Studies show that basic economic literacy means doing better with money over the long-term. So we invited Bank of England economists, Rupal Patel and Jack Meaning, round to tea to ask them the big questions: - Why does inflation feel higher than it is? - Is raising interest rates the best way to bring inflation down? - Do politicians understand economics? - Should we be optimistic about the UK's future? 🤝 Want 1:1 money help from us? Answer a few questions to find the right service & book free call: https://getmost.typeform.com/pod-episodes 🎉 Sponsors: Get 45% off Blinkist after a 7-day free trial. https://blinkist.com/makingmoney ✉️ Newsletter: If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/ep6. Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00 - 02:30 Intro 03:31 - 10:00 Why become an economist? 10:01 - 15:06 How is inflation measured? 15:07 - 26:26 How the BoE can impact the economy 26:27 - 27:41 Does the BoE consider the human cost? 27:42 - 30:28 How do interest rate decisions actually get made 30:29 - 31:34 Blinkist Ad 31:35 - 36:33 Difference between US and UK 36:34 - 42:03 Quantitative easing (printing money) 42:04 - 44:19 Was Brexit good for the economy? 44:20 - 45:51 Are you optimistic for the UK? 45:52 - 49:29 What do you think about crypto? 49:30 - 52:27 How will we keep growing with an ageing population? 52:28 - 56:07 People aren’t just motivated by money 56:08 - 59:32 Are you good with money? 59:33 - 1:00:07 Outro