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Annie Gugliotta

Hard Numbers: Russian oil stops flowing, Ghana wants more IMF cash, Iran nuclear deal hopes, vinegar wars

0: That's how much Russian oil is currently flowing through the southern Druzhba pipeline, which transits Ukraine and services the Czech Republic, Hungary, and Slovakia. Although those three EU member states are exempt from the bloc’s ban on Russian oil, Moscow says that EU sanctions made its payments to the Ukrainian operator bounce, so Kyiv shut off the flow on Aug. 4. We are certain there will be more to this story …

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Podcast: Making sense of global inflation, looming recession, & economists who disagree

Listen: Did US inflation come from supply, or did it come from demand? On the GZERO World podcast, Ian Bremmer speaks with economist and University of Chicago professor Austan Goolsbee about the causes of the current high levels of inflation in the US and around the world. If inflation is being driven by too much stimulus, as economists like Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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ECB President Christine Lagarde during a news conference in Frankfurt, Germany.

REUTERS/Wolfgang Rattay

Hard Numbers: ECB hikes rates, US seizes crypto-ransoms, Argentina plays with fire, jet stream breaks up

11: Faced with the highest inflation in the EU’s history, the European Central Bank on Thursday raised interest rates by half a percentage point. It’s the first hike in 11 years, bringing the rate to zero (the ECB had been running negative rates for almost a decade to spur sluggish growth).

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Paige Fusco

The Graphic Truth: Rich countries feel inflation pinch

The international media have been intently focused on the dire inflationary trend in the United States, where inflation recently hit 8.6% — a 40-year high. Indeed, this swing prompted the Federal Reserve to step in this week and implement its largest interest rate hike since 1994. But the US is just one of many advanced economies feeling the burn of sluggish growth and inflation. In fact, several large economies have experienced even bigger rises in inflation over the past year. We compare these numbers for all G7 countries: the US, Germany, France, Italy, Japan, the UK, and Canada.

This comes to you from the Signal newsletter team of GZERO Media. Subscribe for your free daily Signal today.


S3 Episode 4: Is now the time to buy? Real estate dynamics in 2022

Listen: As the global pandemic surged in the US, so too did home sales and home prices. On the flip side of things, commercial real estate took a hit as workers increasingly worked from home. As interest rates rise, we look to see what markets are still hot, which are cooling, and what impact this important sector has on the larger economy.

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S3 Episode 3: Will there be a recession?

Listen: As record inflation meets rising interest rates, we’re examining the role of the US Federal Reserve in protecting the economy from recession in the coming months.

15 years ago the world faced the largest financial crisis since the Great Depression, brought on by a perfect storm of risky lending, mortgage defaults, and failures of financial institutions. In January 2008, the Fed made significant cuts to interest rates to stimulate the economy. Those rates have stayed historically low since then, but that’s rapidly changing.

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An array of currencies.

REUTERS/Jason Lee

What We're Watching: Advanced economies' crucial decision making, Russia’s war and the US economy

How advanced economy decisions can hurt (or help!) emerging markets

As the US and Europe grapple with inflation at levels unseen since “Eye of the Tiger” was a chart-topper, policymakers in emerging and developing markets, which are also facing high prices, are on edge about what the US Fed and other major central banks are going to do next. After all, hiking interest rates in the advanced economies can prompt investors to pull money out of developing and emerging market countries, which often depend heavily on capital inflows from abroad to keep their economies running smoothly.

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S3 Episode 1: If the economy is good, why do I feel so bad?


Listen: Last year the US economy grew 5.7%, the biggest growth rate in decades, yet at the beginning of 2022 fewer than 1 in 5 Americans thought it was strong. And as the world confronts the converging crises of pandemic and war in Ukraine, inflation and skyrocketing prices are further contributing to feelings of financial insecurity.

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