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Austrian Chancellor Nehammer's Meeting with Putin: No Optimism | World In :60 | GZERO Media

No optimism after Austrian leader’s meeting with Putin on Ukraine

After Austrian Chancellor Nehammer's meeting with Putin, will more peace talks become possible? Is Shanghai's lockdown a humanitarian crisis? With the US inflation rate rising to 8.5%, what will happen if imposing further sanctions against Russia? Ian Bremmer shares his insights on global politics this week on World In :60.

After Austrian Chancellor Nehammer's meeting with Putin, will more peace talks become possible?

Was the first time a foreign leader from Europe actually met Putin in person in the seven weeks since the war has occurred. Did not go anywhere, no optimism, lots of war crimes, and the Russians are sending more troops into the Donbas as we speak. It seems pretty clear that Putin intends to declare victory. And before that happens, it is hard to imagine any utility of further negotiations. Doesn't mean you can't try. But I think we have to wait, frankly, until the military situation on the ground plays out more fully and then perhaps we might be able to get some form of frozen conflict or ceasefire. That's kind of where we are right now.

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Larry Summers: Rising Inflation Makes Society Feel "Out of Control” | GZERO World

Larry Summers: Rising inflation makes society feel "out of control”

The economic consequences of high inflation are already bad enough.

But for Larry Summers, sometimes the psychological trauma that comes with it can do even more damage to a society.

"A society where inflation is accelerating is a society that feels out of control."

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Ian Bremmer Explains: How Did We Get to Today's Supply Chain Mess? | GZERO World

How did we get to today's supply chain mess?

The supply chain mess is hitting all of us. Inflation is now the highest it's been in over 30 years.

The costs of food, gas and housing are going through the roof. What's more, almost everything made outside of America is now in short supply — like semiconductors for our cars.

Why is this happening? A lot of it has to do with the pandemic. Asian factories had to shut down or thought there would be less demand for their stuff. So did shipping companies. But then online shopping surged, and now there's a lot of pent-up demand to spend all the cash we saved during COVID.

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Biden Sticks With Powell As Fed Chair Amid Rising Inflation | US Politics In :60 | GZERO Media

Biden sticks with Powell as Fed Chair amid rising inflation

Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, shares insights on US politics:

Why did President Biden renominate Jay Powell to be the chairman of the Fed, and who's his No.2, Lael Brainard?

Well, Powell by all accounts has done a pretty good job of managing the Fed through the coronavirus pandemic. He dusted off the playbook, first pioneered by Chairman Bernanke during the financial crisis, and he's largely continued the relatively easy monetary policy of his predecessor at the Fed, now Treasury Secretary, Janet Yellen. With inflation growing the way it has over the last several months, Biden now owns the policies of the Fed and is essentially endorsing what Powell has been doing and giving Powell the political cover to continue to keep rates low for longer, or as many people expect, raise them slightly over the next 12 months in order to fight inflation.

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How Economist Larry Summers Predicted US Inflation | GZERO World

How economist Larry Summers predicted US inflation

Back in February, Larry Summers was sounding the alarm bell about inflation when no one was talking about it.

"It seemed obvious to me that we were gonna have massive demand, and we weren't gonna have such large supply."

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Inflation Nation: What’s Driving US Prices Higher? | Economist Larry Summers | GZERO World

Inflation nation: What’s driving US prices higher?

As the holiday shopping season gets underway, consumers are facing empty shelves and sky-high prices. What explains the supply chain crunch and how is it related to the highest levels of inflation in the US in 30 years? Ian Bremmer is joined by economist Larry Summers, who served as the Treasury Secretary under President Clinton and as the Director of the National Economic Council under Barack Obama. Also on this episode of GZERO World with Ian Bremmer: the plight of the lowly shipping container.

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Inflation Panicking Is 1970s Hangover, Says Economic Historian Adam Tooze | GZERO World

Inflation panicking is 1970s hangover, says economic historian Adam Tooze

Why are so many people panicking about rising inflation these days? For economic historian Adam Tooze, it's "sort of undigested legacy of the trauma of the 1970s," the last time the US and Western Europe experienced high-sky inflation, and we're still "working off the hangover from 50 years ago." Watch his interview with Ian Bremmer on the latest episode of GZERO World.

Watch this episode of GZERO World with Ian Bremmer: How the COVID-damaged economy surprised Adam Tooze

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