When will the Federal Reserve start cutting interest rates?
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 9 August 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
Economists at Goldman Sachs predict that the Federal Reserve could begin to pare back interest rates by the middle of next year. So what kind of economic conditions would warrant such a change after a historic series of hikes? We’ll examine. We also look at the state of the restaurant biz and what happens when you can’t afford to own a car but can’t afford not to.
Transcript
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| 0:00.0 | Marketplace Morning reports new Skin in the Game series explores what we can learn about |
| 0:04.5 | money and careers from the $300 billion video game industry. |
| 0:09.2 | Plus, here how an Oakland-based program helps young people get the skills they need to break |
| 0:14.0 | into this booming industry. |
| 0:15.8 | Listen to Skin in the Game and more from the Marketplace Morning report wherever you get your podcasts. |
| 0:21.6 | How is the Fed going to know when it's time from American public media? |
| 0:32.4 | This is Marketplace. |
| 0:43.6 | In Los Angeles, I'm Kyle Rizzo. |
| 0:45.6 | It is Tuesday today, the 15th of August. |
| 0:48.2 | Good as always to have you along, everybody. |
| 0:51.4 | I'm going to say something here as we get going, then I'm going to let it sink in for a minute, |
| 0:56.3 | then I'm going to say something else, and then I'm going to let Justin Ho take over. |
| 1:00.4 | The thing I'm going to say is that the Federal Reserve Bank of Atlanta has a modeling tool that |
| 1:05.7 | it calls GDP now. That's gross domestic product as of right now. It's not an actual forecast. |
| 1:13.6 | It's not official. It's just what they get when they put current data into their model. |
| 1:18.0 | And as of right now, GDP now says third quarter economic growth, that is to say for the quarter we |
| 1:25.1 | are in, economic growth is going to come in at 5%, 5%, let that sink in. |
| 1:35.1 | So that's the thing I was going to say. |
| 1:36.5 | The other thing I was going to say is that given that and given what else is going on in this |
| 1:41.7 | economy, how long do you suppose it's going to be before the Federal Reserve starts talking |
| 1:47.2 | interest rate cuts instead of interest rate increases? As promised, Justin Ho takes over from here. |
| 1:55.2 | The Federal Reserve has been raising the Federal Funds Rate to around 5.5% now to bring down |
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