Powell to the people: The Fed raises rates

<a href="https://www.economist.com/leaders/2022/06/15/the-fed-and-the-ecb-turn-on-a-dime" rel="noopener noreferrer" target="_blank">America’s central bank </a>raised rates by .75% yesterday—the biggest increase in almost 30 years. Whether that will help tame rising prices without triggering a recession is unclear. The poor performance of Russian tanks in Ukraine has led some to wonder whether <a href="https://www.economist.com/interactive/international/2022/06/15/does-the-tank-have-a-future" rel="noopener noreferrer" target="_blank">the tank itself</a> is obsolete. And the rousing, darkly humorous defiance of <a href="https://www.economist.com/culture/2022/06/08/ukrainian-musicians-have-a-stark-message-for-the-kremlin" rel="noopener noreferrer" target="_blank">Ukrainian war anthems</a>. For full access to print, digital and audio editions of <em>The Economist</em>, subscribe here <a href="http://www.economist.com/intelligenceoffer" rel="noopener noreferrer" target="_blank">www.economist.com/intelligenceoffer</a><hr /><p style="color: grey; font-size: 0.75em;"> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color: grey;" target="_blank">acast.com/privacy</a> for more information.</p>