Fed Interest Rates, Mental Health Care, World Cup Preview
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Interest rates are higher than they've been in twenty years.

but not quite high enough to choke off inflation. So the fed is expected to raise them again. Are they achieving a soft landing for the economy?

I'm laa foldit that Steven skip. And this is up first from N. P. R. news. Our insurance companies stiffing people who need mental health care president violence says yes. And the us. Is proposing a rule to make sure mental heal care is just as accessible as treatment for your physical health.

Also, much of the world has world cup euphoria in new zealand, and today the U. S. Women's national team plays the, with the prospects for the american defending champions.

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Anybody with a credit card or in the market for a new house or a new car can feel the difference in interest rates.

Yeah, rates are higher than they've been in decades. The federal reserve repeatedly raised them to fight inflation. IT took a break last month, but this week it's key players meet again in pier.

Stacy and Smith will be at the fed meeting today. Hey, there's Stacy.

Happy fd day, Steve. Oh.

thank you. Delighted that you join us on this near holiday. What happens now? Well, today everyone's .

expecting the fed will on pause. We're expecting to see IT raise interest strates by a quarter percentage.

why? And the pause.

So the fed is always try to strike this baLance up, you know rates, industry rates just enough to slow the economy down to where inflation falls, but not so much that we end up in a recession. So we need strates rise. IT makes IT more expensive.

Us to borrow money, we tend to borrow less money, spend less. And that means company, we sell less stuff. There's less demand.

And that usually brings Prices down. But of course, win companies make less money. They also don't expand, and they often lay people off.

All this can cause a recession. So the feeds always trying to strike this baLance. Economists call IT a soft landing, uh, slowing the economy down just enough, but not too much.

And for the last year, the fed has taken really aggressive action. Interest rates are higher than they've been in more than twenty years. So a lot of people said the pause was to try to see how things are settling and and hopeful fully help us strike this baLance, the soft landing.

I won't thought we would have just about landed at this point or maybe at least be at that moment where you know you're about to touch down and you can see the runway at your window. Inflation is down to three percent. Why rates? Interest rates again. Now.

yes, inflation is down to three percent. That is not far away from the fed's goal. Inflation rate of two percent.

you. So why just not quit IT with the rate tax already? Give the economy of a break.

Uh, I put that question to economist raj rum rogin. He ran the central bank in india for years. h. He's a professor at the university of chicago, and he told me he thought the fed was wise to be cautious.

I think the message they wanted to send is things are moving in the right direction, but we need time to see how much more we need to do rather than, you know, we're done. We were waiting to see how the economy reacts and deciding how much more medicine IT needs Rogers's.

Declaring Victory over inflation too soon could destroy the progress we've made. If inflation gets momentum, what's often called in an inflationary real Prices start to rise out of control, or saving starts being worth less and less. This happened in the U.

S. In the seventies, and the fed had to take really aggressive action. IT was years of recession, years of high unemployment. And right now in the U. S, everything is moving in the right direction, and rogan says the fair probably does not want to risk taking its foot off the breaks too soon. So our hot pause summer is expected to come to an end.

Hot pause summer, that sounds like a hit song going. It's true. Well.

with the fed, you've got ta try to like bring a little excitement where you .

can and fear sativa tis smith, you always bring me excitement.

Thanks is all. Thank you, Steve.

Okay, if you break your ARM, you go to the doctor, and if you have insurance, they would usually pay. Many people report a much harder experience when they seek mental health care.

It's hard to find the treatment in network and hard to get insurance to pay, president biden yesterday said health journal. Companies are not fully following the law. He's proposing new regulations that would push companies to try harder and pay up.

You get referred to see mental health special, but when you make the appointment, I say, I can't see you until your doctor submits the paperwork and get special permission from the insurance company. Give me a brick and uka. Gucci was listening to the announcement yesterday, and it's on the line. Good morning.

Good morning. save.

What's the White has trying to do?

It's trying to strengthen existing policies that are already in the books, and IT wants to do so by closing loops that have left patients with too few options for mental health care covered by insurance. And historically, insurance didn't cover care like therapy the same way I did physical care like surgery and a landmark two thousand eight law try to change that, but just found ways around IT. For example, IT might appear as that would ensure has a network of mental health professionals, but in fact, many of them might not be taking new patients or no longer practicing or are too far away, or sometimes insures would require picking or work to authorize treatment repeatedly in order to keep getting treatment. So some families told me the reauthorization could be almost daily OK.

So the principle here, the you're supposed to have equal access to mental health care, equal to what you would get for your physical health. What are people doing? What instead they find these barriers.

Well, you know, it's is a really crisis situation in a lot of cases. And if you don't have insurance, it's a huge cost. By paying out of pocket for them, you like impatient treatment can easily cost hundred thousand dollars or more. So even families with resources often end up tapping a resource of cash and credit. They can like this michigan woman, Rachel, who last year described the situation paying for her son's treatment.

