The Debt Ceiling and the Polarization in American Politics

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James Pleady: The U.S. debt ceiling fight was significant for global investors and the world economy. He says both Democrats and Republicans, even under heavy influence of Donald Trump, decided that it was better to strike a deal than see the fallout from a potential default. Inflation in the Eurozone fell to its lowest level since Russia invaded Ukraine just over a year ago - FT's Chris Miller.

Binance has lost a quarter of its market share, the US government is on the verge of passing a deal to raise the debt ceiling, and Eurozone inflation has fallen more than economists expected to hit its lowest level since Russia’s invasion of Ukraine. Plus, Ukraine’s attacks such as the Moscow drone strikes are seen as ‘magician’s sleight of hand’ that deceives the Kremlin and derails Russia’s plans.

Mentioned in this podcast:

Binance loses market share after regulatory clampdown

Chuck Schumer races to push US debt ceiling bill through Senate by end of week

Eurozone inflation falls to lowest level since Russia invaded Ukraine

Military briefing: Ukraine’s daring ‘shaping operations’ stretch Russian defences

Rachman Review podcast: Is the Ukraine War reaching a turning point?

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, 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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