The ousting of Kevin McCarthy is bad news for Ukraine
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 5 October 2023
⏱️ 8 minutes
🧾️ Download transcript
Summary
It’s been a mess in Congress this week. Kevin McCarthy is out as house speaker, while another government shutdown looms in the shadows. We unpack the economic impact that all this turmoil in Washington could have, including its potential affects on funding for Ukraine’s war efforts. But first: How are CEOs feeling right now? Plus, President Joe Biden cancels $9 billion in student loan debt.
Transcript
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| 0:25.8 | to Marketplace.org slash donate. |
| 0:30.4 | CEOs are still a bit wary. |
| 0:33.4 | From Marketplace, I'm Nancy Marshall Genser in for David Brancaccio, nearly 85% of CEOs |
| 0:39.7 | are feeling confident about the long-term growth prospects for the U.S. economy. |
| 0:44.1 | That's according to KPMG's latest CEO Outlook survey out this morning. |
| 0:49.0 | Most are also confident about their own company's prospects over the next few years, though |
| 0:53.6 | notably less so than last year Marketplace's Samantha Fields reports. |
| 0:59.6 | Last year, 95% of CEOs said they were confident about their own company's growth prospects. |
| 1:05.0 | This year, just 79% are. |
| 1:07.5 | Still high, but a big drop. |
| 1:09.7 | I think it's because we have more clarity now about the duration of certain structural |
| 1:16.0 | changes in the economy. |
| 1:17.5 | Paul Knopp is chair and CEO of KPMG. |
| 1:20.9 | For instance, higher rates for longer is certainly something you're hearing a lot. |
| 1:26.1 | The stickiness or stubbornness of inflation with higher food costs, higher energy costs, |
| 1:30.9 | and certainly likely higher labor costs going into the future. |
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