Two stories about the effects of inflation on the economy. We meet a gig worker who's seen an increase in wages, but because of inflation, how much of that increase in earnings is an illusion? Then, we break down how the Federal Reserve is planning to fight inflation.
ricochet ~을 스치고 나아가다, ~을 맞고 튕겨나오다
Goldilocks zone 생명체가 거주가능한 영역, 뜨겁지도 않고 차갑지도 않은 딱 적당한 온도를 지닌 곳
tailspin 폭락, 급감
tip into ~쪽으로 기울어지다
reputation 평판, 명성
straw poll 비공식적으로 여러사람을 대상으로한 여론조사
recoup 되찾다, 회복시키다
inflationary spirals 인플레이션 악순환
ratchet up 단계적으로 증가시키다
Controlling inflation is really up to the Federal Reserve.
That's a decision that the Fed made at the start of the pandemic to help businesses borrow more cheaply and to hire more workers.
These higher interest rates are meant to slow down the economy.
The Fed reduces inflation by raising interest rates - basically, by making the cost of borrowing higher, which leads to less spending in the economy, businesses don't expand or hire as much, wages don't grow as fast. And all this economic pain is aimed at reducing pressure on businesses to raise prices.
It seems like all pretty negative news.
That's exactly what the Fed is trying to do right now.
And once those wages start ratcheting up, that's when the Fed particularly gets concerned.