United states and around the world. Im Fareed Zakaria coming to you from new well start todays program with two of the worlds critical hot first, ukraine, where president zelenskyy admitted this week that the counteroffensive is difficult as western officials tell cnn that further decisive progress by kyiv is highly unlikely. So where does the war go from here . Then to niger where a Military Ju Junta Launcheded A Coup three days ago. That makes for a sixcountry belt of coups spanning 3,500 miles right across the african continent. Well tell you what you need to know about the startling trend. Also, are you amazed by the power of Artificial Intelligence . Well, wait until you hear about Quantum Computing. It will make todays a. I. Look like childs play. I talked to the famous physicist miccio kaku about what he sees as the real gamechanger. But first, heres my take. In only may 2023, it seemed obvious that the United States was going to face an unmanageable Border Crisis in the Previou
the first part is that in 2020 and 2021 the government gave people $5 trillion. they didn t go out and spend all that money right away. in fact, it was hard to spend a lot of this money in those years and so some of that money got spent in 2022. some of it is still being spent now and you see that in the very strong consumer spending numbers. the second thing is that russian invasion of ukraine is still just absolutely horrific, but in terms of the economic data, the price of oil is back to where it was before there was any concern about the invasion. it s basically that particular issue has gone away and then the third thing is the fed has raised rates a lot. it raised them by more than five percentage points, but rates still aren t that high in the grand scheme of history. so maybe monetary policy wasn t as contraction aeary and negati