The median unemployment rate projection in the SEP rises to 4.5% at the end of this year and 4.6%. Inflation remains well above our longer run goal of 2%. Chair Powell came out and said that he thinks the problems are under control. The banking sector turmoil for now seems to have calmed down, but the underlying issues are still very much there.
Central banks face a painful tradeoff: raise rates too quickly and risk banking-sector instability. Raise them too slowly and risk continued high inflation. Our correspondent travelled to Kyiv to meet a woman who has rescued hundreds of wild animals. And reflecting on the legacy of a woman who changed British attitudes toward sex.
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