Marketplace: Recent Episodes
Marketplace
Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.
Retail sales were down in January, but the Census Bureau report — with its mish-mosh of data — can obscure nuances in consumer spending. In this episode, we talk to economists and other experts about how they cut through the noise. Plus: An American city and Canadian city with interlaced economies brace for tariffs, Americans love their meat sticks and the women behind a wine shop-restaurant-bookstore tell us about their business.
Homeowners have been clinging to low mortgage rates for the past few years, stifling the housing market. But new data from Zillow shows once-patient sellers are finally pulling the trigger, despite high rates. Why now? Also in this episode: Supply logistics costs rise, businesses brace for tariff fallout and produce prices fall for suppliers — but that doesn’t mean grocery bills are shrinking.
After a rough 2024, energy giant BP is expected to announce a “fundamental reset” of its business strategy this month. We don’t know for sure what that means, but industry experts expect the firm, formerly known as British Petroleum, to move away from renewables and double down on oil and natural gas. Also in this episode: A trade consultant tells us how her clients are reacting to President Trump’s trade policies, Zelle hit a record $1 trillion in payments last year and Americans are turning to “fin-fluencers” for financial advice.
The sun isn’t always shining and wind isn’t always blowing, but what if there was an always-available renewable energy source? In this episode, we take a trip to the Port of Los Angeles, where scientists are trying to capture energy directly from Pacific Ocean waves. Plus: New England faces a worker shortage brought on by an aging population, the U.S. steel industry’s days of market dominance are over and “AI accelerationists” want the technology to advance ASAP.
A series of policy changes are hitting the economy, but some aspects of consumer behavior have yet to demonstrate change. A Federal Reserve survey shows Americans still gauge future inflation at 3%. And we continue to spend 40% of our food budget on eating out and 60% on meals at home. Also in this episode, insurance and property taxes contribute to the housing affordability crisis, steel and aluminum are tariffed together but serve different markets, and only some states require vehicle safety inspections.
When you’re shopping, ever feel like your options are low-quality budget items or stuff that’s stunningly unaffordable? The growing gap between the haves and have-nots in the U.S. is reflected in what’s available for us to buy. It’s a phenomenon called bifurcation — we’ll explain. Also in this episode: Wage growth jumped in January and parlay betting makes loads of cash for sports gambling firms. Plus, share with Marketplace: What kind of consumer are you?
Treasury Secretary Scott Bessent says President Trump’s strategies of “energy dominance, deregulation and non-inflationary growth,” will bring down bond yields even if the Federal Reserve doesn’t cut interest rates. Will it work? Experts are skeptical. Also in this episode: Disney tries “skinny” streaming bundles, the women behind one of LA’s few lesbian bars talk strategy for reopening after the fires and small businesses show us how they’re increasing productivity.
In 2017, President Trump overhauled the federal tax structure. Eight years later, the corporate tax part of the deal hasn’t quite “paid for itself,” as promised. But the personal income part, which is set to expire this year, did help some lower-income Americans pay off debt and keep up with the cost of essentials. Will Congress act to renew it? Also in this episode: The legal outlook on Elon Musk gaining access to the Treasury’s payment system; Los Angeles fire property insurance payouts could reach historic levels; and the services sector is stronger than manufacturing right now.
You know that national debt we’re always talking about? It’s at $36 trillion right now, and around $7 trillion of that is owed … back to the U.S. government. We’ll explain. Also in this episode: Oil prices will be moved by more than tariffs this year, AI firms are spending big on Super Bowl ads and lenders see an uptick in business loan demand.
Between President Trump’s changeable policy plans and sticky inflation in some sectors, everyone participating in this economy is, in a word, uncertain. In this episode, we hear how manufacturers, importers and consumers are dealing with that uneasy feeling and get some perspective from Chicago Federal Reserve Bank President Austan Goolsbee. Plus, the new Department of Government Efficiency, led by Elon Musk, has unprecedented access to the Treasury’s chief payment system. Should we be worried?
Spent a lot on health care last year? So did employers. The cost of employee health insurance benefits rose 4 to 5% faster than inflation in 2024. That’s not unusual, but rising premiums do put a dent in corporate budgets. In this episode, why health care costs aren’t slowing down. Plus, a California port aims for total decarbonization by the end of the decade and once-incarcerated firefighters face significant barriers trying to find a job.
If you’re a regular “Marketplace” listener, you’ve probably heard of the Fed’s Beige Book. But have you heard of the Tealbook? In this episode, we pull back the curtain on the Fed’s fortune-telling report that helps monetary policy mandarins ideate on possible economic scenarios. Plus: AI tools juggle search dominance with profitability, the GDP report shows consumers still haven’t stopped spending and we wrap up our sojourn in Cumberland County, Tennessee.
When the Federal Reserve changes its key interest rate, borrowing costs adjust accordingly … usually. There are times, though, when they move in the opposite direction. In this episode, we break down interest rate sensitivity and why borrowing rates don’t always align with the Fed’s moves. Plus, we visit the Save a Lot grocery store and Good Samaritans charity in Crossville, Tennessee — two places that support the area’s aging residents, including those who live on low or fixed incomes.
As America’s population ages, so does its workforce. That’s why this week, Kai and ADP’s Nela Richardson are visiting Cumberland County, Tennessee, where a third of residents are 65 and older. In this episode, we talk to an exterminator, a part-time dance teacher, a hospital president and a minister-turned-shop owner to illustrate that Cumberland’s aging population brings new opportunities — and challenges.
