On Sunday, Germany’s socialist party Die Linke won the Berlin elections for the first time. Like New York’s Zohran Mamdani, it beat the establishment parties by offering Berliners concrete action on rents and the cost of living.
After surviving the worst of the pandemic, the city now faces budget cuts that seem to promise even more disruption. The average rent of a Manhattan apartment is now reaching $5,249 a month, an increase of nearly 20 percent over the previous year.
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There is no compelling reason to raise interest rates, now or later.
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