Is the Fed Underdoing Its Job?

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Price pressures are coming off the boil, and if you look at the month-over-month rates, you're just seeing a little bit of a moderation in some sectors. But there's a clear cohort of officials who are still quite concerned about upward pressure on inflation. That's really going to be the scope of the debate throughout 2023 is how to balance whether or not the Fed is appropriately calibrating policy.

China is enlisting the help of tech giants to reduce its dependence on foreign semiconductor technology, the Federal Reserve is divided over how much to raise interest rates, and private equity firms are selling an investment product similar to the collateralised debt obligations that fuelled the 2008 financial crisis.

Mentioned in this podcast:

Fed officials in danger of splitting on future rate rises, warn economists

China enlists Alibaba and Tencent in fight against US chip sanctions

Collateralised fund obligations: how private equity securitised itself

Alibaba founder Jack Ma living in Tokyo since China’s tech crackdown

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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