What's Going on in the U.S.?

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Edge: Consumer demand is still so high even though everything seems to have gotten more expensive. He says there are several factors here, including health concerns associated with the pandemic and supply chain shortages. This year is probably going to be the first that we've seen since the outbreak of the pandemic, Edge says.

Mortgage rates in the UK on five-year fixed deals have dipped below 6 per cent for the first time in nearly two months, and US retailers are facing their first real-terms fall in revenues since the global financial crisis this holiday season. Plus, the FT’s gulf correspondent, Simeon Kerr, explains why there’s so much pressure on Qatar as the country hosts the World Cup.

Mentioned in this podcast:

Mortgage rates on five-year fixes tip below 6 per cent

US retailers face first real-terms fall in sales since financial crisis

Video: Qatar's World Cup legacy

FIFA: Saleh Al-Shehri scores for Saudi Arabia vs Argentina!

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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