Our whole of our savings is gone. how? How are we going to send our kids at the school? How are we going to like what are we going to do and it's time for like how are we going to recover from this? I don't know those thoughts in your mind, like there is no space for that when you are just trying to keep your child alive now.

And Steve, out of desperation, some families even empower, shed themselves to qualify for public insurance like medicaid, and some for go care, and let conditions were into a bigger crisis or end up in the E. R.

But all of this is happening under an existing fifteen year old law, as you mentioned that I know has also been updated more recently. So what is the White house proposed to do about that?

Well, it's trying to address the fact that there is not a lot of good data or even clear definitions to track. These policies affect patients. So IT really hasn't been possible to hold insures accountable. And the White house also wants a Better reimbursement for the doctors and therapies who provide this care. And the hope there is that maybe that will draw more people into the profession oh.

that's what I would have assumed was part of the problem is just not enough mental health care providers to go .

around yeah absolutely right. At a time when mental health crisis are really on the rise, um you know there aren't enough professionals to take care of them and that's something that's gonna take a lot of time to solve. And even the president acknowledge that, well, with these policies, he wants to address insurance problems. There are still lots of problems with access to care generally.

N, P, R, consumer health core responded, you can. Gucci, thanks so much.

Thank you, Steve.

And since we've raised mental health, let's mention this, if you or someone you know is in crisis, call or text, nine, eight, eight, three, numbers nine, eight, eight for the national crisis. Life, life.

Okay, let's go next to the women's world cup, where we expect a showdown.

Yeah, the U. S. Women's national team on their first match against vietnam last week. Tonight they face the team they played in the finals of the twenty nineteen world cup, the netherlands.

The game has been played in australia and new zealand, so let's go to new zealand, where we found Henry bushnell, senior soccer reporter for yahoo sports. welcome.

Thanks, Steve, for having me. I I am glad with .

this because we're having a discussion before the program and so is on the staff for like what the world world cup is going on and other people were shouting, what's the matter with you? This is the biggest thing in the world. So if you could just bring us up to date here on what is a huge thing for much of the world, how do you assess these two teams playing the day the us. netley?

Yeah, I think there's there's a lot of excitement because as you mention the USB vietnamese first game, but that was almost a warm up in a way even the vietnam's coach players think they really had a shot to win the dutch. You're exactly the opposite there. There may be not the best opponent that the us.

Will face here, and the us. Is still favorite to win a third consecutive title. But this kind of is growing theme that we hear from other big soccer countries.

Now they don't fear the U. S. anymore. There used to be this ora around the U. S. Women's national team. IT seems to be kind of fading a bit because they haven't been all that dominant over the past four years and especially over the past two years. So I think that are is almost on the line at this world cup um and especially tomorrow, which is really the first true test for the U. S.

here. And we should clarify when you say tomorrow, you mean tomorrow new zealand IT is tonight here in the united states. Let's talk about one of the stars who would bring the us.

Forward if the us. Gets forward at all so far. Smith, didn't you have an amazing gaming in?

yes. And SHE is the breakout star of this tournament. I think we all expected IT, but he still had to go out on the field and do IT.

And yes, he opened with a bang. Two goals and one assist contributed all three of the us. goals.

And you know, that could be a bit of a theme. Uh, going for this. U. S team can struggle to create chances at times, but when you have one or two brilliant players score goals, and Sophia Smith is absolutely one of those players.

well, let's talk about both aspects of that. First, the individual. What do you think makes Sophia Smith such a star?

She's got at all in terms of attacking talent. She's got pace. She's got skill on the ball and off the ball. And for a Youngster, she's planning at her first world cup. But he really understands the game really well.

He can play up front as as the main striker, middle of the front three, or he can play on the wing, which is where he usually played for the U. S. H.

SHE can score with both, both feet. SHE can run with the ball at her feet, so she's really a complete attacker. And is gonna be kind of one of the faces of U. S. Women soccer for at least a decade to come, I think.

But part of a team that you sense is not quite as dominant as maybe IT has been in the past is there's something about the team dynamics emerging that start other stars into a broader team that is working in, in a difficult way.

There's a lot of issues here. One is that they had a lot of injuries and other teams had I have had injuries. Two, and it's is not an excuse, but the us.

Has been hit particularly hard. I think they also have a coach vocal and oski who a lot of people are questioning um and and who has been quite gotten the best out of this team. And then the other aspect of this is that other teams are catching up and the dutch coach actually set IT here a few hours ago.

Everybody in europe thinks that they are closing the gap on the us. Because they're investing in women soccer more and more. And now they wanted answer. How close are we? And I think we'll start getting that answer tomorrow.

Henry bush now and willing to new zealand. And thanks so much.

Thank you.

He covered soccer for yahoo s sports. And it's up first for this wednesday, july twenty six.

I'm Steve van skip and i'm lay a folded up first is produced by nana, vince I and job I hawkins, editors, arena and our technical director. Is that all in with engineering support from state abbott? Start your day here .

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