It’s a demographic reality: The U.S. has an aging workforce. That’s gonna affect our economy, big time. In this episode, Kai takes a trip to Cumberland County, Tennessee, with payroll firm ADP’s chief economist, Nela Richardson. It’s home to one of the oldest labor forces in the country — around a third of residents are older than 65 — meaning this rural nook of Tennessee can give us a glimpse into the future.
Private label sales hit an all-time high in 2024, a new report shows. We’re talking about retail stores’ in-house brands, like Costco’s Kirkland or Target’s Everspring. What does it say about today’s consumers that they’re willing to abandon brand loyalty on certain items in favor of (usually cheaper) private label goods? Also in this episode: A seamstress upcycles fan gear and a retiree volunteers in his adopted community to build hiking trails.
Though first-time unemployment filings barely ticked up last week, continuing claims hit a high not seen since 2021 and nearly 1.9 million Americans are receiving jobless benefits. What gives? A mix of hiring freezes, the time of year and choosy job seekers. Also in this episode: We compare today’s labor market to how things looked just before the pandemic began. Plus, three cities where rents are falling and a visit to a 24-hour diner.
How is the consumer-spending sausage made? Not impulsively — today’s shoppers are value- and credit-savvy. Procter & Gamble attributed its sales growth to bulk purchases against a backdrop of rising consumer debt delinquencies. Is the strong, spendy economy not what it seems? Also in this episode: Cash donations may be the best way to help LA fire victims, a poorly worded Trump executive order puts transportation officials in a tizzy and an apple farmer talks about immigration and the labor supply.
President Donald Trump’s first day back in office came with dozens of executive orders and announcements. In this episode, we dig into why some of these decisions aren’t in domestic industries’ best interests. A 25% tax on goods from Canada and Mexico could create havoc in American automakers’ spiderwebbed production chain, and plans to boost domestic oil production could actually undermine profitability. Plus: Netflix’s subscriber numbers and a steel mill byproduct is a natural form of carbon capture tech.
The economic data of the last few months has reflected more than the typical turbulence. Labor strikes, natural disasters and political uncertainty have affected consumer sentiment surveys, producer prices, mortgage rates and more. In this episode, we asked economists how they’re separating the significant from the irrelevant. Plus, Sudeep Reddy at Politico talks Trump’s economic messaging, Los Angeles wildfires intensify the region’s housing shortage and bond yields are up globally.
Retail sales ended last year strong, despite a somewhat uneasy economic mood. Today, we dig into a tool many spenders used to keep up: credit. Non-housing debt just hit a record high, according to the New York Federal Reserve — that includes credit card and buy now, pay later purchasing. Also in this episode: Activist legal groups strategize in anticipation of Trump’s second term, history-themed media is having a moment and housing starts leapt up from November to December.
We’ve said it before and we’ll say it again: During a tumultuous few years, consumer spending has kept the U.S. economy afloat. December retail data reflects that: Americans may be uncertain about their economic future, but they didn’t hesitate to spend it up during the holidays. But does the almighty consumer show signs of wavering? Also in this episode, China has built up its trade war playbook, wholesale electricity prices stabilize and the cost of retrofitting homes to resist wildfires varies.
The December consumer price index is in, and inflation did tick up a bit. The stickiest category? Shelter, which was up a whopping 4.6% year over year. In this episode, we break down the multitude of reasons housing prices remain high. Plus: What’s next for humanitarian parole recipients as Trump takes office, why the American workweek is shrinking and EV adoption grows alongside an expanding charging network.
It’s Commerce Secretary Gina Raimondo’s last week on the job. We called her up to discuss the future of the CHIPS Act, her experience working with the tech elite and Donald Trump’s plan to “tariff our way” to revitalizing U.S. manufacturing. Also in this episode: Americans think finding a new job would be tricky but don’t plan to leave or lose their current one. Plus, the co-working industry sees signs of life and producer prices stayed mostly flat in December.
Vehicle fuel efficiency requirements, also known as Corporate Average Fuel Economy standards, were enacted in response to the 1970s oil embargo. But CAFE regulations have been buffeted by energy politics since that time. Once in office, President-elect Donald Trump is expected to carry on that tradition. Also in this episode: Homeowners affected by natural disasters have mortgage relief options, employers in expensive areas invest in manufactured housing and tech giants (still) dominate the stock market.
As many as 10,000 buildings have burned in the Los Angeles wildfires, officials say, and nearly 180,000 people have been ordered to evacuate. Angelenos who want nearby housing in the short or long term will be faced with one of the lowest multifamily vacancy rates in the country. Also in this episode: Airlines are optimistic as business travel ticks up, and 5.5 million Americans would like a job but aren’t actively searching for one. We’ll explain why.
Is economic uncertainty a feeling or a fact? Though you may think uncertainty defies measure, in this episode, we call up some economists who put a number on it. And, as wildfires rage in Los Angeles County, insurance firms — including California’s insurer of last resort, the FAIR Plan — brace for catastrophic payouts. Plus: President Joe Biden may further restrict the flow of AI technology to China, and Thailand’s auto sector finds hope in manufacturing Chinese electric vehicles.
Several major wildfires are raging in and around Los Angeles today. In this episode, we explain why the cost of fighting these blazes has ballooned. We’ll also hear about what makes urban wildfires particularly dangerous and destructive. Plus: More Americans work multiple jobs, an uptick in return-to-office orders signals shifting employer-worker relations and long-term bond yields rise as the future grows murkier.
