The Fed’s Big Shrink
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 January 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/afd4c412-780b-407a-8b5a-10175cf319fc
A US judge says that the Federal Trade Commission can go ahead with a revised case seeking to break up Facebook, and the latest US inflation report is expected to show prices rose at their fastest pace in nearly 40 years. Plus, the FT’s US markets editor, Eric Platt, explains how the Federal Reserve is expected to wind down its $9tn balance sheet after a pandemic largesse.
Mentioned in this podcast:
Facebook loses bid to dismiss FTC antitrust case a second time
US inflation expected to rise at fastest pace in nearly 40 years
Federal Reserve prepares to shrink $9tn balance sheet after pandemic largesse
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.7 | Good morning from the Financial Tunt. |
| 0:11.4 | Today is Wednesday, January 12th, and this is your FT News Briefing. |
| 0:18.5 | US regulators now have a green light to try and break up Facebook, |
| 0:22.2 | the latest US inflation numbers are out today. |
| 0:25.0 | Plus, the Federal Reserve has a nearly $9 trillion dollar balance sheet |
| 0:28.9 | from the giant bond buying strategy used to prop up the economy during the pandemic. |
| 0:34.1 | This isn't like trying to skip rocks on a lake where like this is |
| 0:37.5 | they have thrown boulders into this lake to get the water level up. |
| 0:41.0 | We'll take a look at how the US Central Bank will remove this stimulus program |
| 0:44.6 | without churning the economic waters. |
| 0:47.1 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:51.0 | A US federal judge yesterday allowed an anti-trust case against Facebook to proceed. |
| 1:01.2 | US regulators have been attempting to sue the social media site. |
| 1:04.8 | The same judge dismissed the government's lawsuit last year. |
| 1:07.8 | It said the Federal Trade Commission didn't have enough facts to show that Facebook, |
| 1:11.8 | now called meta, has monopoly power. |
| 1:14.4 | The FTC has provided more evidence to make its argument that meta has a |
| 1:18.6 | stranglehold on the social network market because it owns WhatsApp and Instagram. |
| 1:23.4 | It wants to force meta to unwind the acquisitions of those two apps. |
| 1:27.3 | Meta has until January 25th to respond. |
... |
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