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Morning Wire
Federal Rates Pause & Blinken’s China Trip | Afternoon Update | 6.14.23
Jun 14, 2023
04:24
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This podcast covers a variety of topics including the Federal Reserve's decision on interest rates, accusations against a White House Press Secretary, Secretary of State's upcoming trip to China, beer sales, and a Starbucks lawsuit.
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Quick takeaways
- The Federal Reserve has paused interest rate hikes to evaluate the impact of their anti-inflation measures, which have already increased costs for mortgages, loans, and credit cards.
- White House Press Secretary Karine Jean Pierre potentially violated the Hatch Act by referring to candidates as 'MAGA Republicans' before the midterm elections, which could result in a temporary suspension from the federal government.
Deep dives
Federal Reserve's Pause on Interest Rates
The Federal Reserve decided not to raise interest rates for the first time in 15 months, but this might be a temporary pause to assess the effectiveness of their anti-inflation measures. Despite increasing rates by 5 percentage points since March 2022, the central bank aims to bring inflation below 2 percent. However, these hikes have led to higher costs for mortgages, loans, and credit cards.
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Discover
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