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Decades-high inflation gets a decades-high rate hike

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Fed Chair Jerome Powell leaves a press conference and walks past a flag for the Federal Reserve Board of Governors.

US Federal Reserve Chair Jerome Powell departs after speaking at a news conference on interest rates, the economy and monetary policy actions, at the Federal Reserve Building in Washington, DC, June 15, 2022. - The Federal Reserve announced the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points on June 15 as it battles against surging inflation. The Fed's policy-setting Federal Open Market Committee reaffirmed that it remains "strongly committed to returning inflation to its 2 percent objective" and expects to continue to raise the key rate. (Photo by Olivier DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images) Olivier Douliery/AFP via Getty Images

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Segments From this episode

The Fed ups the ante

The Fed hiked its key interest rate by three-quarters of a percentage point. Today, we dig into the implications of that historic move.

Retail sales dip may be lined with silver

by Sabri Ben-Achour Jun 15, 2022
The slight decline from April to May could indicate a slowing economy — which the Federal Reserve is hoping for.

How do we calculate supply and demand for oil heading into the future?

by Andy Uhler Jun 15, 2022
There are a lot of variables that make predicting energy demand in 2023 difficult, including rising interest rates, inflation and potential COVID flare-ups.

When you need 70,000 pounds of paper a month and the supply chain is in chaos

by Kai Ryssdal and Anais Amin Jun 15, 2022
Claudia Smukler of Mother Jones explains the unique obstacles to producing a print magazine in this economy.

Department of Education appoints its first chief economist

by Stephanie Hughes Jun 15, 2022
The agency said it’s part of bringing a more data-based approach to policymaking.

U.K. weighs whether to restore its old system of imperial measurements

by Stephen Beard Jun 15, 2022
The prime minister pledged to make the use of pounds and ounces official again after Brexit. We checked sentiment at Shrewsbury Market.

After a career pivot, one woman is balancing teaching, law school and motherhood

by Andie Corban Jun 15, 2022
Catherine Fink of Colorado said this was the year she felt "most frazzled, just in terms of having to be basically at three full-time jobs."

Music from the episode

Baghdad Sun Apollo Brown
Brokenfolks Georgia Anne Muldrow
All The Stars (with SZA) Kendrick Lamar, SZA
Respiration Black Star, Common
Ego Beyoncé
Back To You Selena Gomez

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