Fed hikes rates, but next steps are uncertain

US interest rates are going up by 0.75% for the second month in a row, the drama surrounding Elon Musk’s halted Twitter takeover debacle is hurting the social media company’s advertising business and employee morale, and European gas prices are rising as Russia cuts gas flows to the continent.

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Mentioned in this podcast:

Fed raises rates by 0.75 points for second month in a row

Twitter ‘rudderless’ as Musk saga hurts advertising business

Gas crisis raises recession risk for inflation-hit eurozone economy

European gas price rise accelerates as Russia cuts flows

Australia’s oversupply of avocados forces farmers to look to Asia and UK for sales

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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