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Marketplace Morning Report

Mississippi business owner celebrates rate cut

Kai Ryssdal and Andie Corban Aug 1, 2019
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Floodwaters in Vicksburg, Mississippi back in 2011.
Mario Tama/Getty Images

Things haven’t been easy this year for Austin Golding, owner of Golding Barge Company in Vicksburg, Mississippi. For much of 2019, the Mississippi River has faced flood conditions which affect how much cargo Golding can put on his barges.

Marketplace host Kai Ryssdal called Golding up to see how things are going, and found he got a piece of good news yesterday when the Federal Reserve announced a rate cut.

Golding disagrees with Fed Chair Jerome Powell’s insinuation that a quarter point change in the interest rate doesn’t affect business investment.

“It’s a big issue for us,” Golding said. “Every basis point matters to us, as a small business.”

Although he say he’s seeing signs that the economy in Vicksburg may be slowing down, Golding is hopeful that things will remain strong.

Click the audio player above to hear the interview.

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