US tariffs have sent financial markets into a frenzy in recent weeks, but how much should central bankers be taking trade into account when setting monetary policy? To find out, Soumaya Keynes sits down with Bank of England Monetary Policy Committee member Swati Dhingra – one of the committee’s more dovish members. They discuss why the UK’s open economy makes it more vulnerable to trade shocks, what Dhingra saw in the data that her MPC colleagues didn’t, and why she didn’t vote for an (even) sharper rate cut earlier this month.Further reading:Two BoE policymakers warn against rushing to further cut interest ratesBank of England vote split hits hopes for faster interest rate cutsBrexit lessons for Trump’s trade warSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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Bonus: Globalisation can be slowed, but not stopped
Donald Trump’s trade policies have put global markets through the mill in recent weeks. But his policies didn’t come from nowhere. Aspects of US protectionism preceded Trump’s second term – and countries across the world have been pushing for greater self-sufficiency for some time. Is this drive for greater self-sufficiency misguided? Is true self-sufficiency even possible? Or might the secret to economic security come from more co-operation, not less? The FT’s senior business writer Andrew Hill sits down with Ben Chu to discuss the findings from his new book: "Exile Economics: What Happens if Globalisation Fails." Chu is the policy and analysis correspondent at BBC Verify and was previously the economics editor of BBC Newsnight.For further reading:The old global economic order is deadBritain’s trade deal with Trump may not be good news for the worldTariffs are a bet on the free market rather than free tradeThe business lessons to draw from Trump’s dealmakingSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Andrew Hill. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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Bill Gates: how international development can survive the Trump presidency
Over the past 25 years, the Gates foundation has given away more than $100bn. Much of that money has gone to healthcare and education projects outside the US – and the organisation plans to give $200bn more to various programmes in the next twenty years. But as Elon Musk and Doge feed USAID, a key partner of the foundation, “into the wood chipper,” how can Bill Gates press ahead? The FT’s Africa editor, David Pilling, speaks to Gates about running an apolitical, philanthropic entity in a politically challenging time.Read more:Bill Gates is giving away $200bn. Can his plans survive in the Trump era?Bill Gates accuses Elon Musk of ‘killing’ children with USAID cutsElon Musk’s painful departureSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by David Pilling. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Original music and sound design by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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Martin Wolf talks to Kenneth Rogoff: Trump is accelerating the dollar’s decline
The US dollar has been in slow decline for around a decade – so says Kenneth Rogoff, Harvard professor, and former chief economist of the IMF. Donald Trump’s trade policies have raised a lot of questions about the future of the dollar – and how its decline could affect the rest of the world’s currencies. Rogoff joins Martin Wolf to discuss how the decline of the dollar could empower China, capital flight from the US, and why cryptocurrency is a bigger threat to dollar hegemony than most people realise.Martin Wolf is chief economics commentator at the Financial Times. You can find his column here: https://www.ft.com/martin-wolf Subscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Martin Wolf. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner. The FT’s head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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Should we be optimistic about the US economy? With Michael Strain
Almost a month since ‘liberation day’, the potential impacts of President Donald Trump’s tariff regime are starting to sink in. US hard data isn’t yet showing much negative impact from changes to US trade policy – but economists are gloomy on US growth prospects. The IMF last week warned of an increased risk of US recession, and lopped nearly a full percentage point off its forecast for US growth this year. Michael Strain, director of economic policy studies at the conservative American Enterprise Institute, joins FT economics editor Sam Fleming to discuss how Trump’s tariff agenda may play out, which forces could force the president to change tack, and what that might look like.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
The Economics Show with Soumaya Keynes is a new weekly podcast from the Financial Times packed full of smart, digestible analysis and incisive conversation. Soumaya Keynes digs deep into the hottest topics in economics along with a cast of FT colleagues and special guests. Come for the big ideas, stay for the nerdery.Soumaya Keynes is an economics columnist for the Financial Times. Prior to joining the FT she worked at The Economist for eight years as a staff writer, where as well as covering trade, the US economy and the UK economy she co-hosted the Money Talks podcast. She also co-founded the Trade Talks podcast. Hosted on Acast. See acast.com/privacy for more information.
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