The recession that’s always six months away
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 7 March 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
Federal Reserve Chair Jerome Powell took a trip to Capitol Hill this week to testify about the health of the U.S. economy. We’ll get into the TL;DR of Powell’s testimony and why he doesn’t foresee a recession around the corner. And, we’ll talk about how political campaigns are spending on advertising these days. Plus, the latest regional banking woes and what rapidly advancing deepfakes could do to this year’s elections.
Here’s everything we talked about today:
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- “Key takeaways from Fed Chair Powell’s testimony on Capitol Hill” from CNN Business
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- “Steven Mnuchin Backs New York Community Bank in $1 Billion Deal” from The New York Times
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- “Deepfakes and the 2024 election season” from Marketplace
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Transcript
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| 0:00.0 | All right, we can begin. |
| 0:03.0 | Hey everybody, I'm Kai Rizdall, |
| 0:08.0 | Hey everybody, I'm Kai Rizdahl, |
| 0:11.0 | welcome back to Make Me Smart, where we make today make sense. |
| 0:14.7 | And I'm Kimberly Adams. |
| 0:16.7 | Thank you for joining us on this Thursday, March the 7th. |
| 0:20.4 | We are going to do what we do on Thursday is listen back some of the big stories of the week. |
| 0:24.2 | We obviously have audio lined up so that we can actually listen, as can you, and then we'll talk |
| 0:29.2 | about them a little bit. |
| 0:30.2 | Here we go, Drew, let's hit it. |
| 0:31.2 | There's no evidence, or no reason to think that the U.S. economy is in or |
| 0:36.2 | in some kind of short-term risk of falling into recession. |
| 0:39.3 | Having said that, though, there's always a, you a probability a meaningful possibility that that an |
| 0:46.6 | economy will fall under recession I don't think that that that possibility |
| 0:50.2 | though is elevated at the current time let me go one further than the chairman of the Federal Reserve. |
| 0:55.0 | One J-Pahl, that was him yesterday on Capitol Hill. |
| 0:58.0 | He's there again today, his semi-annual monetary or policy report to Congress. |
| 1:02.0 | There is going to be a recession. It just happens. |
| 1:05.2 | That's the way it goes. You have contractions and expansions. |
| 1:08.1 | Contractions and recessions. They come. But we've been talking about a recession now being six months away for a year and a half and Chair Powell and the rest of the Fed says we're not looking at it right now. |
| 1:18.0 | Economy's healthy, it's growing, inflation is slowing a lot actually and the chair you know was was saying what he always |
| 1:27.8 | says my favorite part of that whole thing this is the yesterday part the the |
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