Episode 16: The Fed Finally Raised Interest Rates. Now What?

(Bloomberg) -- The Federal Reserve finally raised its main interest rate, after years of keeping it near zero to help pull the U.S. out of a severe recession. What does that mean for Americans' everyday lives? Michelle Meyer, deputy head of U.S. economics at Bank of America, joins the hosts to break down why this week's event was so significant for the economy, and how consumers, businesses and the government could all be affected by the central bank's move.

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Will Covid-19 reshape the global economy or simply shrink it? What are nations doing to protect jobs and businesses from the fallout, and what will the long-term consequences be for labor markets, global supply chains and government finances? On Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders—the former BBC economics editor and chief market strategist for Europe at JPMorgan Asset Management—we combine reports from Bloomberg journalists around the world and conversations with internationally respected experts on these and other issues to bring the global economy to life.