Hello and welcome to the Intelligence from the Economist.

In New York, I'm John Fassman.

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

In 1981, Mauritania banned force labor.

Officially, slavery was illegal in every country in the world.

In reality, however, the practice never fully ended, and in new reports suggest, sadly,

that forced labor and marriage are growing more common.

And Frank Drake spent decades searching for extraterrestrial life.

Not finding it did little to blunt his confidence that it existed.

Our obituries added to reflect on why his belief remained unshaken.

Just up though.

Central banks in many countries are grappling with high rates of inflation.

In America, consumers are seeing their living standards squeezed.

Your grocery items, the cost of dairy, meats, proteins have gone up.

Originally, I would use Uber and a taxi to get around.

I would have my own car at times, but because of the inflation, I would tend to use public

transportation, ride my bike, or get a ride from a friend or family member more frequently.

America's Central Bank, the Federal Reserve, has vowed to do whatever is necessary to bring

rising prices under control.

But soaring inflation continues to test the bank's resolve.

After two large, three quarter percentage point increases in the Fed's interest rate

over the summer.

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