Monetary policy
Macroeconomic policy

Thursday 5 October 2023

Worlds apart

Why is UK inflation so much higher than in the US, and what does that tell us about the economic outlook?

Resolution Foundation event with The Brookings Institution

The last few years have not been easy times for any advanced economies. The UK, US, and Eurozone have all buffeted by major economic shocks, most recently by the most significant inflation surge in four decades. But while there are many common themes – huge inflation pressures, rising interest rates, tight labour markets and weak GDP growth – the drivers and evolution of these trends vary from country to country. The UK currently has higher inflation than seen across the Atlantic, and some expect it to see interest rates remain higher for longer too.

Why has inflation risen and fallen at different scales and speeds in different countries – and on different sides of the Atlantic? What does that tell us about who is most, and least, likely to experience a ‘soft landing’ from recent interest rate hikes? And what might this mean for elections expected in the US and UK next autumn?

The Resolution Foundation is hosting an in-person and interactive webinar – in partnership with leading US think-thank The Brookings Institution – to debate and answer these questions. We will hear from former Vice Chair of the Federal Reserve Board Donald Kohn on inflation in the US, and from other economists on the differences and similarities between the recent economic shocks felt in the UK, the US and other advanced economies, and what this might mean for their economic outlooks.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido.