US watchdogs take on private equity
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 29 August 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Financial markets are bracing for a longer period of high interest rates, EU foreign ministers are set to suspend the bloc’s visa facilitation agreement with Moscow, and Alibaba is trying to manoeuvre a rebound. Plus, the FT’s Stefania Palma explains why the US antitrust officials are targeting the $10 tn private equity industry.
Mentioned in this podcast:
Jay Powell says Fed will ‘keep at it’ in hawkish inflation speech
Investors expect higher rates to persist after hawkish Jay Powell ends hope of Fed pivot
ECB officials warn of ‘sacrifice’ needed to tame surging inflation
US trustbusters: why Joe Biden is taking on private equity
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Monday, August 29. |
| 0:13.2 | And this is your FT News Briefing. |
| 0:18.6 | Financial markets are absorbing the hawkish words out of the Wyoming |
| 0:21.7 | meeting of central bankers this past weekend, |
| 0:24.0 | and the EU is set to shut the gates on Russian tourists. |
| 0:27.3 | Plus, we'll look at why the Biden administration is scrutinizing the $10 trillion |
| 0:31.6 | private equity industry. |
| 0:34.6 | I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:45.6 | Investors are bracing for a longer stretch of higher interest rates, |
| 0:49.6 | as central bankers focus on inflation. |
| 0:52.0 | That was the message from the world's leading central bankers during the Jackson Hole |
| 0:55.5 | Symposium in Wyoming this past weekend. |
| 0:58.0 | And markets responded with sharp sell-offs on Friday after Federal Reserve Chair Jay Powell |
| 1:02.6 | gave his keynote speech. Here's the FT's Colby Smith. |
| 1:06.1 | I mean, it was unequivocally the strongest message we've heard from Powell to date |
| 1:12.0 | about the central bank's commitment to route out high inflation. |
| 1:15.6 | There were some lingering hopes. |
| 1:16.8 | I think the Fed was starting to think more about two-sided risks, |
| 1:21.2 | meaning that it isn't just high inflation that they're worried about. |
... |
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