Ones & Tooze: The Fed Interest Rate Hike

It has been a rocky week for the U.S. economy, with record high inflation reports and the Federal Reserve increasing benchmark interest rates by three-quarters of a percentage point. This is the steepest hike in close to thirty years. In this episode, Adam and Cam make sense of this spike and ponder what the Biden administration should do to curb inflation – if anything. 

Later on, they set their eyes on Colombia, which has a presidential election on Sunday. For the first time ever in Colombia, one of the two leading candidates, Gustavo Petro, is left-wing. Adam and Cam analyze why right-wing economics has been such a large part of Colombian history and what Petro’s proposed policies could do for the country.

Find more episodes and subscribe at Foreign Policy