The Fed Finally Cuts Rates, but Will It Even Matter? w/NYT’s Jeanna Smialek
On The Market
BiggerPockets
4.8 • 858 Ratings
🗓️ 26 September 2024
⏱️ 37 minutes
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| 0:00.0 | The Fed finally did it. Last week, the Federal Reserve went big, and they cut the baseline |
| 0:07.0 | interest rates, the federal funds rate, by half a percentage point. And most analysts expected |
| 0:12.9 | a rate cut. The Fed basically said that they were going to do that. And if you listen to this |
| 0:16.9 | show, you've probably heard us talking about this anxiously and eagerly for a couple of weeks |
| 0:22.3 | now. But last week's rate cut and the Fed meeting was full of new information and left me with a lot of |
| 0:30.3 | new questions. To help me answer those questions, I'm bringing on a professional Fed researcher and |
| 0:36.9 | reporter than New York Times, Gina Smilich, |
| 0:39.9 | to help us answer all the many questions I am sure we all have about where the Fed's going |
| 0:45.6 | and what's going to happen with interest rates. |
| 0:52.7 | Hey, everyone, welcome to On the Market. I'm Dave Meyer. And my guest today, Gina Smilich covers the Federal Reserve and the economy at the New York Times. She's been doing this for more than 11 years, so she really, really understands what's going on with the Federal Reserve. And today, she and I are going to get into |
| 1:11.6 | questions like, what does the rate cut tell us about how the Fed feels about the U.S. |
| 1:16.8 | economy and where they're trying to steer it? Are we finally out of the woods on inflation? |
| 1:22.6 | How long will these rate cuts take to hit the economy? And will average Americans actually feel these |
| 1:28.7 | rates in terms of the broader economy, the job market, or just in their wallets? Plus, |
| 1:34.8 | we're going to talk about a lot more. So let's bring on Gina. Gina, welcome to the podcast. Thanks for being here. Yeah, thanks for having me. Well, I to the podcast. |
| 1:44.9 | Thanks for being here. |
| 1:46.0 | Yeah, thanks for having me. |
| 1:47.2 | Well, I'm super excited to have this conversation, at least for people in our industry. |
| 1:51.8 | And who listened to this podcast, we have been talking about the Fed and potential rate cuts for so long. |
| 1:57.9 | And they've finally done it just as a recap at the most recent Fed meeting, |
| 2:03.0 | September 17th and 18th. The FOMC, the board of people who make these decisions, decided to |
| 2:08.8 | cut the baseline interest rate by half a percentage point. So let's just lay some groundwork here, |
... |
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