The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.
December 18th, 2008
Episode 70 of 911 episodes
On Tuesday, the Federal Reserve cut its key interest rate to the lowest on record. On Wednesday, Simon Johnson, former chief economist of the International Monetary Fund, explains what the federal funds target rate is, why anyone would want to change, how you do that, and what it means. Bonus: He loves the Mardi Gras feel of it.