Why the Fed Went Big With Its Rate Cut

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 18 September 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Sept. 18. WSJ economics reporter Paul Kiernan discusses the Federal Reserve’s decision to cut interest rates 0.5%—its first reduction since 2020. And Hezbollah scrambles after a second wave of deadly attacks with exploding devices across Lebanon. Plus, the Journal’s Kate King on why dollar stores are responding to shrinking sales with new store openings. Tracie Hunte hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's 4 a.m. and you're sucking baby snot through a tube because she's congested.
0:04.0	If you love her that much, love her enough to make sure she's buckled in the right car seat.
0:08.0	Find out more at NHTSA.
0:10.0	G.gov slash the right seat.
0:12.0	Brought to you by the National Highway Traffic Safety
0:13.4	Administration and the Ad Council.
0:17.0	Hezbollah is hit by a second wave of exploding devices in Lebanon.
0:23.0	And the Federal Reserve swung big today with a half a percentage point cut.
0:27.5	All eyes now are on what's next.
0:29.8	Powell signaled that he really wants to keep his options open. They're going to look at each
0:34.0	incoming data point between now and their next meeting in November. Plus,
0:39.1	dollar stores answers to shrinking sales? Open more stores.
0:43.8	It's Wednesday, September 18th.
0:45.8	I'm Tracy Hunt for the Wall Street Journal.
0:48.1	This is a PM edition of What's News,
0:50.4	the top headlines in business stories that move the world today.
0:54.0	The weight is finally over.
1:01.0	The weight is finally over.
1:03.0	Federal Reserve Chair Jerome Powell today announced a historic interest rate cut of half a percentage point.
1:10.0	We now see the risks to achieving our employment and inflation goals as roughly in balance.
1:16.0	And we are attentive to the risks to both sides of our dual mandate.
1:20.9	In light of the progress on inflation and the balance of risks at today's meeting the
	...

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