The Fed’s big swing at inflation
Behind the Money
Topher Forhecz
4.4 • 350 Ratings
🗓️ 22 June 2022
⏱️ 21 minutes
🧾️ Download transcript
Summary
The Federal Reserve announced its largest interest rate increase since 1994. And it's the equivalent of the US central bank taking a baseball bat to the economy, according to the FT’s US financial commentator Robert Armstrong.
In this week’s episode, Armstrong is helping us to make sense of the Fed’s announcement. He’ll explain what the recent hike means for the economy and for investors, and tell us whether or not we should be freaking out.
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For further reading:
How fast is the US economy slowing?
Time for strong medicine: How central banks got tough on inflation
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Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Am I missing anything? Is this the right decision? |
| 0:02.0 | Can I show this data? |
| 0:04.0 | Am I too late? |
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| 0:28.0 | AI and take action today. |
| 0:30.1 | The US Federal Reserve is getting more aggressive in its fight against soaring inflation. |
| 0:37.0 | Last week the Federal Reserve decided to raise interest rates by 75 basis points. It's the biggest interest rate increase in the |
| 0:45.9 | U.S. in decades. If I was to sum up the message of the Fed, it's, we're swinging the |
| 0:51.9 | bat. That's Rob Armstrong. |
| 0:54.0 | He's the F.T.'s U.S. financial commentator. |
| 0:58.0 | And you can swing a baseball bat and say, gosh, I hope no one gets hurt. |
| 1:02.0 | But you're swinging a baseball bat |
| 1:03.5 | somebody's gonna get hurt less people are gonna be hired more people are gonna be |
| 1:07.8 | fired there's gonna be less investment there's gonna be less job creation. It's going to be a smaller economy. |
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