The troops and hardware piling up at the border are probably just posturing. But look closely: Russia’s military is swiftly getting better-equipped and better-trained. Outsized inflation numbers in America are partly a statistical quirk—but also a sign of the tricky balance pandemic-era policymakers must navigate. And why you may soon be getting a lift from a flying taxi. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer

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