Economist Podcasts Inflation nation: The Fed raises rates, again
Sep 22, 2022
Simon Rabinovich, U.S. economics editor for The Economist, analyzes the Fed's recent interest rate hikes, weighing their impact on inflation and job markets. He discusses the delicate balance the Fed must strike between controlling inflation and maintaining employment levels. Meanwhile, Anne Rowe shares insights into Frank Drake, a visionary in the search for extraterrestrial intelligence, reflecting on his pioneering work and what it means for humanity's quest to discover life beyond Earth.
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Inflation's Impact
- American consumers face squeezed living standards due to inflation.
- Grocery, dairy, meat, and protein costs have increased significantly.
Transportation Changes
- One person switched to public transport, biking, and carpooling due to inflation.
- They previously used Uber, taxis, and a personal car.
Fed's Rate Hikes
- The Federal Reserve implemented its third consecutive 0.75% interest rate hike.
- This marks the sharpest monetary tightening since the early 1980s.