globally, it won t do very much. nevertheless, there is an argument for. we see very weak economic growth actually, so pressing the accelerator has not worked. we have not had the growth that we have had in previous decades. it also causes other destructions in the economy. if you have cheap credit, it pumps up if you have cheap credit, it pumps up as it prices, and that is why you have the unaffordability for young people of houses getting worse and worse. it also redistributes wealth upwards when you pump up asset prices, to those who do. site attempts to support this economy through superlow interest rates in recent years. brute through superlow interest rates in recent years - recent years. we will have the u date recent years. we will have the update the taiwan s defence ministry says china has fired multiple ballistic missiles during a set of military exercises in the air and sea encircling taiwan. beijing launched the drills in response to a visit
months on end? will that cause western unity to flag? if that happens, one can only expect there will be many, many more people spirited out of ukraine and into parts of russia. spirited out of ukraine and into parts of russia. exactly, as ned icked parts of russia. exactly, as ned picked up. parts of russia. exactly, as ned picked up, steve, parts of russia. exactly, as ned picked up, steve, you ve - parts of russia. exactly, as ned | picked up, steve, you ve got one sentence trip speak about this, but borisjohnson sentence trip speak about this, but boris johnson described sentence trip speak about this, but borisjohnson described the concerns about fatigue when it comes to this war. , . , about fatigue when it comes to this war. , ., , . war. yes, and it will be reflected not ust war. yes, and it will be reflected notiust in war. yes, and it will be reflected not just in leaders war. yes, and it will be reflected not just in leaders but war. yes, and it will be reflected
clearly the windfall tax, the government was sober, having gone on for some time about how it was an awful and conservative idea, and actually they concluded the optics were so bad, these companies look as though they are cashing in while consumers were really struggling. there are other things they can look at, fracking often comes up. but lots of the solutions, part of the reason you haven t happened yet is because there are political problem, and it is not clear that fracking must have parliamentary support even now. , , ., , must have parliamentary support even now, , ., , now. just on this meeting next week in saudi arabia. now. just on this meeting next week in saudi arabia. obviously now. just on this meeting next week in saudi arabia. obviously the - now. just on this meeting next week in saudi arabia. obviously the opec| in saudi arabia. obviously the opec countries have said that they don t need to increase output. how critical it is admitting to the prices that we are fa
is he confident they can get it through right? further dampen inflation. are we going to hear anything from the meeting? sandra: can we hear anything from that meeting, will he be on camera? i do not know what the press plan is. i think a meeting like that is normally kept close hold so they can have a frank discussion, and i think it s good that when a president respects the federal reserve chairman it s easier to make a discussion. he knows the president will not cross any boundaries or seek to intimidate them. president biden has made that clear, he respects the independence. he s made clear inflation is his number one priority, bringing down it prices and costs for families is their number one priority, and i think that is, shows, you know, an unusual and unfortunately too infrequent degree of leadership respect of
transporting goods will contain to become more costly. logistics companies are facing a situation where they cannot actually provide these frequent services because of this cost of fuel and they having to make up for these increased costs and this comes back to rice s being matched by the consumer. another point to add as we have seen governments kind of react to this energy crunch, european commission publishing a new proposal at the end of last week looking to commit 300 billion euros to a green investment and ultimately this is to reduce this dependency on russian energy imports but crucially this will be by 2027 and if we are looking for kind of short term immediate solutions, we are still likely to see this kind of immediate hike in prices in the coming weeks and months. it prices in the coming weeks and months. , ., . ., . prices in the coming weeks and months. , ., . ., months. it is all interconnected and complicated months. it is all interconnected and complicated but mont