

Gillian Tett on the Year Ahead
Nov 1, 2023
Gillian Tett, an acclaimed Financial Times columnist and expert in economic anthropology, shares her insights on today's pressing economic challenges. She discusses the potential impact of a second Trump presidency and the ongoing battle against inflation in the UK. Tett also delves into the transformative effects of AI on our lives and how an anthropological perspective can illuminate cultural shifts influencing global investments. With a unique blend of economics and anthropology, she offers a thought-provoking view on the complexities reshaping our world.
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Interconnected Global Economy
- The global economy is interconnected despite rising protectionism and geopolitical stress.
- Global value chains significantly impact growth, as demonstrated by IMF modeling.
UK Inflation Challenges
- The UK's falling inflation rate is deceptive, as it follows a period of extremely high inflation.
- Current inflation is driven by supply shocks, which central banks struggle to address.
Central Bank Dilemma
- Central banks face a difficult choice regarding interest rates.
- They must either ignore the 2% target or risk crushing growth and political backlash.