The other major economic newsmaker of the week
Marketplace Morning Report
Marketplace
4.5 • 928 Ratings
🗓️ 4 November 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Yes, tomorrow is Election Day, the outcomes of which have the potential to move markets. But don’t forget: We have a Federal Reserve meeting this week too. On Thursday, the central bank will announce a decision on interest rates. We’ll preview what to expect. Then, is it just us or are Black Friday deals starting earlier this year? And we’ll also head to rural Wyoming to hear about the tangible impact of news consolidation.
Transcript
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| 0:00.0 | How to Run a Local Democracy when Local Coverage is stretched thin. I'm David Brancaccio. First, the biggest event for the U.S. economy this week, yes, the outcome of tomorrow. But arguably the second most economically consequential calendar item of the week, the Federal Reserve meets on jobs, growth, and inflation with a decision on lowering |
| 0:21.8 | interest rates on Thursday. Marketplaces Nancy Marshall-Genser is following the Fed for us. |
| 0:27.4 | The Fed's interest rate meetings usually start on a Tuesday with a Wednesday press conference, |
| 0:32.3 | but this week's meeting was pushed back a day to avoid the election. At the Fed's press conference |
| 0:37.1 | this Thursday, |
| 0:38.5 | Chair Jerome Powell is expected to announce a quarter percentage point interest rate cut. |
| 0:43.4 | The central bank is trying to get rates back down to more normal levels after pushing them |
| 0:48.0 | up over the past couple of years to cool the economy and tamp down inflation. |
| 0:52.3 | The Fed's favorite measure of inflation, the personal |
| 0:55.3 | consumption expenditures price index, is still above its 2% target, but not by much, and inflation has |
| 1:02.8 | slowed. That gives the Fed room to continue cutting rates. I'm Nancy Marshall Ginsburg for Marketplace. |
| 1:10.2 | S&P futures are up 2 tenths of a percent. Dow and NASDAQ futures are up a tenth of a percent. |
| 1:15.0 | The S&P is up nearly 21 percent year to date. The NASDAQ up 24 percent. |
| 1:21.1 | Halloween season, now election season. |
| 1:23.7 | It somehow seems out of sync with this November the 4th to talk about year-end holiday |
| 1:27.8 | shopping, but a consumer survey by bank rate found that about half of respondents started |
| 1:33.4 | holiday shopping before November even rolled in, and some of that has to do not with the |
| 1:38.2 | holiday spirit, but with business inventory management. Marketplaces Kaylee Wells has that. |
| 1:44.1 | There's the short-term answer and the |
| 1:45.9 | long-term answer. Short-term, Thanksgiving is late this year, so the traditional holiday season is |
| 1:51.1 | shorter. Analyst Sky Canavis with e-marketer also says this year companies bought holiday inventory |
| 1:56.7 | early as part of their planning for the potential port strikes, and once retailers have |
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