Dockworkers are back to the negotiation table with employers, and automation is a big sticking point. Mechanizing port operations can make them more efficient, but the Longshoremen’s union is concerned that efficiency comes at the price of jobs. The deadline to avoid a possible strike is next week. Also in this episode: probing the mysteries of Spotify’s powerful algorithm, snowplowers take a hit from climate change, and the trade deficit isn’t as bad as it looks.
President-elect Donald Trump spent much of his campaign promising to impose tariffs on Chinese goods, and the value of the dollar has fluctuated in response to his trade agenda. We’ll explain the connection — and why lower import tariffs bring down the dollar’s value against other currencies. Also in this episode: Small businesses take advantage of their leases, home equity could fuel a massive wealth transfer and the GOP presses for changes to how the government calculates the cost of legislation.
President Biden blocked a nearly $15 billion deal for Japan-based Nippon Steel to buy U.S. Steel, citing national security concerns. Both firms say they’ll go to court to keep the deal alive, but can they prove the acquisition won’t put the U.S. in a vulnerable spot? Also in this episode: Small businesses win an anti-gentrification victory in a Los Angeles neighborhood, new car sales are up despite high prices and Orlando, Florida, gets a romance-only bookstore.
A new congressional session begins on Friday and, like so many before them, the fresh cohort of lawmakers will have to come to a consensus on what to do about the national debt ceiling. Will they raise it, lower it or get rid of it entirely? We explain. Plus, job seekers use social media to market themselves, a few areas shine in an otherwise so-so construction spending report, and longshoremen stand firm against port automation.
Natural gas prices are creeping up — the commodity leaped recently in futures trading. That means your January heating bill may be higher than anticipated. In this episode, what makes natural gas prices heat up and why we can’t just pump more in. Plus, Boeing’s New Year’s resolutions for a stronger 2025 and how women might benefit from the “great wealth transfer.”
We called up some economists to get their take on one word to describe this year’s economy. Mostly, experts said things fell somewhere in the middle of excellent and disastrous, but some had cheerier outlooks than others. Also in this episode, we ring in the new year with a 2025 housing market lookahead and a breakdown of the first congestion pricing program in the U.S., coming to New York City Jan. 5.
Pending home sales grew for a fourth-straight month in November and housing supply just hit a four-year high. But that’s partly because many listings are “stale inventory,” sitting on the market for at least 60 days. Also in this episode: An old material used in a new way for climate-friendly high rises, social media budgeters breathe new life into the cash-in-envelopes strategy, and seniors on Medicare will pay less out of pocket for prescriptions starting Jan. 1.
When workers get more productive, higher wages might follow. So what about jobs that just can’t get more productive? In this episode, we explain why those workers’ wages may rise anyway — a concept called the Baumol effect — with help from an economist who’s also an amateur bassoonist. Plus, the trade deficit is no sweat, a Georgia program trains refugees for tech jobs and we check in with an urban tour guide in Kansas City.
General Electric broke its business into three separate public companies this year, putting a higher profile on corporate spinoff strategies. We’ll explain why spinoffs are hot right now. Hint: It has a lot to do with rewarding investors and managing debt burdens. Also in this episode: Congress may struggle to pass tax reforms despite a GOP majority next year, AI agents might be tech’s next big thing and why the Fed tracks the U.S. money supply.
Car prices tend to go up, but after a period of high interest rates, now is actually a decent time to buy. And Americans are buying — it’s one factor in rising retail sales right now. In this episode, why vehicle sales have revved up. Plus, corporate credit card fraud appears to be rising, breakup recovery is strictly business and retailers prep for potential inventory tumult.
There’s about a 1 in 5 chance your Christmas tree came from North Carolina this year. But growing them isn’t easy. In this episode, we check in with Fraser fir farmers in the Asheville area, who took a major hit from Hurricane Helene. Plus: Christmas Day football streams on Netflix, higher minimum wages for many Americans in 2025, and Arctic tundra is transforming from carbon sink to carbon source.
Consumer confidence, as assessed by The Conference Board, grew steadily the past few months. But in December, the index fell 7%. One likely driver? Agita over President-elect Donald Trump’s tariff proposal. Also in this episode: The Senate passes a pricey bill to fix a decades-old Social Security issue, President Joe Biden announces an investigation into China’s trade practices for chips, and we check in with an Asheville business recovering from Hurricane Helene.
New research from the University of Washington found businesses owned by women and people of color are charged higher rates for loans, costing about $8 billion a year more in interest payments than their white counterparts. Also in this episode, some energy sector updates: Growing global coal demand is powered by data centers and industrialization, and a new Gulf Coast hydrogen hub aims to reduce the carbon footprint of the region’s oil refineries.
Amazon is reportedly postponing a return to in-person work for a portion of its staff due to insufficient office space. It’s not alone. For the first time since the pandemic began, office real estate may be heating up. Also in this episode: Exports, particularly in the electronics sector, drive GDP growth, Chinese importers of U.S. goods prep for retaliatory tariffs and insurers push back against “nuclear” verdicts in personal injury cases.
Nurses, software developers and restaurant cooks are among the jobs predicted to grow the most in the next decade, according the Bureau of Labor Statistics. But some experts warn that predictions can be “spectacularly wrong.” Plus, homeowners cling to low mortgage rates, “exurbs” dominate this year’s most popular housing markets, and we hear from business owners who may struggle if President-elect Donald Trump’s policies push inflation back up.
