Powell’s points presentation: the Fed raises rates

Prices in America are rising faster than at any time in the past 40 years. In response, the Federal Reserve has made its steepest interest-rate hike in 20 years. Will it be enough to tame inflation while not tipping America into recession? Shanghai’s residents are growing restive after a long lockdown. And Nelson Mandela’s name and legacy are being used to sell a growing range of consumer goods.