Kai Ryssdal talks with Leigh Gallagher from Fortune magazine and Sudeep Reddy from the Wall Street Journal.
Sudeep Reddy: It is pretty confusing. And the difference was the number of questions he got on one day versus the other on this particular issue. He’s really in this careful dance right now, trying to improve the public’s confidence without sounding terrified about this latest slowdown. He wants to show that the Fed isn’t out of tools entirely.
On why the markets don’t seem to be affected by the debt talks:
Leigh Gallagher: I think the Fed has a singular ability to move markets more than almost anybody else. I think much of the talk in Washington is so political, and I think the markets realize that. And I think there is an expectation that we’re not going to default; that this is all show and theater.
For more, click on “Listen to this story” at the top of the page.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.