Will rising interest rates actually lower prices?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 14 July 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
US consumer prices rose more than forecast in June, hitting an annual pace of 9.1 per cent, and investors are shunning 20-year US government bonds. Plus, a clash of cultures and geostrategic interests sank a German-Chinese joint venture competing in the new space race.
This episode states Canada raised its interest rates by a 'full basis point' when we mean 'full percentage point'. We regret the error
Mentioned in this podcast:
US inflation hit 9.1% in June putting further pressure on Fed
Ukraine and Russia making progress on grain talks, says UN
The corporate feud over satellites that pitted the west against China
FT Live Event: Britain after Boris Johnson ft.com/afterjohnson
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. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
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. |
| 0:11.4 | Today is Thursday, July 14th, and this is your FT News Briefing. |
| 0:18.5 | Squarching prices could mean higher interest rates, but will that cool inflation? |
| 0:24.3 | And Ukraine and Russia are making progress on grain talks, says the United Nations. |
| 0:29.7 | Plus, a partnership between Europe and China to put satellites in space |
| 0:33.2 | went very, very wrong. And there's a larger tale to tell. |
| 0:38.4 | The number of the story is really what these low-earth orbit constellations will mean |
| 0:44.1 | for the future of telecommunications and how countries and governments are going to regulate |
| 0:51.7 | this increasingly competitive space. |
| 0:55.5 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:59.6 | Markets barely reacted to the latest US inflation numbers out yesterday, and they were worse than |
| 1:11.2 | expected. Prices for June rose 9.1% over last year. But there's a lot to say about what this |
| 1:18.0 | number means for the Federal Reserve and the economy. Here to break this down is the FT's US |
| 1:23.0 | economics editor, Colby Smith. Hey, Colby. Hi, Mark. So Colby, the market really hasn't |
| 1:29.0 | reacted to this. I mean, yesterday the S&P 500 was down like half a percent. Why is that? |
| 1:35.5 | I think most notably, we've had a really big shift in interest rate expectations for the |
| 1:40.8 | Federal Reserve and its upcoming policy meeting at the end of the month. Prior to this inflation |
| 1:46.5 | report, essentially economists and market participants repricing in a very high likelihood that |
| 1:52.9 | the Fed was going to proceed with another 75 basis point interest rate increase. But what we did |
| 1:59.3 | see over the course of yesterday was the fact that the odds for a full percentage point interest |
... |
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