You expecting . I think there will be a rate rise and everyone you expecting . I think there will be a rate rise and everyone is a rate rise and everyone is expecting 0. 25 from the bank today. The challenge it has is that its looking at what inflation has already done and we know Interest Rate rises take quite a while to filter through. Rate rises take quite a while to filterthrough. Is rate rises take quite a while to filter through. Is any danger here that rates go too high and therefore strangle the economic recovery . There is always a risk when putting Interest Rates up, its a really hard job to do. To know that when youre putting your foot on the accelerator that is going to do the right thing because there are lots of lags in how long it takes. In general, you get the sense of the Bank Of England and the message, they are more concerned about doing nothing, they feel that they can dial back on that a little bit more than letting inflation continue to persist. Obviously, the ris
wage groups and the price of services. all of those, since their last interest rate rise has been some positive news. unemployment is slightly up, it s terrible to say thatis slightly up, it s terrible to say that is positive news but it means a labour market is slightly less tight, which means there is less pressure on bringing rages up wages up. domestically, there is some good news going on. in wages up. domestically, there is some good news going on. in the uk, we know inflation some good news going on. in the uk, we know inflation is some good news going on. in the uk, we know inflation is coming some good news going on. in the uk, we know inflation is coming down - we know inflation is coming down more quickly elsewhere. we are still talking about them going up? partly, a lot of that is talking about them going up? partly, a lot of that is to talking about them going up? partly, a lot of that is to do talking about them going up? partly, a lot of that is to do with
than $2 per person per day. has that been exacerbated in the last two to three decades as wage stagnation and declining membership in union and all sorts of other things that used to be institutions that protected the working poor and the working middle class? as those have declined, their power has declined. have the levels of extreme poverty gone up? so it s kind of interesting in the united states. when you look at the basic federal poverty line, which is 11,000 or $12,000 for a person over the course of a year, you ve seen a great expansion of poverty through the recession. and it really hasn t come down. but you know, in the united states, there s kind of a floor that we set. there s a safety net that exists here because the economy is so developed. and so, yes, you ve seen this dramatic increase in poverty. a lot of it has to do with the fact that wage groups have been so terrible at the bottom and the fact that you ve seen such great returns to things like higher education, if