A treacherous descent? What will the Fed do next?

This podcast episode explores the analogy of interest rates as a mountain, with the chief economist of the Bank of England comparing rates to Table Mountain. The episode discusses the risks faced by central banks in continuing to raise rates and the challenges of reversing course. It also examines the challenges faced by central bankers in raising and lowering rates, highlighting the difficulties faced by Fed Chair Jerome Powell. The episode concludes with a discussion of Powell's legacy and the potential consequences of his decisions.