
Economist Podcasts Independence Jay? Inflation and attacks on the Fed
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Jan 14, 2026 Archie Hall, U.S. editor at The Economist, delves into the intricate balancing act of the Federal Reserve amid political pressures and unyielding inflation rates. He highlights the potential risks of losing central-bank independence. Meanwhile, John Peet analyzes the lasting economic toll of Brexit, revealing resilience in the City despite investment setbacks. Catherine Nixey explores how self-help books mirror societal anxieties, advocating for 'unselfing' as a more effective remedy than traditional self-help advice.
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Inflation Near Target But The Last Mile Is Tough
- U.S. inflation is near the Fed's 2% target but the last squeeze from ~2.7% to 2% is proving unusually hard.
- Archie Hall explains tariffs and sticky goods prices help keep headline and core inflation elevated.
Dual Mandate Creates A Policy Tightrope
- The Fed faces a trade-off between slightly-high inflation and a softening labour market.
- Archie Hall says the Fed's dual mandate pulls policy in opposite directions, complicating decisions on cuts.
Powell's Rare Public Rebuke
- Jerome Powell broke routine silence to publicly rebuke the DOJ probe as a threat to Fed independence.
- Archie Hall recounts Powell saying criminal charges would follow if the Fed set rates to please the president.














