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Mar 16, 2020

What the Fed is up to

Markets are falling again this morning, even with a big move to boost the U.S. economy in the face of COVID-19. What do municipalities’ rainy day funds look like right now? Severe drops in public transit ridership.

Federal Reserve Chair Jerome H. Powell announces a half percentage point interest rate cut during a speech on March 3, 2020 in Washington. — Federal Reserve Chair Jerome H. Powell announces a half percentage point interest rate cut during a speech on March 3, 2020 in Washington.
Mark Makela/Getty Images

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Segments From This Episode

With COVID-19 slowing local economies, cities and towns may need to tap rainy day funds
by Marielle Segarra
Mario Tama/Getty Images
Municipalities may find their tax revenues declining.
COVID-19 could stress mass transit budgets
by Justin Ho
Johannes Eisele/AFP via Getty Images
The San Francisco Bay Area’s transit system says it’s losing $500,000 a day in lost fares.

Music from the episode

The Team

David Brancaccio Host
Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Meredith Garretson Morbey Senior Producer
Alex Schroeder Producer
Erika Soderstrom Producer
Rose Conlon Producer
Brian Allison Technical Director