The Coalition for Green Capital, funded by private investors and President Joe Biden’s Greenhouse Gas Reduction Fund, began doling out cash this fall. It’s an experiment in using federal dollars to spur investment in mitigating climate change. Will it survive under the incoming Trump administration? Also in this episode: How high can bond yields climb? Will 2025 be a big year for mergers and acquisitions? And, are tuition-free medical schools curing the industry’s ills?
Government bond yields are typically lower than corporate ones, since corporations can’t print their own money. The difference between the two is called a spread, and that spread has narrowed in recent months. In this episode, why that shrinking spread is a sign that investors feel optimistic. Plus: Retailers struggle with excess brick-and-mortar space, nationwide household net worth hits a record high and Vermont ski areas battle climate change.
The coming year will be a good one for housing — at least, the National Association of Realtors says so. It’s forecasting lower mortgage rates and more stable prices for homes in 2025. But not all housing experts agree. Later in the episode: an unexpected way to tap into geothermal energy, new approaches to corporate diversity as a court blocks Nasdaq’s DEI initiative, and a federal health care referral program leaves many Native Americans in debt, apparently in violation of the rules.
Older Americans will pass on more than $120 trillion to heirs and charities over the next 25 years, according to a wealth management company’s study. But financial advisers caution against assuming you’ll get lucky — half of the “great wealth transfer” will come from just the top 2% of households. Also in this episode: Insurance grows pricier, the Consumer Financial Protection Bureau limits bank overdraft fees and less than 10% of Americans moved last year — the lowest proportion since the Census Bureau began keeping track in 1948.
Food prices aren’t going down. The good news is, they aren’t rising rapidly anymore, either. But we get it, grocery shopping still hurts. In this episode, why food isn’t likely to ever cost what it did five or 10 years ago, and how our habits are changing in response. Plus: The fight against inflation isn’t over, rising child care costs take women out of the workforce and the supply chain preps for an import wave.
Remember those Christmastime Coca-Cola ads from the ’90s and early aughts? A caravan of red trucks snakes through picturesque towns, delivering holiday cheer in the form of good old-fashioned Coke. The company just released a new version, meant to invoke nostalgia for the Yule of yesteryear. And in the true spirit of 2024, it’s AI-generated. Will all our ads be AI-made soon? Or is human creativity still key? Also in this episode: A dogecoin influencer weighs his options, a startup wants to put EV chargers in lampposts and unit labor costs may tell us where inflation is headed.
Over the next five years, electric power demand in the U.S. will increase five times faster than we thought it would in 2022, a new report says. Can the grid take it? Probably — it won’t be the first time demand for electricity has made a major leap. Also in this episode: An influencer sues a “copycat,” consumers overestimate inflation but think it will fall eventually and ad industry evolution triggers a merger of rivals.
It’s been a wonky year for the labor market. Unemployment is down and inflation has eased. But ask an average American, and they might not feel like everything is peachy keen. In this episode, we asked economists to sum up the complicated year … in a song. Plus, homebuilders worry incoming President Donald Trump’s immigration policy will leave them short-handed, and retail hiring plateaued in November — unusual for the holiday shopping season.
Federal employment numbers come out Friday, so we’ve got a labor-packed episode. First up, job growth in evergreen or “secular” industries is strong (think health care) while cyclical jobs (think manufacturing) have been stagnant. Then, wage gains are outpacing inflation, but some workers aren’t feelin’ it. We’ll also hear from seasonal employees in Vermont and a mall manager in Montana who’s moving on.
We may be two weeks out from Thanksgiving, but online retailers are already locked in on holiday shopping season. While brick-and-mortar stores might not have flashy displays up yet, online shops decked the virtual halls over a month ago. Also in this episode: Houses of worship go all-in on solar energy tech and some small banks are in desperate need of technology updates.
The incoming administration may follow the mantra “Drill, baby, drill,” but demand hasn’t been vigorous and the International Energy Agency predicts an oil surplus next year. In this episode, what too much product could mean for the domestic oil market. Plus, retirees feel financially stretched, North Carolina’s tourist industry navigates disaster recovery and Disney turns a profit on its streaming platforms.
The national inflation rate doesn’t give a full picture of rising prices. Some places have it better than others. In this episode, housing costs have driven inflation down in some places, and kept rates above the average in others. Plus: Will China have to pay its fair share in the clean energy transition? Are Americans in better shape to pay off debt than before the pandemic? And, does anyone really need an AI shopping assistant?
Financial data from three industry-leading firms tells three very different stories. Concert promoter Live Nation had a scorching-hot summer season, while car rental company Hertz fumbled an electric vehicle investment. Home Depot fell somewhere in between. Also in this episode, housing construction. Are townhouses a solution to the shortage of homes? And why does HUD take years to fund rebuilding after natural disasters?
Cryptocurrency firms are thrilled with last week’s election outcome. For them, a second Trump term means a friendly face in the White House. What do they want this time around? Surprisingly, some rules. Also in this episode: Beef futures are up, inflation stalls just above the Federal Reserve’s target, and we dig into how the National Institutes of Health spent $1.6 billion in federal funding for long COVID research.
he U.S. is somewhere between 3 million and 7 million units short of meeting the nation’s housing needs. What can be done to build up the supply of homes? We asked five experts for their solutions. Also in this episode: A new program to cool down electric grid demand comes to Texas and an Iowa soybean farmer stays optimistic in the face of a bad harvest and a potential upcoming trade war.
