Latest from Victoria Craig

• Aug 26, 2022

  Powell’s inflation problem is different from those other central bankers face

  

  From the BBC World Service: As Fed Chair Jay Powell takes to the stage at the Jackson Hole Economic Symposium, anticipation is building that he’ll double down on the U.S. central bank’s commitment to stamp out inflation. Rising prices are a problem all around the world. But economist Dr. Mohamed El-Erian explains the factors driving it are different region to region. Plus, Russia appears to be burning natural gas it could have sent to Europe. And, the French government says energy giant TotalEnergies has questions to answer about reports it’s been indirectly involved in supplying fuel to Russia’s airforce.

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• Aug 25, 2022

  California could put gas cars in the rearview

  

  Officials in the Golden State are expected to approve a plan today that will ban the sale of new gasoline-powered cars by 2035. Auto regulations in California often influence other states to adopt similar rules. Also, we’ll preview the Federal Reserve’s big Jackson Hole Economic Symposium with economist Diane Swonk who will be in attendance. Plus, how China is aiming to boost the country’s economy with stimulus as it’s being hit by a strict zero-COVID policy, heat waves and more. Finally, a look at how your conduct matters when it comes to tort law and amusement parks. It’s some legal context for our “Econ Extra Credit” selection this month, “Class Action Park.”

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• Aug 25, 2022

  Student debt relief is coming, but college is still expensive

  

  The Biden administration has officially rolled out a plan to cancel some student debt for certain individual borrowers. But that doesn’t change the fact that the cost of college tuition is running at record-high levels. We look at why higher education is so expensive. Plus, get your Federal Reserve “bingo cards” ready for the Jackson Hole Economic Symposium, which kicks off today. If you want to know what to watch for in Fed Chair Jerome Powell’s speech planned for tomorrow, we have you covered. And, welcome news for consumers: A handful of retailers have recently announced they’ll be marking down products to try to get them out the door and clear excess inventory they’ve accumulated during the pandemic.

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• Aug 25, 2022

  China throws billions at ailing economy

  

  From the BBC World Service: Chinese officials are putting a total of $146 billion toward measures aimed at propping up an economy hit by severe drought, energy shortages and a strict zero-COVID strategy. Also, French President Macron is in Algeria for a trip aimed at repairing relations between the two nations. He will also likely focus on how the country can help Europe achieve energy security without Russia. And, the war in Ukraine hasn’t just disrupted daily life in that country. We hear how it’s wreaked havoc on the global food supply chain and those who work in it.

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• Aug 24, 2022

  Twitter whistleblower implications go beyond Musk

  

  The whistleblower complaint from a former Twitter security chief alleges that the social media platform doesn’t know exactly how many fake accounts there are. That sounds a lot like one of Elon Musk’s reasons for pulling out of a $44 billion deal to buy the company. But Erik Gordon, a professor at the University of Michigan’s Ross School of Business, says that’s just the start of the potential legal trouble Twitter could face now. Plus, housing sales might be down, but prices aren’t there yet. What does that mean for the fight against inflation? We ask Susan Schmidt, head of U.S. equities at Exchange Capital Resources. Also, how extreme weather caused by climate change is yet another force contributing to inflation, especially in commodities like cotton. And, an update on fundraising money for aid in Ukraine.

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• Aug 24, 2022

  The history of Jackson Hole

  

  Every August, Jackson Hole, Wyoming, becomes the center of the financial world for a few days as central bankers, academics and economists from around the world gather for a symposium. But how did this get to be such a big deal? A teachable moment and a history lesson for you today. Plus, the latest on reports that the Biden administration will make an announcement on federal student loan forgiveness. And, a plan in Washington, D.C., to help first-time homebuyers with low-interest loans at a time when inflation is making down payments more difficult.

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• Aug 24, 2022

  Finding new ways to fundraise for Ukraine

  

  From the BBC World Service: The U.S., which has already sent $10 billion to Ukraine, is expected to announce another $3 billion package, the largest so far. Charities of all shapes and sizes have been doing what they can on the ground, but recently giving has slowed. We caught up again with Ukrainian chef and cookbook author Olia Hercules in her London home to hear about her latest fundraising efforts. And, South Africans are taking to the streets to protest against soaring food and fuel prices, and ongoing power cuts.

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• Aug 23, 2022

  Markets want to believe we’ve hit peak inflation. The Fed might not be so sure.

  

  Markets saw their worst day yesterday since June with traders worried about potentially more interest rate increases to come from the Federal Reserve. We’ll get a better idea of where the Fed is at when Chair Jerome Powell speaks Friday at the Jackson Hole Economic Symposium. Today, we spoke with Stifel chief economist Lindsey Piegza about what might be next in the Fed’s fight against inflation. Plus, the average minimum salary someone is willing to accept for a new job has risen since last year. We get the latest snapshot of the labor market. And, the demand for help from local abortion funds has risen as some states move to restrict or ban abortion.

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• Aug 23, 2022

  Feeling anxious about a potential recession? You’re not alone.

  

  There’s fresh data out on when and if the U.S. economy will see a recession — 72% of economists surveyed by the National Association of Business Economics believe we’ll be in a recession a little less than a year. But all this recession talk weighs on Americans and their mental health. We talked to one therapist and executive coach about why we may be feeling more anxious about the economy this time around. Plus, Ford announced yesterday that it would lay off 3,000 workers to cut costs as the automaker moves more toward electric vehicles. And, we hear about the economics of offshore wind farms in Scotland.

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• Aug 23, 2022

  Key European fertilizer maker suspends more production over high natural gas prices

  

  From the BBC World Service: Poland’s Grupa Azoty is one of Europe’s biggest fertilizer and chemical producers. It’s now suspended fertilizer production and cut back further on manufacturing of other chemicals due to the high natural gas prices. Plus, Scotland’s largest offshore wind farm is now generating electricity and will eventually generate enough power for 1 million homes. And, Japan’s supermarket on wheels is offering a lifeline to older consumers.

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