make their last minute pitches across the state. this is the second in a series of state by state contests with donald trump and nikki haley fighting for their party s presidential nomination. that prize will pit them against the democratic choice in november, almost certainly presidentjoe biden. but with a cost of living crisis hitting many americans what are these two candidates saying about economic policy? dr thomas gift is director of the centre on us politics at university college london good to see you again. when it comes to policy it is hard to find what these two are saying at the moment? it find what these two are saying at the moment? at the moment? it is terrific to talk to at the moment? it is terrific to talk to you at the moment? it is terrific to talk to you as at the moment? it is terrific to talk to you as always. - at the moment? it is terrific i to talk to you as always. there is not a whole lot of discussion in terms of policy about the us economy
because the eurozone s largest economy is now officially in recession. germany has had two consecutive quarters of negative growth. the country s economy contracted by 0.3% between january and march. this follows a contraction of 0.5% in the final three months of 2022. a drop in consumer spending was main cause of germany s disappointing performance in the first quarter, with household consumption falling by 1.2%, as the cost of living crisis continued to cause headaches for millions of people. joining me now is christian schulz deputy chief european economist at citi bank. thank you for being with us. perhaps no great surprise for those who watch those numbers, but it is symbolically important that what was once was a powerhouse economy is now technically in recession. technically in recession. indeed. germany s - technically in recession. indeed. germany s. .. they ve technically in recession. indeed. germany s. .. they ve had - technically in recession. indeed. germ
on the asteroid. i was telling alex before when we were talking about this, when i kept hearing this incredible story yesterday about smashing into the asteroid, come on, what was i thinking. i was thinking aerosmith i don t want to miss a thing, hear the news story i don t want to close my eyes it was incredible. willie, stop him. a sappy summer movie. they tried to do this last night. you got bruce. you throw affleck in there, mika, if you don t know what we re talking about, this was a huge movie 25 years ago, with the plausible plot they trained oil drillers in a matter of days to become nasa astronauts and effectively do what we saw yesterday in real life, they knocked a rocket with a ship the size of a refrigerator, they knocked an asteroid off its course yesterday, nasa did this in real life. no liv tyler, now they know if something is barrelling toward earth, they have a decent chance of knocking it away. scientifically, the movie, i don t think it w
plus the crypto crash deepens. could it spell disaster for el salvador s multi million dollar gamble on bitcoin? we start in the us where the federal reserve has announced the biggest rise in borrowing costs in 28 years. the fed raised its key interest rate by three quarters of a percent and signalled more big increases are on the cards. as our correspondent michelle fleury reports, from washington, it s battling to control the worst inflation in four decades. intensifying its five figure inflation which is currently at a a0 year high reserve raised its key interest rate by three quarters of a percentage point to a range of 1.5 to one and three quarters of a percent, move that will push up borrowing costs for and company. us interest rates haven t been hiked by this much in one go since bill clinton was in the white house in 199a, the size of the mood something federal chair reflected on during his press conference. clearly the 75 basis point is an unusually large one a
Brzeski, global head of macro for ing research. Good to see you. Germany is in favour. Italy is saying it is too hard. Your thoughts . fix, too hard. Your thoughts . Complicated story once again. This is the third or fourth reform of european fiscal rules since the start of the monetary union. What they aim to do is make the rules a bit more flexible to give the more economic sense but in the past we saw the rules were simple but it did not leave enough room for investment in the future. If there was a problem, look back at the euro crisis, applying these rules really meant painful reforms, painful measures and they should not make peoples a bit more flexible and a bit more economic sensible. What can a country s economic sensible. What can a country s Debt Economic sensible. What can a Country S Debt be economic sensible. What can a Country S Debt be at economic sensible. What can a Country S Debt be at according i country s debt be at according to these rules . It seems to be the t