For the first time in almost two decades, Japan has raised interest rates out of negative territory. The reason? Inflation has finally arrived in the country’s economy.

Today on The Big Take podcast, Bloomberg’s Paul Jackson and host Sarah Holder tackle what the change means for banks, business, and Japan’s economy.

For the first time in almost two decades, Japan has raised interest rates out of negative territory. The reason? Inflation has finally arrived in the country’s economy.
Today on The Big Take podcast, Bloomberg’s Paul Jackson and host Sarah Holder tackle what the change means for banks, business, and Japan’s economy.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Japan Has a New Interest Rate: Zero.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/38753c2c-5944-4abe-91b3-b139016afa5e/transcript

Inflation in the US has cooled from pandemic peaks, but there’s a grocery product telling a different story: beef. The price of uncooked ground beef soared by the most since June 2020 in government data released Friday. The broad beef and veal category is up 15% over the past year as of January.

On today’s Big Take podcast, Bloomberg reporter Enda Curran  takes a peek into the American consumer’s grocery basket with host David Gura to understand the perfect storm of factors that’s setting beef apart. And a fifth-generation Oklahoma rancher reflects on the impact that a fragile market has had on her family business.

Read more:
America’s Vanishing Cattle Herd Drives 15% Price Hikes for Beef
US Cattle Herd Stays at 75-Year Low, Keeping Beef Prices High
A Deadly Parasite’s Return Threatens US Ranchers Too Young to Remember It

Hosted by David Gura; Produced by Rachael Lewis-Krisky and David Fox; Reported by Enda Curran, Ilena Peng; Edited by Aaron Edwards;

Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Alex Sugiura;

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

Inflation in the US has cooled from pandemic peaks, but there&rsquo;s a grocery product telling a different story: beef. The price of uncooked ground beef soared by the most since June 2020 in government data released Friday. The broad beef and veal category is up 15% over the past year as of January.
On today&rsquo;s Big Take podcast, Bloomberg reporter Enda Curran &nbsp;takes a peek into the American consumer&rsquo;s grocery basket with host David Gura to understand the perfect storm of factors that&rsquo;s setting beef apart. And a fifth-generation Oklahoma rancher reflects on the impact that a fragile market has had on her family business.
Read more:
<ul>
<li><a href="https://www.bloomberg.com/news/features/2026-02-14/beef-prices-are-rising-more-than-inflation-this-year-with-no-relief-seen">America&rsquo;s Vanishing Cattle Herd Drives 15% Price Hikes for Beef</a></li>
<li><a href="https://www.bloomberg.com/news/articles/2026-01-30/us-cattle-herd-stays-at-75-year-low-keeping-beef-prices-high?srnd=undefined">US Cattle Herd Stays at 75-Year Low, Keeping Beef Prices High</a></li>
<li><a href="https://www.bloomberg.com/news/features/2025-05-02/deadly-screwworm-parasite-s-comeback-threatens-texas-cattle-us-beef-supply">A Deadly Parasite&rsquo;s Return Threatens US Ranchers Too Young to Remember It</a></li>
</ul>
Hosted by David Gura; Produced by Rachael Lewis-Krisky and David Fox; Reported by Enda Curran, Ilena Peng; Edited by Aaron Edwards;
Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Alex Sugiura;
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

Why Beef Is Getting So Pricey

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5660985a-9026-438c-883b-b3f40165798f/transcript

In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China’s Ministry of State Security recruits experts in the West — and why intelligence officers shouldn’t keep their secrets backed up to the cloud.

In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China&rsquo;s Ministry of State Security recruits experts in the West &mdash; and why intelligence officers shouldn&rsquo;t keep their secrets backed up to the cloud.

The Sixth Bureau, Episode 2: The Spy’s Diary

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/05b0e56a-e45c-47d5-bc34-b3f0004e16c4/transcript

It’s an open secret that the Chinese government has engaged in a global campaign to acquire intellectual property from foreign rivals. At the center of that campaign is the Ministry of State Security, China’s elusive intelligence agency. The US has apprehended hundreds of people accused of giving information to the MSS, but the agency’s inner workings have been a mystery — until now.

Today, we’re bringing you Episode 1 of The Sixth Bureau, a limited-run series from The Big Take. The series follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.

The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. The limited-run series will publish on Fridays in The Big Take. 

It&rsquo;s an open secret that the Chinese government has engaged in a global campaign to acquire intellectual property from foreign rivals. At the center of that campaign is the Ministry of State Security, China&rsquo;s elusive intelligence agency. The US has apprehended hundreds of people accused of giving information to the MSS, but the agency&rsquo;s inner workings have been a mystery &mdash; until now.
Today, we&rsquo;re bringing you Episode 1 of The Sixth Bureau, a limited-run series from The Big Take. The series follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness &mdash; and a cunning FBI sting &mdash; led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.
The Sixth Bureau&nbsp;is the story of superpowers, their secrets and how one Chinese spy got caught. The limited-run series will publish on Fridays in The Big Take.&nbsp;

The Sixth Bureau, Episode 1: Your Friend From Nanjing

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/37243ecd-d65c-4551-8b5b-b3ef016b2a67/transcript

Japan Has a New Interest Rate: Zero.

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