logo
episode-header-image
May 2023
28 m

No, Really. Are We Finally Heading Towar...

Bloomberg and iHeartPodcasts
About this episode

First Republic Bank is the latest financial institution to fail amid turmoil across the industry. Meanwhile, inflation is still high. Layoffs are rocking some industries. And labor shortages are throttling others. So… are we about to face the recession that economists have been predicting for months now? Today, Bloomberg reporter Reade Pickert and senior executive editor Chris Nagi read the tea leaves on where the economy is headed.

Read more: First Republic Becomes Second-Largest Ever US Bank Failure.

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK 

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

See omnystudio.com/listener for privacy information.

Up next
Yesterday
Why Austan Goolsbee Is Still Concerned About Inflation
Chicago Fed President Austan Goolsbee is still more concerned about the inflation side of the Fed's mandate than he is about the employment side. This is noteworthy because in general markets are expecting rate cuts to come soon, and also Chairman Jerome Powell, speaking in Jacks ... Show More
34m 35s
Aug 22
What Powell Said About the Possibility of a September Rate Cut
In a speech at the annual Jackson Hole Economic Policy Symposium, Fed Chair Jerome Powell left the door open for a possible interest rate cut in September, sending a positive signal to Wall Street that pushed markets higher. This comes at a unique moment for the US Central Bank, ... Show More
18m 20s
Aug 21
Welch’s Fruit Snacks Get a MAHA-Friendly Makeover
The Trump Administration wants to “make America healthy again” and one of its top priorities is removing artificial dyes from food. The company behind Welch’s Fruit Snacks has spent the past ten years doing just that. On today’s Big Take podcast, Bloomberg’s Will Kubzansky takes ... Show More
17m 41s
Recommended Episodes
Jul 2022
Freaking out about the economy? Let's talk.
Gas prices are high, unemployment is low and the tools the federal government has to fight inflation could cause a recession. So how should we think about the economy right now? We asked our econ reporters and a personal finance columnist for advice.  Read more: Businesses and co ... Show More
30m 33s
Nov 2021
The Economy Is Good. So Why Do We Feel Terrible About It?
The U.S. economy is doing better than many had anticipated. Some 80 percent of jobs lost during the pandemic have been regained, and people are making, and spending, more.But Americans seem to feel terrible about the financial outlook.Why the gap between reality and perception?Gu ... Show More
25m 12s
Apr 2022
The Economy Is Weird Right Now
Unemployment in the United States is near record lows, wages are growing quickly, and spending in the service sector is increasing as the pandemic lulls. But there's also some worrying news: more job openings than people who want to fill them, global economic uncertainty stemming ... Show More
14m 29s
Apr 2023
First Republic Teeters, Wages Rise
Federal regulators dissected Silicon Valley and Signature banks today, delivering post-mortems on last month’s banking crisis. But on Wall Street, the crisis is far from over, with shares of First Republic Bank plummeting amid fears it could go into receivership. CNN Political Di ... Show More
8m 12s
May 2020
Money Talks: Eye of the hurricane
America and Europe face a wave of corporate bankruptcies as a result of covid-19. But will some businesses be able to restructure rather than go broke? Also, why some are calling for the Federal Reserve to turn to negative interest rates to alleviate the slump. And, is now the ti ... Show More
24m 15s
Aug 2023
Money Talks: Lessons from the great macro experiment
American economists are scratching their heads in confusion. The Fed’s aggressive rate hikes hasn’t produced the outcome many expected. Instead of recession and massive layoffs, the US economy now looks tantalisingly close to a fabled “soft landing” with the jobs market remaining ... Show More
45m 30s
Mar 2023
Money Talks: What went wrong at SVB?
Until last week, most people beyond California and the tech world probably hadn’t heard of Silicon Valley Bank, but its swift collapse made headlines across the globe. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird examine what brought the bank down and ... Show More
44m 13s
Dec 2022
How Layoff News Is Hiding a Hot Job Market
 Companies like Meta and Twitter have said that they will be cutting jobs. Google and Amazon have announced that they are putting a freeze on any new hiring.Are tech layoffs a sign of things to come across other sectors? Is this the opening bell for the bad news on the economy th ... Show More
21m 36s
Listen to millions of songs and podcasts on Anghami