The Intelligence: Fed reckoning

<p>America’s central bank left rates untouched, to widespread market delight. Why is this economic cycle confounding expectations so much, and how to bring it to a <a href="https://www.economist.com/finance-and-economics/2024/03/20/why-america-cant-escape-inflation-worries?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=theintelligence&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">gentle end</a>? We look at the modern fortunes of Vodafone, a once-mighty telecoms firm that is <a href="https://www.economist.com/britain/2024/03/07/vodafone-tries-to-slim-its-way-back-to-health?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=theintelligence&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">slimming down</a> to get healthier (11:21). And why Britain’s system for protecting its historic buildings from change…<a href="https://www.economist.com/britain/2024/03/11/englands-historic-buildings-are-causing-headaches?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=theintelligence&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">needs to change</a> (16:10).</p><br /><p><em>Please take a moment to respond to our </em><a href="https://survey.alchemer.eu/s3/90681681/" rel="noopener noreferrer" target="_blank"><em>listener survey</em></a><em>.</em></p><br /><p><em>Listen to what matters most, from global politics and business to science and technology—</em><a href="https://subscribenow.economist.com/podcasts-plus" rel="noopener noreferrer" target="_blank"><em>subscribe to Economist Podcasts+</em></a><em>. For more information about how to access Economist Podcasts+, please visit our </em><a href="https://myaccount.economist.com/s/article/What-is-Economist-Podcasts" rel="noopener noreferrer" target="_blank"><em>FAQs page</em></a><em> or watch </em><a href="https://www.youtube.com/watch?v=48TlDbL-4vU" rel="noopener noreferrer" target="_blank"><em>our video</em></a><em> explaining how to link your account.</em></p><br /><p><em>Podcast transcripts are available upon request at podcasts@economist.com. We are committed to improving accessibility even further and are exploring new ways to expand our podcast-transcript offering.</em></p><p><br /></p><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>