US Inflation Surprise, Towers of Debt & Russia's Migrant Workers

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts. (2) The global bond rally that started in December with the hope that the Federal Reserve had finally pivoted to favor interest-rate cuts has evaporated. (3) UK inflation data will likely show that both the headline and services figures accelerated in January. (4) Russia is relying on thousands of workers from neighboring countries to undertake the multi-billion-dollar reconstruction in the occupied territories of Ukraine. (5) Since the Covid-19 pandemic upended the use of real estate around the world, lenders have had little incentive to get tough on borrowers squeezed by soaring interest rates and take on loans that had lost value. For many, the time to wait it out is nearing its end. (6) Less than an hour after issuing its earnings, Lyft Chief Financial Officer Erin Brewer joined a call with analysts and said the company is actually expecting margins to expand by 50 basis points — not 500. See omnystudio.com/listener for privacy information.