Chairman of the New York Fed William Dudley has spoken out saying his Federal Reserve needs to be especially careful about real estate at the dicey moment when interest rates start going up as a result of their stimulus cutbacks. To help us with this, we turn to Philip Swagel an economist at the University of Maryland who used to work at the Fed and the White House.
And from our broadcast in London this week, we visit London’s Borough Market, where’s there’s been food for sale for an even one-thousand years.
Plus, some good news for London this week: the British capital came top in Price Waterhouse Cooper’s sixth annual league table of international cities. London was rated the world’s foremost “economic powerhouse and centre for culture, education and innovation.” The accolade should go some way to soothe this city’s wounded pride: London recently lost its number one slot in the prestigious Global Financial Centre Index.