The Federal Reserve has lifted its benchmark interest rate by a quarter of a percentage point, Europe’s largest energy traders have called on central banks for help to avert a cash crunch, and the FT’s Tom Mitchell discusses the rising cost of Beijing’s loyalty to Moscow. 

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Mentioned in this podcast:

Fed announces first rate rise since 2018 amid surging inflation

China makes rare intervention to bolster confidence after market rout

The rising cost of China’s friendship with Russia 

Energy traders call for ‘emergency’ central bank intervention

War in Ukraine: free to read 

Twitter Space: China’s involvement in the war in Ukraine 

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber 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.

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