If President-elect Donald Trump gets his way, importers are about to pay a ton more in tariffs. Some businesses are scrambling to bring as much stuff as possible into the country before his inauguration — and that’s not exactly easy. Also in this episode: Streaming platforms gain more international subscribers, hybrid workers Lyft to the office and the Fed cuts its key interest rate.
What will happen to the economy during Trump’s second stint in the White House? We don’t know for sure. But his planned immigration crackdown could cut into gross domestic product and raise prices, and his promised high tariffs are likely to do the same. Plus: Stocks jumped after the election was called, Biden will leave behind a vigorous economy and firms seeking skilled labor are gonna need to educate new workers.
Back-to-back Hurricanes Helene and Milton caused billions in damage. How are insurers going to pay for it all? Turns out, insurance companies have their own insurance. But as disasters get more severe and more frequent, “reinsurance” isn’t covering what it used to. Also in this episode: Boeing has major catch-up to do, an abandoned oil field could become a lithium extraction hotspot, and small businesses seem hesitant to cut health benefits.
There are only a few bills with strong bipartisan support in the soon-to-be lame duck Congress. Requiring AM radio in new cars is one of them. Proponents say AM radio is a vital part of the Emergency Alert System and still broadcasts news in rural communities. Carmakers aren’t buying it. Plus, the Dow’s got some newcomers, OPEC (once again) postpones increasing oil production, and farmers stress about tariffs ahead of the election.
The federal government is seeking a legal remedy for Google’s monopoly on internet search, as adjudicated by a federal judge. That remedy could include a breakup of its parent company, Alphabet. But when similar accusations were leveled against Microsoft a couple of decades ago, the software titan emerged from its trial intact. Also in this episode, Shohei Ohtani is a star in the baseball card market and California’s battle with planet-clogging plastic bags enters a new phase.
An estimated 50,000 civil service jobs were slated to become political appointments under a Trump-era executive order. If Donald Trump returns to the White House, there’s a chance he’ll reinstate it, leading to the biggest federal workforce shakeup in nearly 150 years. Also in this episode: A new resource for farmers market pricing and the key to sustainable wage growth.
Consumer spending has been strong since the post-pandemic-crash economy got back on its feet, and it continues to prop up GDP. But too much spending, as well as too little, could mess with the Federal Reserve’s goals of stable prices and maximum employment. Also in this episode: WNBA players want a contract to match their popularity and brand power, wage growth stays ahead of inflation and farmers are having a down year.
Solar panels are key in the transition to cleaner energy. But despite oodles of federal investment, there are still obstacles in the way of the U.S. manufacturing industry. Also in this episode: Home price increases slow, “The Diplomat” showrunner aims for authenticity, and the Fed’s next move.
If Donald Trump is reelected president, the Federal Reserve’s political independence would go “right out the window,” Alan Blinder, a former Fed vice chairman, told us. In this special episode, economists weigh in on the importance of Fed autonomy in policymaking, and what political interference — something Trump is threatening — could mean for the global economy.
Tupperware, the once-innovative plastic container brand, filed for bankruptcy a few weeks ago. Other companies still sell via party, but Tupperware pioneered the model. What happened? Also in this episode: Gummy candy overtakes chocolate in the Halloween sales race, and a family trip overseas inspires a claw machine arcade business in Colorado.
Machinists who have been on strike against Boeing for over a month just rejected a second contract. A major sticking point? Pensions, which the company suspended 10 years ago, in favor of 401(k) contributions. In this episode, we weigh the pros and cons of each. Plus: Colorado’s oldest business will become a co-op, a tight housing market means fixer-uppers are cool again and recent hurricanes test the catastrophe bond market.
In 2022, over half of adult Gen Zers spent at least 30% of their income on rent. They’ve got it slightly better than millennials did 10 years prior, but not by much. In this episode, how being “rent burdened” could affect young people down the line. Plus: The Federal Reserve turns its attention to the job market, more stadiums introduce facial recognition software and fewer kids went straight from high school to college this year.
It’s been nearly a year since the United Auto Workers ended its strike against General Motors, and the automaker has defied expectations with strong third-quarter earnings. Why is GM doing so well when other carmakers are struggling? Plus: Quebec is using a pension fund to build a light-rail system, and “Marketplace” host Kai Ryssdal plays U.S. president in a climate war game with two Department of Defense retirees.
Half a century has passed since the Equal Credit Opportunity Act was enacted, guaranteeing women equal access to credit. In this episode, we look back on gender-based credit discrimination and discuss other forms of lending bias that still exist today. Plus: What’s at stake for Boeing as machinists vote on a tentative contract, the tipped minimum wage is on the ballot and the value of the U.S. dollar goes under the microscope during corporate earnings season.
Dozens of people wait in line at the U.S. consulate in Shanghai in hopes of scoring a visa. One worry on their minds? Whether the outcome of the U.S. presidential election will ease tensions between the two nations or heat them up. Plus, why builders are breaking ground on more single-family homes and fewer apartment complexes, and how mobile homes became an integral part of the American housing stock.
