The Intelligence: Fed reckoning
The Intelligence from The Economist
The Economist
4.5 • 3.7K Ratings
🗓️ 21 March 2024
⏱️ 22 minutes
🧾️ Download transcript
Summary
America’s central bank left rates untouched, to widespread market delight. Why is this economic cycle confounding expectations so much, and how to bring it to a gentle end? We look at the modern fortunes of Vodafone, a once-mighty telecoms firm that is slimming down to get healthier (11:21). And why Britain’s system for protecting its historic buildings from change…needs to change (16:10).
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Transcript
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| 0:30.0 | The Economist. |
| 0:37.0 | Hello and welcome to the Intelligence from The Economist. |
| 0:41.0 | Hello and welcome to the Intelligence from The Economist. I'm your host |
| 0:44.2 | Jason Palmer. Every weekday we provide a fresh perspective on the events |
| 0:48.7 | shaping your world. From modest beginnings in military radios, the British firm Vodafone became an enormous |
| 1:00.4 | global telecommunications brand, hoovering up other businesses left and right. |
| 1:05.0 | Now it's having to sell them off in order to get itself back to its former health. |
| 1:10.0 | And Britain has an enviable record in keeping its cherished old architecture from being |
| 1:16.6 | modernized or knocked down, thanks to a process called listing buildings. |
| 1:21.0 | A certain irony then that that system is a tangled bureaucracy that needs updating. |
| 1:32.1 | First up though, though. |
| 1:33.0 | The Dow Jones Stock Market Index, the S&P 500, the NASDAQ, they all hit record highs yesterday. |
| 1:47.0 | Why? Just a few words from this man. |
| 1:50.0 | Inflation has eased substantially while the labor market has remained strong and that is very good news |
| 1:56.7 | But inflation is still too high |
| 1:58.9 | Jerome Powell chair of America's Federal Reserve announced at the Central Bank's quarterly meeting that he would not cut interest rates. |
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