Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't have the money supply on their dashboard," says Steve Hanke, a professor of applied economics at Johns Hopkins University. "The monetary policy revolves around the growth rate and the money supply; that is the key, not interest rates," he tells FRANCE 24.
Also in the programme:
- Charles Pellegrin looks at the UK's tax system and how it compares to other economies.
- And is organic farming inflation-proof – or at least, resistant? Our correspondents in Austria dig into the industry and how it's weathering the cost-of-living crisis.
