Drop it when it’s hot: the Fed’s consequential hint

<p>The merest mention of future interest-rate rises from America’s central bank sent markets into <a href="https://www.economist.com/finance-and-economics/2021/06/20/global-markets-adapt-to-a-change-in-the-federal-reserves-tone?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">a tizzy</a>. We consider the merits and the effects of signalling early and often. Europe’s drug use dipped when the pandemic began, but <a href="https://www.economist.com/europe/2021/06/10/europes-drug-habit-proves-immune-to-covid-19?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">soon rebounded</a>; we examine the rising potency of the continent’s drugs and drug syndicates. And data <a href="https://www.economist.com/business/2021/06/10/remote-workers-work-longer-not-more-efficiently?utm_campaign=the-intelligence&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">reveal</a> what makes work-from-home productivity so low.</p><p>For full access to print, digital and audio editions of <em>The Economist</em>, subscribe here <a href="http://www.economist.com/intelligenceoffer" rel="noopener noreferrer" target="_blank">www.economist.com/intelligenceoffer</a></p> &#10;&nbsp;<br /><hr><p style='color: grey; font - size: 0.75em; '>See <a style='color: grey; ' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>