The U.S. is entering a new economic era. It began with an interest rate tightening cycle coming out of the Federal Reserve, with decisions that have reshaped personal finance in America. Some savings accounts can now return meaningful interest for the first time in years. It has also led to a Wall Street reshuffling, and a wave of corporate bankruptcies as some bad bets turn sour. With these free money years coming to a close, we examine how the Fed's decision-making has affected the economy.
Chapters: 00:00 — Introduction 01:20 — Jobs, wealth and inequality 03:55 — Zero interest rates 06:02 — Wall Street 08:02 — Risk-taking 09:40 — Unconventional policies
Producer: Carlos Waters Editor: Nora Rappaport Graphics: Alex Wood, Andrea Schmitz Supervising Producer: Lindsey Jacobson Additional Camera: Jeff Morganteen, Bradley Howard Additional Footage: European Central Bank, Getty Images Additional Sources: Bain and Company, Bank for International Settlements, Bureau of Labor Statistics, Capital One, Federal Deposit Insurance Corporation, Federal Reserve Bank of Chicago, Federal Reserve Bank of St. Louis, Mercatus Center at George Mason University, National Bureau of Economic Research, Organization for Economic Co-operation and Development, University of Pennsylvania
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