going to be the case. we think the fed defines a moment to pause and then the question is how high, but turns into how long, and we still have these long, and we still have these long and variable lag effects, it will take another four or five months for all the effects of these interest rates to work their way through the economy, and i think we are probably not looking at a pivot until sometime next year. let s get another view. chris campbell is former assistant us treasury secretary, and now chief policy strategist at the risk management firm kroll. nice to see you again. so you have obviously looked at the minutes as well. what was your takeaway? i minutes as well. what was your takeaway? takeaway? i largely agree with our last takeaway? i largely agree with your last lead-in. takeaway? i largely agree with your last lead-in. the - takeaway? i largely agree with your last lead-in. the fed - takeaway? i largely agree with your last lead-in. the fed is l your last lead in. the fe
washington post. thanks for joining us today. the inflation numbers illustrate why the fed has been cranking up interest rates. the fed was late to this game. now some are worrying it might be over correcting. that s exactly right. after the fed had been really dragging its heels on clamping down on inflation by rising interest rates and trying to slow down the economy, they re now being hit with the opposite criticism, and that really has to do with the fact we are moving at the most aggressive pace in decades but the full scope of what they re doing isn t going to hit for months. there are these lag effects associated with massive rate hikes that could really all come to a head sometime next year or later this year. in the fed s last meeting they expressed concern from inflation. inflation had not yet responded appreciably to policy tightening and a significant reduction in inflation would likely lag that. when will monetary policy start showing up in these numbers? that is rea
le pen has concentrated on the cost of living crunch here, retirement age and other economic issues apart from immigration. it is interesting, also, that when you look at what perhaps traditionally we would have considered the traditional battleground in france between left and right, that has now gone. it is, as emmanuel macron would describe it, the practical progressives that he represents against the extremes in france. we can now speak to alexander of nsp polling who can help unravel some of this for us. let s just look at the latest polls here and what it suggests about that comeback by marine le pen who has done a makeoverfor comeback by marine le pen who has done a makeover for her party. comeback by marine le pen who has done a makeoverfor her party. might back as you said, there was a big surge for emmanuel macron with the start of ukraine while was surge for emmanuel macron with the start of ukraine while start of ukraine while was a valley around the start of ukraine whi
there are those that are wondering why he hasn t taken many of the steps that military experts, i don t claim to be one, but have suggested. and he s trying to, you know, play it in between those two places. on the one hand he doesn t want panic. on the other hand, he doesn t want to be unprepared. i think the challenge he faces is if there is military intervention, there s no doubt in my mind that his critics will then say, well, why didn t you do more to protect us? there will be some rallying around the flag effects, but there will also be why wasn t he ready to do this? and i just want to remind all your viewers, president zelensky is you know, he s rather new to politics. he was a television figure, a personality, had a very famous television show, famous in russia, too, by the way. the other old time critics, and, remember, ukraine s a democracy with lots of different parties, lots of different positions. i am confident in predicting