Is the U.S. Economy In ‘A Once-in-a-Lifetime Financial Transition’?
15 Mar 2023
“I think we are in a once-in-a-lifetime financial transition, and I think that everybody needs to sort of strap in for that,” says Rana Foroohar of the Financial Times in this excerpt from the new FRONTLINE documentary “Age of Easy Money.”
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Premiering March 14, 2023, “Age of Easy Money” examines how the policies of the U.S. central bank, the Federal Reserve, ushered in an age of easy money — and explores the potential consequences of the Fed’s decision last year to start hiking interest rates at a historic pace in an effort to fight inflation.
This excerpt shows how many economic experts FRONTLINE spoke with alluded to a particular quote to describe the current economic moment, in which the risks and excesses that had been building in the age of easy money are beginning to surface.
“When interest rates start to rise, and the tide pulls out, as Warren Buffett would say ... you begin to see who's not been swimming with their shorts on,” Foroohar says in the clip.
“Age of Easy Money,” a two-hour special, premieres Tues., March 14, at 9/8c on PBS stations (check local listings), at pbs.org/frontline, in the PBS Video App and on FRONTLINE’s YouTube channel.
The director, producer and correspondent of “Age of Easy Money” is James Jacoby. The producer is Anya Bourg. The senior producer is Frank Koughan. The editor-in-chief and executive producer of FRONTLINE is Raney Aronson-Rath.
Explore additional reporting related to "Age of Easy Money" on our website: https://www.pbs.org/wgbh/frontline/documentary/age-of-easy-money/
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Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; the Heising-Simons Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen.