Anthony Albanese is back from the United Nations in New York to a slump in his approval rating and more economic pain.

On Tuesday, the Reserve Bank raised interest rates to a 15-year-high due to continued inflation pressure. So what's driving inflation? How much is government spending contributing to this issue?

Also this week, the Greens elected a new leader. NSW senator David Shoebridge is far more confrontational than former leader Larissa Waters and comes from the party's hard-left faction.

His election may signal a shift in strategy from the party, which wants to replicate the success of left-wing figures such as New York Mayor Zohran Mamdani.

Chief political correspondent Paul Sakkal hosts today's conversation with senior economics correspondent Matt Wade and federal political correspondent Natassia Chrysanthos.

Further reading

• To avoid another rate rise, things might have to get worse
• The Greens need to let the sunshine in or risk stagnation

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It’s been a year since Liberal MP Andrew Hastie quit Sussan Ley’s frontbench to speak his mind on migration.

His decision fractured the Coalition and Ley’s ambition to woo back multicultural communities with a more moderate stance. How things change in a year.

But through it all, migration has become a more heated political issue. On Tuesday, Angus Taylor announced the Coalition’s long-awaited policy, promising the biggest cut to immigration in Australia’s history.

So what are the merits and the pitfalls of the Coalition's plan?

Former deputy secretary of immigration Abul Rizvi – who is today's special guest – and chief political correspondent Paul Sakkal pull apart the policy and the politics before Rivzi answers a number of listener and reader questions on migration.

Today's host is federal political correspondent Natassia Chrysanthos before regular host Jacqueline Maley returns to the chair next week.

Further reading:

• The cost of cutting foreign workers: Fares spike in Taylor’s migration gamble
• International student cuts risk ‘very significant hole’, universities warn

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This week – again – is all about the economy, which includes a visit from a ghost of the past in the form of former treasurer Josh Frydenberg.

But the big topic for today is current treasurer Jim Chalmers and a speech he gave this week, in which he warned progressives not to mock One Nation voters.

The far-right strategy to divide people was working, he said, and although facts could push back on sensationalism and misinformation, “facts don’t beat feelings”.

Chalmers also acknowledged that voters’ dissatisfaction with the government was primarily linked to the economy and cost-of-living pressures. He asked people to give him more time and, in a year, things would get better. But are voters done? Will people give him another 12 months without further damaging support for Labor?

Senior columnist Jacqueline Maley is back in the hosting chair and today’s guest is senior economics correspondent Shane Wright.

Further reading

• Frydenberg: A grateful son or a relentless self-promoter?
• So many people are angry. It’s becoming clear where this comes from

Cut through the noise of federal politics with host Jacqueline Maley and chief political correspondent Paul Sakkal on Inside Politics, from the newsrooms of The Sydney Morning Herald and The Age, every Friday.

If you enjoyed this episode and want to hear more, rate, review and subscribe on Apple, Spotify, YouTube or whichever platform you find your pods.

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