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The Intelligence from The Economist

Getting more interesting: the Fed raises rates

The Intelligence from The Economist

The Economist

Global News, Daily News, News

4.53.7K Ratings

🗓️ 28 July 2022

⏱️ 26 minutes

🧾️ Download transcript

Summary

America’s central bank has raised interest rates by three-quarters of a percentage point—its fourth rise this year. It is walking a fine line between cooling the economy and tipping the country into recession. Scientific results fundamental to more than a decade’s-worth of Alzheimer’s research may have been fabricated. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer

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Transcript

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0:00.0

Hello and welcome to the intelligence from the economist.

0:07.1

In New York, I'm John Fassman.

0:09.6

And in London, I'm Jason Palmer.

0:11.8

Every weekday, we provide a fresh perspective on the events shaping your world.

0:18.2

Sixteen years ago, a scientific journal published a landmark paper on the causes of Alzheimer's

0:23.5

disease.

0:24.5

Recently, however, a neurologist analyzed images from that paper and found signs suggesting

0:29.6

its results may have been fabricated.

0:34.5

And it's just a cork of biology that women have a higher tendency toward obesity than

0:39.3

men do.

0:40.3

And global numbers show it.

0:41.8

But in one region, the difference between the two is noticeably larger.

0:55.9

Next up, though, after having been accused for months of failing to counter inflation,

1:04.6

America's Federal Reserve has been aggressively raising interest rates through the spring

1:08.2

and summer.

1:09.6

It did so again yesterday with a 3.25% rise as data for June showed inflation continues

1:15.9

to rise above expectations.

1:18.8

The central bank's chair, Jerome Powell, wants to engineer a soft landing for the economy.

1:23.6

We're trying not to make a mistake.

1:25.6

We do see that there are two-sided risks.

1:28.2

There would be the risk of doing too much and imposing more of a downturn on the economy

1:32.8

than was necessary.

...

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