FT News Briefing Fed signals more economic pain to come
Sep 22, 2022
The Federal Reserve hit the gas with a significant interest rate hike to tackle inflation, stirring up concerns about an impending recession. Meanwhile, Credit Suisse is considering a major restructuring of its investment bank following past scandals. The podcast also delves into the alarming rise of ransomware attacks and how businesses navigate these threats, featuring a fun game to test listeners' negotiation skills against cybercriminals. Join the discussion as these topics intertwine economic challenges with cybersecurity risks.
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Fed's Rate Hike and Potential Economic Impact
- The Federal Reserve raised interest rates by 75 basis points, signaling continued efforts to combat inflation.
- Chair Powell acknowledged the possibility of economic pain, including a housing market correction, as a necessary trade-off.
Credit Suisse Restructures Investment Bank
- Credit Suisse plans to restructure its investment bank into three parts, marking a significant shift in its business strategy.
- This move aims to address past scandals and prioritize wealth management over risky investment banking.
Ransomware Negotiation Tactics
- Employ a "delay, delay, delay" tactic during ransomware negotiations to gather information and potentially get systems back online.
- Delaying can also lead criminals to give up, especially if they have quotas or face internal pressure.