Recent surveys have found that uncertainty surrounding the presidential election is impacting consumer’s outlook on the economy. Why are people feeling this way despite strong spending numbers and the recent interest rate cut? Also in this episode: Asheville businesses cope with water scarcity, oil markets are in “backwardation,” and clothing resale platforms struggle to turn a profit.
An estimated 13 million older adults are eligible for the Supplemental Nutrition Assistance Program. Fewer than 4 million are registered. SNAP benefits can be a lifeline for food-insecure Americans, but they’ve got to apply. Plus, mortgage rates are up, and the European Central Bank is expected to cut rates again.
Walgreens plans to close about 14% of its national footprint in the next three years, making it the third major drugstore chain in the past year to signal it’s struggling. In this episode: Why have drugstores become a tricky business model, and what happens when communities lose a pharmacy? Plus: Electric vehicle adoption grows but Americans are still cautious, an inventory data point helps indicate where the economy’s headed, and some family foster agencies are scrambling after their biggest insurer in California pulls out of the market.
JPMorgan Chase and other major banks are setting aside extra cash in anticipation of an uptick in bad loans. Lending always comes with some risk, but right now, banks are worried about a few specific types of debt. Also in this episode: Some discouraged job seekers aren’t included in the official unemployment tally, OPEC downgrades its demand forecast — again, and Russian bots take over online poker games.
As Election Day grows closer, economic-minded voters wanna know: How much do Harris and Trump plan on adding to the national debt? The Committee for a Responsible Federal Budget reviewed the campaign promises of both candidates and predicted a spending range for each. In this episode, will Trump or Harris dig a deeper debt hole — and why should voters care? Plus, thousands in North Carolina are still without power, and why a mining company is paying billions for a lithium firm when the metal’s prices are down.
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, counts himself as a data dog. It’s a name for economic policymakers who take the long view and are usually game to wait for more numbers. Goolsbee spoke with “Marketplace” host Kai Ryssdal about his voracious appetite for information and what he calls “the hardest thing that a central bank has to do.” Plus: Sports ticket prices are up 10% in the last year, and California requires retailers to help fund textile recycling.
As the Southeast assesses Hurricane Helene’s damage, Milton barrels toward Florida’s west coast. The proximity of the storms will make it harder for homeowners and insurers to estimate each one’s impact — and likely drive up recovery costs. Also in this episode: Corporate bonds shine after the Fed’s rate cut, the mortgage rate honeymoon is over and Nebraska’s elections attract major campaign spending — along with some odd yard signs.
Natural disaster recovery is often expensive, but this season is shaping up to be particularly costly and painful. The Southeast is reeling from Hurricane Helene, and Hurricane Milton is expected to inflict more damage starting tomorrow night. Disaster preparedness can reduce the economic burden of recovery, but not all localities can afford to be prepared. Also in this episode: The Fed’s interest rate cut raised business owners’ optimism and China invites more young Americans to visit.
Since the COVID-19 pandemic began, firms have taken some unprecedented measures to balance out the effects of lockdown, inflation and supply chain backups, leaving some economic predictors sorta … off. How can forecasters do their jobs when so many economic patterns have changed? Also in this episode: The Author’s Guild announces an anti-AI marketing strategy, consumer credit climbs, and for some agents, the National Association of Realtors settlement was the last straw.
It’s a cautionary tale: Boeing was known for its reliably constructed aircraft. But when outsourcing for the sake of the bottom line went too far, product quality — and Boeing’s reputation — diminished. In this episode, the delicate balance of profit and perfection. Plus, the specialty contracting sector adds tons of jobs and an outdoor sleepaway camp in Wyoming combats brain drain.
The United States is the biggest importer and second-biggest exporter in the world. So if the dockworker strike lasts, some sectors may have to look for other ways to get their goods overseas — or pay to store them until cargo starts moving. Also in this episode: Prices probably won’t fall with inflation, economists keep an eye on the diffusion index, and Kai Ryssdal visits a remote atoll in the Pacific Ocean that’s important to U.S. security but vulnerable to climate change.
Medicare, Pell Grants and the Immigration Act of 1965 were all passed under President Lyndon B. Johnson. Several important government agencies were formed too. In fact, some historians argue that LBJ’s Great Society agenda was the last major shift in the relationship between the executive branch and the U.S. economy. In this episode, how does legislation passed under President Joe Biden compare?
About 45,000 members of the International Longshoremen’s Association went on strike today over pay, yes, but also the automation of their jobs. We take a look at mechanization on the docks and how truckers feel the pain of shipping delays and slowdowns. Plus, the U.S. increased the number of available jobs in August, data centers are going higher and sleeker, and learning about white labels the hard way.
Sept. 30 marks the end of a yearlong grace period that came after a several yearslong pause on student loan repayments. Starting tomorrow, missing a payment will affect borrowers’ credit scores. Are the most vulnerable borrowers prepared to pay? Also in this episode: Women’s sports sponsorships gain ground, Zillow introduces climate risk scores for homebuyers, and a potential longshoremen’s strike looms on the East Coast and Gulf of Mexico.
Disposable income was up 0.2% in August from July, the latest personal consumption expenditures report shows. It’s good news that income is outpacing inflation, but major life expenses like homeownership or retirement are still out of reach for many Americans. Also in this episode: Kamala Harris’ presidential campaign may benefit from Divine Nine-affiliated PACs, California decides how best to recycle EV batteries, and Denver property owners will pay an annual tax to fund sidewalk maintenance.
