The wealthiest nations are emerging from the pandemic stronger than anyone thought, nervous about inflation but otherwise feeling they’ve dodged a bullet. That’s not the case for developing countries, with many still overwhelmed by Covid-19 and certainly unable to dole out stimulus checks. 

On this week’s podcast, World Bank Chief Economist Carmen Reinhart tells host Stephanie Flanders why she worries the recent surge in inflation could be around for awhile, hitting the world’s poorest hardest. Next, Rome-based economics reporter Alessandra Migliaccio reveals the surprising reason Italian tomatoes are rotting in the field. And, Sydney-based economics reporter Michael Heath discusses why critics contend Australia, long a melting pot of cultures, has lost its way on immigration.

Rising prices are spooking investors and policymakers as many economies rebound from the pandemic. In the U.S., a broad measure of inflation jumped 5% in May, its biggest annual gain since 2008. Many central bankers argue inflation is a temporary reaction to a rapidly reheating economy, but Reinhart says she isn’t so sure. Covid-19 was a much larger global shock than the 2008 financial crisis, with bank moves to expand the money supply providing a much bigger multiplier effect. Those factors could stoke longer-lasting inflation this time around.

The wealthiest nations are emerging from the pandemic stronger than anyone thought, nervous about inflation but otherwise feeling they’ve dodged a bullet. That’s not the case for developing countries, with many still overwhelmed by Covid-19 and certainly unable to dole out stimulus checks. On this week’s podcast, World Bank Chief Economist Carmen Reinhart tells host Stephanie Flanders why she worries the recent surge in inflation could be around for awhile, hitting the world’s poorest hardest. Next, Rome-based economics reporter Alessandra Migliaccio reveals the surprising reason Italian tomatoes are rotting in the field. And, Sydney-based economics reporter Michael Heath discusses why critics contend Australia, long a melting pot of cultures, has lost its way on immigration.Rising prices are spooking investors and policymakers as many economies rebound from the pandemic. In the U.S., a broad measure of inflation jumped 5% in May, its biggest annual gain since 2008. Many central bankers argue inflation is a temporary reaction to a rapidly reheating economy, but Reinhart says she isn’t so sure. Covid-19 was a much larger global shock than the 2008 financial crisis, with bank moves to expand the money supply providing a much bigger multiplier effect. Those factors could stoke longer-lasting inflation this time around.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Why Inflation May Be Here to Stay, Hurting Poor Nations Most

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2313377b-3235-4523-b08d-ae2b001573a3/transcript

Advertisement