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<div class='news-block'><b>The Fed’s rate debate</b><img src='https://cdn.espresso.economist.com/files/public/images/20231125_dap309.jpg' alt='News Image'><p>Has the Federal Reserve finished raising interest rates? On Tuesday it will publish minutes from its latest meeting, which ended on November 1st. Investors and analysts will parse the words of officials. At that time the Fed refrained from raising rates in part because of a surge in bond yields. The minutes are likely to show that officials viewed these tighter financial conditions as doing its work for it.</p><p>But such an explanation will raise as many questions as answers, because yields have declined by nearly half a percentage point since the meeting took place. Applying the same logic, the Fed may want to lean against this recent loosening of financial conditions by raising rates again. There are, however, other data points that will go into its calculus, most notably the surprising slowdown in inflation last month. The debate will carry on until mid-December, when the Fed next decides on rates.</p></div>
<div class='news-block'><b>China’s Middle Eastern diplomacy</b><img src='https://cdn.espresso.economist.com/files/public/images/20231125_dap307.jpg' alt='News Image'><p>For over three decades America has been the Arab-Israeli conflict’s sole broker. But frustrated by America’s refusal to call for a ceasefire after five weeks of Israel’s war in Gaza, Muslim leaders are signalling that they have alternatives. On Tuesday Egyptian, Indonesian, Jordanian, Palestinian and Saudi officials are concluding diplomatic meetings in China, the first stop on a tour of foreign capitals. China is keen to step up. At an online meeting of BRICS leaders on Tuesday China’s president, Xi Jinping, called for an immediate ceasefire, the release of civilian hostages and an increase in humanitarian aid to Gaza.</p><p>China’s diplomatic forays into the Middle East yielded fruit earlier this year when it brokered a deal to normalise relations between two historic foes, Iran and Saudi Arabia. Resolving Israel’s 75-year-old conflict with the Palestinians will be harder. On Monday Israel’s ambassador to China said that attempts to press Israel on how it wages war were “politically motivated”. And Israel has made clear that it will not forgo America’s more sympathetic mediation.</p></div>
<div class='news-block'><b>Nvidia’s near-monopoly under threat</b><img src='https://cdn.espresso.economist.com/files/public/images/20231125_dap305.jpg' alt='News Image'><p>During a tumultuous weekend which saw Sam Altman sacked from OpenAI, the world witnessed AI’s “boomers” and “doomers” wrestle for dominance. Another AI fight is unfolding in parallel: Nvidia, a chipmaker, will report its quarterly results on Tuesday. The company has a near-monopoly in AI semiconductors and its share price has jumped by over 200% since the beginning of the year. But pressure on its dominance is building.</p><p>For national security reasons America’s government has enacted increasingly stringent export controls on AI chips sold to China, which account for a fifth of Nvidia’s sales. The trade restrictions may be driving customers to find new suppliers. Baidu, a large Chinese tech firm, is reportedly buying more AI chips from Huawei, another Chinese firm, rather than Nvidia. At home, the American cloud computing giants—Alphabet, Amazon and Microsoft—are increasingly trying to use AI chips designed in-house. Although Nvidia’s results may impress now, things can change quickly. Just ask Mr Altman.</p></div>
<div class='news-block'><b>Will Chad be the next Sahelian country to fall?</b><img src='https://cdn.espresso.economist.com/files/public/images/20231125_dap310.jpg' alt='News Image'><p>On Tuesday the UN Security Council will discuss the Sahel. The arid strip south of the Sahara is far from secure. Since 2020 putschists have overthrown governments in Burkina Faso, Mali and Niger, leading French soliders to leave the countries. Jihadist violence is rampant. Russia’s Wagner group of mercenaries is growing in influence.</p><p>Chad may descend into chaos next. Since his father was killed by rebels in 2021, Mahamat Idriss Déby has ruled as an autocrat. But he is at risk of being ousted in a palace coup or perhaps even a rebel invasion. Mr Déby’s increasingly evident support for the Rapid Support Forces (RSF)—a paramilitary force fighting the regular army in neighbouring Sudan, and which includes many Chadians—has divided Chad’s ruling elite, some of whom back the other side. Even if the RSF wins, factions could seek to settle scores in Chad. Upheaval in Chad could also put into question France’s long-cherished military bases in the country—and, as in the rest of the Sahel, open the door to greater Russian influence.</p></div>
<div class='news-block'><b>Fargo’s comeback</b><img src='https://cdn.espresso.economist.com/files/public/images/20231125_dap302.jpg' alt='News Image'><p>The streaming wars have led Hollywood to endlessly plumb their archives for any franchise that might be remade or followed up. In 2023, NBC, Paramount+ and Netflix revived television hits from the 1980s and 1990s—including “Night Court”, “Frasier”, and “That ’70s Show”. They tried to update each show’s premises to meet modern sensibilities (unfortunately, canned laughter remains).</p><p>But perhaps the most surprising adaptation has been “Fargo”, which returns for a fifth season on Tuesday. Though the black comedy, written and directed by Joel and Ethan Coen in 1996, won many awards, the tale has a definitive ending. But since spinning off into a series in 2014 the show has dazzled audiences with its inventive stories of “Minnesota Nice” crime in the Midwest.</p><p>After an underwhelming fourth season, the next instalment promises a comeback of unlikely drama—combining ancient magic and debt collection—and a punchy performance by Jon Hamm (of “Mad Men”) as an authoritarian sheriff.</p></div>
<div class='news-block'><b>Daily quiz</b><img src='https://cdn.espresso.economist.com/files/public/images/QuizNEW_37_97.jpeg' alt='News Image'><p>We will serve you a new question each day this week. On Friday your challenge is to give us all five answers and, as important, tell us the connecting theme. Email your responses (and include mention of your home city and country) by 1700 GMT on Friday to [email protected]. We’ll pick randomly from those with the right answers and crown three winners on Saturday.</p><p>Tuesday: Which dessert is made with ladyfingers, Bavarian (or bavarois) cream, fruit and jelly?</p><p>Monday: Which is the largest of the Channel Islands, which lie between England and France?</p></div>