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The Indicator from Planet Money

What a cabinet maker can teach us about interest rates

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 1 May 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

The Beigie Awards are back to recognize the regional Federal Reserve Bank with the best Beige Book entry. This time, we shine a spotlight on one entry that explains how some businesses are feeling the impacts of higher for longer interest rates.

Related episodes:
The interest-ing world of interest rates (Apple / Spotify)
The Beigie Awards: Why banks are going on a "loan diet" (Apple / Spotify)
Where are interest rates going?

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Transcript

Click on a timestamp to play from that location

0:00.0

NPR. Waylan, have you been following the latest news from my favorite artist,

0:16.5

Beyonce?

0:17.5

Oh, you mean cowboy Carter, taking the music world by Storm?

0:21.6

Why yes, I have been replaying that song, Body Guard, like 50 times a day.

0:26.0

Yeah, I have no idea what you're referring to.

0:28.0

I was talking about the bigger Beyonce news.

0:31.0

She posted a hot new fashion look to her Instagram account. Check out this photo.

0:36.0

Ooh, right, she's wearing an outfit that you know mere mortals should not attempt.

0:41.8

It is a beautiful monochromatic suit

0:45.1

with like slouchy trousers and a trench coat

0:48.5

and a beautiful hat.

0:49.8

And then she has like a turquoise bolo tie. And it's beige. She is head to toe in the

0:56.2

color beige. At the indicator we have been waiting for this color to come back

1:00.5

into fashion for years now.

1:03.2

Because Beige is the color of our favorite government report,

1:07.4

the summary of commentary on current economic conditions.

1:11.3

Better known as the Beige Book, a gripping document released by the Federal Reserve and filled

1:16.7

with little anecdotes about the economy.

1:19.2

We've always joked about dressing up in beige every time the report comes out and now Beyonce of course has

1:24.6

gone and done it always a trailblazer.

1:26.5

It's the Bage awards are eight times a year salute to the art and science of telling stories about the economy.

1:37.0

I'm Robert Smith.

...

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