Fatima, from Guinea-Bissau, wakes up in the early hours of the morning to be in with a chance of being able to use the bathroom at her small house in Stratford, east London, which she shares with nine strangers – some are Italian, she thinks, and some might be eastern European, but nobody socialises as they are all too busy working, so she can’t really be sure.
Debates about inflation in advanced economies have changed remarkably over the past decades. Setting aside (mis)measurement issues, concerns about debilitatingly high inflation and the excessive power of bond markets are long gone, and the worry now is that excessively low inflation may hinder growth.
Alongside the results of last week’s US midterms came the passing of San Francisco’s Proposition C, a measure that will tax firms with an annual turnover of more than $50m (£44m) to raise an estimated $300m extra a year to help address homelessness. Last Tuesday, 60% of voters backed it: though the proposal is now snarled up in a constitutional dispute, its approval marks a big moment for a city whose housing crisis has become a matter of urgency.