<p>In the wake of Donald Trump’s ‘Liberation Day’, Ed Balls and George Osborne break down the economic thinking – or lack thereof –&nbsp;behind President’s tariffs. Rather than the numbers emerging from complicated analysis, Ed explains how they are merely reached through a simple formula. Will the Federal Reserve be able to cut interest rates as quickly as Trump would like in the wake of his tariffs?&nbsp;&nbsp;</p><br><p>Back home, Keir Starmer is calling for calm and resisting a push to reciprocate, as he seeks to strike an ‘economic prosperity deal’ with the US. Is a wider security concern at play here?</p><br><p>And on the other side of the globe, Australians are preparing for a federal election, called by Prime Minister Anthony Albanese for May 3rd. It’s currently looking like a neck and neck contest. Peter Dutton, his Liberal Party opponent, has previously made Elon Musk-like noises, creating his very own shadow ministry for government efficiency… But at a time when Musk might be finding himself out of favour, is this a wise way for Dutton to position himself?&nbsp;</p><br><p>Become a member of POLITICAL CURRENCY GOLD 🏅 to support the podcast, enjoy ad-free listening to all our episodes and receive early access to EMQs. Or, join Political Currency’s KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.</p><br><p>Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.</p><br><p>Technical Producer: Danny Pape&nbsp;</p><p>Producers: Miriam Hall and Jarek Żaba</p><p>Executive Producer: Dino Sofos</p><br><p>Political Currency is a Persephonica Production and is part of the Acast Creator Network.&nbsp;</p><br><p>Hosted on Acast. See acast.com/privacy for more information.</p><br><p><br></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>