The Fed now says it expects a recession. Does that change anything?
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Well, that's a bummer: the Fed's minutes released yesterday indicate that central bankers believe there will be a mild recession by the end of the year. While it's not particularly surprising, it does dampen recent optimism surrounding lower-than-expected inflation data released this week. KPMG Chief Economist Diane Swonk helps us dissect what's in the minutes. Plus, Walmart announced it is closing half of its stores in Chicago due to low profitability — we look at how big box retailers tend to struggle in cities. And, Texas is looking to retool its power grid to add safeguards against power outages as seen during recent extreme weather events.
Segments From this episode
Walmart’s store closures in Chicago highlight the challenges of urban big box retail
Walmart says that, collectively, its Chicago stores aren’t profitable. But academics point out they’ll still leave a hole when they’re gone.
The Fed's minutes showed talk of recession amongst central bankers
Diane Swonk, chief economist at KPMG, explains what’s behind that recession talk.
Texas lawmakers want state-funded power plants to improve grid reliability
Blackouts and brownouts are becoming more common thanks to climate change. Grid managers say backup electricity options are essential — but at what cost?
David Brancaccio Host
Leanna Byrne Host, BBC
Kelly Silvera Executive Producer
Meredith Garretson Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer/Director
Jarrett Dang Digital Producer
Jesson Duller Media Producer
Nick Esposito Media Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Olie D'Albertanson Producer, BBC