The Planet Money folks are celebrating the TED Spread's brief dip below 1.00 today.
So, what's the TED Spread? It's not a fancy dip or a warm blanket, but...
Basically, it's a measurement of anxiety among banks. The lower, the better. (The Spread dipped below 4 in mid-October 2008.)
This program aired on January 13, 2009. The audio for this program is not available.