Good job, everyone! We’re working harder — or at least, more efficiently. Despite a cooling labor market, we’re producing more product per hour, which has major economic benefits. In the long run, that should boost the economy and heat up hiring — hopefully. Also in this episode: The military tries lowering its aircrafts’ carbon footprint; Shanghai modernizes its e-payments for visitors; and while women are a growing Formula One fan base, they aren’t yet in the driver’s seat.
The average rate on a 30-year fixed mortgage is 6% right now — a better deal than 8%, which is where rates were a year ago. But home prices have grown tremendously in the past several years. So how much can falling rates really help prospective buyers? Also in this episode: a customs broker preps for a potential port strike, Dame Judi Dench could be your next AI assistant, and college football conference shake-ups are all about the money.
Last week’s interest rate cut was supposed lower borrowing costs across the economy. But there’s been a surprising coda: The interest rate on the 10-year T-note went up. So, while the Federal Reserve intended to provide an economic reprieve, some loans may have become just a little more expensive. Also in this episode: New York and Las Vegas lead in home price growth, cement needs to go green and soft skills strengthen job skills.
There’s a good chance you’ve used a computer powered by Intel — it’s a longtime Silicon Valley giant. But rival chipmaker Qualcomm is looking to get bigger. In this episode, why Intel, legendary but past its prime, may be ripe for takeover. Plus: Southwest Airlines faces pressure from an activist investor, talking to a human customer service rep has become a privilege and federally sponsored free COVID tests are back.
Ever wanted to burn up physical manifestations of the year’s heart-wrenching grief and financial dread in a 50-foot-tall, marionette-shaped effigy? Same! In this episode, we visit the 100th Burning of Zozobra in Santa Fe, New Mexico, where attendees do just that. Plus: Climate change may be to blame for pricey potato chips and corporations rehire old executives in unstable times.
Interest rates fell in the wake of yesterday’s cut by the Federal Reserve — kinda. Truth is, most lenders had anticipated this move for a while and already lowered their rates before the Fed’s announcement. But we’ll have to wait for some of the other ripple effects. Also in this episode: Educators cautiously consider artificial intelligence products, consumers aren’t too interested in the new iPhone and we visit a remote edge of Alaska where national security and climate change clash.
Federal Reserve policymakers met this week and announced they’re cutting interest rates by half a percentage point. That’s meant to buoy the economy, but getting the public to understand why rates have been high, and why now’s the time to cut, is tricky. In this episode, experts weigh in on Chair Jerome Powell’s communication prowess. Plus, Gen Zers feel the pain of a tight job market combined with high prices, and we travel back in time to a Fed rate cut in 2019.
Since the COVID pandemic started, you’ve been shopping online more, right? Though consumer spending remained relatively stable over the past year, shopping at nonstore retailers (i.e., e-commerce) grew nearly 8%. We get it, it’s more convenient and safer, pandemic-wise. But how are brick-and-mortars adapting? Also in this episode: Corporate execs spout similar economic lingo, our electric grid’s got green energy shortcomings and rate cut anticipation raises homebuilders’ confidence.
For years, global oil demand has ticked up, mostly thanks to China’s voracious consumption. But real estate trouble combined with widespread electric vehicle adoption means China’s not guzzling oil like it used to. In this episode, the impact on the global oil market. Plus: A dockworker strike could put snags in holiday shopping, flight attendants dislike delays as much as you do and four states will vote on bond measures in November.
Everyone’s favorite aircraft manufacturer is back in the news — 30,000 Boeing machinist union members are on strike over pay. Typically, flyers don’t care what plane they’re on, as long as it gets them to the right place safely. But Boeing has had a year of high-profile controversies. Will the strike put the company into free fall? Also in this episode: Dollar stores struggle, Sierra Mist fizzles out and Jack’s Family Restaurants thrives in rural towns.
Today in Econ 101, we’re talking yield curve. In a typical economy, the longer a bond’s duration, the more interest it yields. The inverse — shorter duration, higher yields — usually means a recession is coming. We’ve been seeing an inverted yield curve in the U.S. financial system for nearly two years. So, where’s the recession? Also in this episode: Credit card delinquencies hit a 12-year high and we visit U.S. troops preparing for climate change.
Annual inflation, according to the consumer price index, fell to a multiyear low in August. That’s great, but we’re still half a percentage point away from the Federal Reserve’s 2% goal. What’s holding up prices? Also in this episode: Campbell’s wants us to know it sells more than soup, recession alarm bells are ringing — but maybe not for the reason you think — and will companies that already collect our data please stop sending us surveys?
Since 1970, Amtrak has run U.S. passenger rail service and — per a formal agreement with private railroad companies — those passenger trains get preference over cargo carriers on the tracks. But now, the Department of Justice says freight companies are breaking the rules. Also in this episode, more moving: New pipelines carry excess natural gas out of Permian Basin fields, programs that help families move into affordable housing assist with repairs too, and farmers pressure Congress to budge on the delayed farm bill.
When the August consumer price index is released Wednesday, it’ll be the final major inflation report before the Federal Reserve’s policymakers meet next week, when they’re expected to cut interest rates. But how important is the CPI as a gut check this time around? Also in this episode, backup generators are too expensive for many older Texans who need them most, China makes electric vehicles that seem impossibly cheap, and U.S. leaders show interest in a sovereign wealth fund.
