Harriet Torry

speaker

611 appearances 11 recordings 1 series first heard Sep 2017 last heard Dec 2024

Harriet Torry’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Consumers' Stimulus Dilemma: Spend, Save or Pay Down Debt? · 26 Jan 2021 podcast

So that would be potentially, you know, even more money coming into people's pockets.

It's interesting, like a lot of economists are pretty pessimistic on growth in the first quarter because we've seen this big jump in COVID cases and also headed into the first quarter.

It wasn't until the very end of December that we saw the $600 checks come through in the second round of stimulus.

But now that, you know, those checks have mostly gone out and we have this prospect of extra support in the form of a new relief package, economists are expecting that after the first quarter that growth should really pick up pretty nicely.

Services is the big sector that is expected to be impacted by this.

I mean, one thing that we've seen during the pandemic is that spending on durable goods has remained really high because people have stayed at home and they've been buying things like exercise bikes and home improvement supplies.

But now, you know, if people are able to get out and about again, the expectation is that they really want to spend on experiential things like going to concerts, going to bars, going to restaurants and traveling.

And the hope is that this will create a sort of virtuous circle because those are industries that were very hard hit by job losses during the pandemic.

You know, bars and restaurants really shed a lot of jobs when people

businesses had to close down so the idea is that if people suddenly want to go out and dine out again and and go out and party and things that there will need to be this big pickup in hiring in in the services industries in order to staff up to serve all these customers who are sort of beating down the door because they want to um meet up with their friends and so on and that will create a kind of virtuous circle where you know hopefully unemployed the unemployment rate

situation will improve rapidly which is unusual because usually what happens after a recession is that businesses tend to hire cautiously and also people have been sort of they might have lost income in the recession so they will be hesitant about spending and so on that hasn't been the case necessarily in this recession of course some people have suffered enormously but many households have been working from home and they've been saving money

So they have the money to spend and, you know, the inclination to perhaps go out and start doing things again quickly.

So the hope is that that will have a big impact on employment because, you know, once people decide that they are ready for that vacation or they want to go to a theme park, that those places will need to hire in order to meet all the increased demand.

Thank you.

WSJ Your Money Briefing · Credit Card Use Deepens Divide Between Consumer Groups · 22 Jun 2020 podcast

If you're a customer who's making $200,000 a year, you're getting this 3% discount.

It really adds up over time.

And it's almost like it's what one economist calls a giant reverse Robin Hood effect that moves billions of dollars a year around the economy.

Well, when you buy something with a credit card, the merchant usually remits around 2% of the price to the bank that issued it.

And that fee can be higher, and sometimes it's around 3% on reward credit cards.

So the bank returns some of these interchange fees, they're also called swipe fees, to the cardholder in the form of rewards, including like cashback points or air miles.

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