 financial crisis? Guest: Ben Casselman, who covers the economy for The New York Times. For more information on today’s episode, visit nytimes.com/thedaily. Background reading: The Federal Reserve cut its benchmark interest rate for the first time in more than a decade as it tried to insulate the economy from President Trump’s trade war and a global slowdown.The quarter-point reduction is unlikely to get you a better mortgage rate. Here’s where you might see effects.

Transcript

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0:19.0	variety of expertise.
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0:25.6	From the New York Times, I'm Michael Bavaro.
0:32.6	This is Daily.
0:40.6	Today, the US economy is in the middle of a historic boom.
0:46.8	So why is the government now deploying an economic weapon?
0:50.7	It last used during the financial crisis.
0:55.0	Plus, last night's Democratic debate.
1:02.0	It's Thursday, August 1st.
1:09.0	Hey, is CSPAN where it's at for Federal Reserve announcements?
1:15.0	I mean, it'll be on every channel, man.
1:19.0	On Wednesday afternoon, economics reporter Ben Castleman, stopped by the studio.
1:24.0	The CSPAN don't have the whole thing.
1:27.0	I checked online.
1:28.0	We'll keep it on CSPAN.
1:29.0	So Ben, give us a little bit of context that we're waiting for.
1:31.6	So the Fed announced 28 minutes ago that it is cutting interest rates for the first time
	...

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