The politics of Fed independence
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 9 August 2024
⏱️ 26 minutes
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Summary
A lot of folks like to weigh in on what the Federal Reserve should do with interest rates; Donald Trump said this week that if he were to reoccupy the White House, he should have a say in setting monetary policy. But keeping the Fed free of political pressure is important for several reasons. We’ll get into them. Also: Oklahoma tribal nations fill a gap in federal food aid for kids, Oregon ranchers deal with major wildfire losses, and theme park attendance dips.
Transcript
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| 0:38.6 | Hey stock market. Yeah, I'm talking to you. It might be time to put down the adult |
| 0:44.3 | beverage and go home. From American's Friday, August 9th. Thanks for being here. |
| 1:04.6 | No need to beat around the bush. It has been a week that's felt more like two |
| 1:08.6 | when it comes to news in the economy. So let's waste no time getting into it. |
| 1:13.0 | Courtney Brown is at Axios, Catherine Rampell is at the Washington Post. |
| 1:16.6 | Hey, you two. |
| 1:17.8 | Hi, hi, thank you for having me. |
| 1:20.3 | Thanks for being here. |
| 1:21.9 | So we started the week with a global market sell-off on Monday and today |
| 1:27.1 | markets are basically back where they started. Catherine, I'm wondering how you felt about |
| 1:32.2 | the economy on Monday and then how you feel about it today. |
| 1:35.0 | I mean I feel kind of exhausted by the economy slash the markets all week. |
| 1:43.0 | But I think on Monday my reaction was, |
| 1:46.4 | okay, why is everyone panicking so much? |
| 1:49.6 | It seems like there's a bit of an overreaction. |
| 1:52.9 | I mean, to be sure, the jobs report |
| 1:55.7 | from the previous Friday, which should have already |
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