In Brazil, unemployment is at a record low, inflation is under control and growth projections are being revised up. However, the Lula administration is having a hard time moving forward with expected reforms, and financial markets are reacting negatively. This episode dissects the forces behind these trends. Why is Lula facing resistance in Congress? What are the economic debates under way inside the administration, and who is winning? How is Lula himself handling the challenges of a third term? Our guest is political analyst Celso Rocha de Barros, a sociologist, an analyst for Brazil's Central Bank, a columnist for Folha de S.Paulo, a podcaster at Revista Piauí and the author of PT, Uma História, a book about the history of Lula's Worker's Party.