18 months ago interest rates on both sides of the Atlantic were effectively zero. Then inflation returned with a vengeance - reaching almost double digits for the first time in 4 decades.

The first major central bank to react was the Federal Reserve in the US and now it looks as if inflation is moving in the right direction. This morning Joe caught up with the President of the Atlanta Federal Reserve Raphael Bostic who is in Ireland as a guest of the Irish Association of Investment Managers.