The Intelligence from The Economist
The Intelligence: Growing, no pains
Jan 11, 2024
Simon Rabinovich, U.S. economics editor, shares insights on the surprising growth of the American economy amid inflation concerns. He discusses the resilience of consumers and the challenges ahead. Oliver Morton, Planetary Affairs Editor, reflects on the mixed results of the Peregrine One Moon lander mission and the innovation involved. Moeka Iida explores the modernization of Japan’s geishas, addressing their declining numbers and efforts to maintain cultural significance in a contemporary context.
25:13
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Quick takeaways
- Uncertainty about whether the strong growth in the US economy can continue uninterrupted due to the potential increase in inflation and the need for the Federal Reserve to keep interest rates higher than expected.
- Geishas in Japan are adapting to modernize their trade by adopting new business models, targeting a wider audience, becoming more transparent with pricing, and exploring innovative approaches like crowdfunding and Zoom drinking sessions.
Deep dives
Central banks' concern over inflation and its impact on economic activity
Over the past year, curbing inflation has been a top priority for central banks, including the Federal Reserve in the US. Despite the US economy's surprising growth and falling inflation rates, there is still uncertainty about whether the strong growth can continue uninterrupted. The accumulation of excess savings and slowing inflation have contributed to the resilience of American consumer spending. However, the goods deflation may soon run its course, leading to increased inflation and the need for the Federal Reserve to keep interest rates higher than expected.
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