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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Appearances
And there are numerous reasons for this, but the overriding reason was the Fed raising interest rates.
They've raised rates very sharply, very quickly to a 22-year high.
And I think most people just thought, okay, consumers are going to buckle eventually.
Housing loans are getting much more expensive.
Auto loans are much more expensive.
People are running down their pandemic savings.
Exactly.
But at the same time, what we've seen is that the labour market has stayed really strong.
And that means, you know, more people getting jobs, people getting wage increases, and that has enabled them to keep spending.
And that has come as a surprise.
I think just the strength of the consumer.
over these past few months.
And they've also been helped by the fact that inflation has cooled a lot.
It's come down from its highs of last summer.
We have some other things that are going on in the economy as well.
You know, we've seen bond yields, which through the tightening of financial conditions that that implies, that kind of helps the Fed maybe stay on hold.
But inflation is still not back where the Fed wants it to be.
Well, I think that the Fed is going to stress its data dependence.
And the Fed always stresses its data dependence.
That's not something that's like particularly new.
Showing 121–140 of 611 · page 7 of 31
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