The view from the Fed’s discount window
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 31 March 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
Banks borrowed less from the Federal Reserve’s emergency lending programs this week than the week before, a sign that the threat of additional bank runs could be waning. One of those programs is called the discount window, and banks really try to avoid it. We explain why. Plus, a big change in the oil world, and an exploration of the welfare-to-work industrial complex from the latest season of Marketplace’s “The Uncertain Hour.”
Transcript
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| 0:00.0 | Inflation is headed in the right direction, yes, but at what cost? |
| 0:07.1 | From American public media, this is Marketplace. |
| 0:18.4 | In Baltimore, I'm Amy Scott in Forkai, Rizdal. |
| 0:21.8 | It's Friday, the 31st of March. |
| 0:23.8 | Good to have you with us. |
| 0:25.5 | This is one of those days when the big story you're probably hearing about pretty much |
| 0:29.9 | everywhere else is not what we're going to talk about because there is plenty going |
| 0:34.2 | on in this economy to sort out, including the latest inflation report from the Commerce |
| 0:39.3 | Department to help us make sense of it all. |
| 0:42.2 | We've got Lynette Lopez, a business insider on the line, along with Jordan Holman from |
| 0:47.1 | the New York Times, who's actually at Marketplace HQ today. |
| 0:50.9 | Welcome back, you two. |
| 0:52.6 | Hi. |
| 0:53.6 | All right, let's start with that inflation report. |
| 0:56.8 | The PCE personal consumption expenditures price index was up, three tenths of a percent |
| 1:02.8 | in February from the prior month and running at 5 percent inflation from a year ago. |
| 1:09.5 | Lynette, what's your takeaway? |
| 1:11.6 | Well, it is one of the lowest reads we've had since 2021. |
| 1:17.4 | So it shows us that the Fed, you know, hiking interest rates, it seems to be slowing the |
| 1:23.4 | economy, some of the maybe jolt that we've had in the job market, some of the firings |
| 1:30.2 | are slowing down the economy, that kind of stuff, that's what we want to see. |
| 1:35.0 | The question is how much of it are we going to see? |
... |
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