The Fed Meeting and Consumer Spending Trends
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 20 September 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Discover what will happen at the Fed meeting and how consumers are changing their spending.
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Transcript
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| 0:00.0 | Be wealthy and smart, episode 1248. |
| 0:03.0 | I'm gonna live on Rich Light. |
| 0:06.0 | Rich Light. |
| 0:08.0 | Pull that's light, |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of faith I'm gonna live a good life I'm gonna live the good life |
| 0:21.2 | beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.4 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor. |
| 0:42.0 | Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.0 | On today's show, we're going to talk about the Fed and spending, |
| 0:49.0 | because I'm going to give you my opinion about what the Fed is going to do at the FOMC meeting on Wednesday |
| 0:55.6 | and what that means to consumers and how they're changing their spending. |
| 1:01.1 | Now first I've been talking a lot about how I think the Fed is going to |
| 1:05.2 | pause. I think there's less than a 1% chance that they will actually raise rates |
| 1:09.6 | at the meeting on Wednesday. That doesn't mean that their inflation rate is exactly where they want to see it. It's still over the 2% target that they have set. But things have been moving pretty well in the right direction except for the last two reports. |
| 1:25.5 | Those were a little bit more anomalous, I think mainly due to a blip in energy, and I think that's going to work its way through. |
| 1:33.7 | Remember there's a time lag between when interest rates are hiked and when we actually |
| 1:38.4 | see the slowdown, when we see results. |
| 1:41.0 | And that really hasn't happened yet. It's going to happen I think closer to |
| 1:45.7 | sometime in the fourth quarter toward the end of the year. At that point is going to |
| 1:50.5 | be painfully obvious that inflation has come down quite a bit more than was expected |
... |
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