The Inflation Reduction Act set aside $369 billion to invest in climate change programs and energy security two years ago. So far, when it comes to the percentage of IRA dollars claimed by state, Nevada ranks No. 1. In fact, the states that spent the most per capita last year aren’t Democratic strongholds either. In this episode, why Republican governors are leaning into clean energy. We’ll also hear from three “Marketplace” regulars about their jobs in the “analog” age, and dig into the August jobs report.
As the presidential race heats up, we’re sure to hear more about immigrants and how they affect the U.S. economy. In this episode, we break down immigration’s impact on housing, tax revenue, consumer spending and the labor market. Plus, 8 million student loan borrowers are in limbo while President Joe Biden’s SAVE plan is challenged in court. Also: Lots of small businesses can’t afford to hire, and energy storage batteries may be coming to an electric grid near you.
The job market is the tightest it’s been in over three years — but don’t freak out. There are still more open positions than there are job seekers right now. But some experts are stressing about what the labor market may look like in a few months. Would potential interest rate cuts influence job creation in 2025? Also in this episode: The services sector is looking better than manufacturing, U.S. war stockpiles have climate-friendly uses and we check in with a former restaurateur who pivoted to consulting.
Nearly a quarter of overweight or obese adults in the U.S. have taken a GLP-1 — a class of weight loss drugs that includes Ozempic. But in some states, Medicaid doesn’t cover GLP-1s, though low-income Americans are more likely to be overweight or obese. In this episode: Who can access or afford this new medicine? Plus, striking hotel workers want higher pay and a return to pre-pandemic norms, the Federal Trade Commission is making it easier to cancel unwanted subscriptions, and the manufacturing sector is in a rut.
Consumers’ long-term economic outlook were a bit more positive in August, data from the University of Michigan shows. So if your in-laws were in a better mood on Labor Day than they were, say, on the Fourth of July, that could be why. In this episode, we get into why some Americans are feeling good about the economy while others still feel like they’re struggling to make ends meet. Plus, pediatricians have to make tough decisions about how many COVID-19 vaccine doses to purchase and new Department of Transportation rules require airlines to reimburse passengers’ costs for canceled and significantly delayed flights, no matter the cause.
New data shows that while consumer spending is strong, Americans aren’t saving like they used to. But the pandemic made year-to-year comparisons a bit misleading. So are consumer habits normalizing after an unusual economic period, or should we be concerned that savings have taken a dip? Also in this episode: Some businesses prefer to operate on a “fiscal” calendar, public swimming pools try to stay afloat and corporate tax changes may be important in this year’s election.
Why is the U.S. dollar losing steam? The short version: Falling demand for the currency drags its value down. Since the Federal Reserve is likely to cut interest rates soon, investors aren’t racing to buy U.S. bonds. And you need U.S. dollars to buy U.S. bonds … you get the picture. In this episode, more on currency fluctuations — and why the dollar losing value isn’t all bad. Plus: Businesses investing in themselves drove up second-quarter GDP, China has a burgeoning black market for Nvidia semiconductors and human bodies make great compost.
What if every American household and business had access to high-speed internet? That’s what the Broadband Equity, Access, and Deployment program, a federally funded project, aims to accomplish. As part of our “Breaking Ground” series, we visit a town in Kentucky that’s had universal fiber-optic internet connections since 2014, thanks to a cable utilities cooperative and Great Recession-era stimulus funding. Could McKee be a model for what the U.S. might look like if the BEAD program achieves its goal?
Roughly 200,000 Kentucky households lack internet access or are “underserved,” according to Meghan Sandfoss, executive director of the state’s Office of Broadband Development. It’s her job to open digital doors for all those residents, rural and otherwise — a tricky task that involves coordinating federal, state and local offices as well as internet service providers, nonprofits and engineers. In this episode, we’ll upack the process of hooking up homes to a fiber-optic network, including getting local buy-in, developing detailed maps and navigating environmental challenges.
Bringing high-speed internet access to every U.S. household is one goal of the Bipartisan Infrastructure Law. To do that, we’re gonna need a lot more fiber-optic cables. Per the Build America Buy America Act, the $42 billion in federal funding designated for expanding high-speed internet access has to be spent on American-made cables and the optical fibers that make them up. So in this episode, we’ll visit a factory in Claremont, North Carolina, to see how they’re made and learn why the U.S. wants fiber prioritized over other ways to connect to the internet.
In this century, reliable internet access isn’t just a want — for many, it’s a need. The federal government is spending billions to bring broadband to underserved areas, but in the meantime, for residents of those hard-to-reach places, libraries are often the only place to access high-speed internet. In this episode, we visit an internet-providing library in rural Kentucky. Plus: Automakers expected a faster EV investment payoff, and prospective homebuyers play the falling-mortgage-rate waiting game.
For many old hotels and motels, the most reliable guests may be ghosts in the attic. Unfortunately, they’re not paying the nightly rate. Worse, many hotels with empty rooms are surrounded by communities suffering housing shortages. Instead of closing their doors, they’re being converted into transitional housing for low-income people with the help of nonprofit organizations. In this episode, we visit one. Plus, retirees feel financially stable while working Americans don’t, Fortune 500 firms fear AI and rural parents struggle with living in “child care deserts.”
The Bureau of Labor Statistics just revised its count of new jobs created between March of last year and March of this year. Although revisions are routine, this was a big one: 818,000 fewer than it initially calculated. In this episode, what the new numbers means for the labor market and the Federal Reserve. Plus, a pig farmer keeps tabs on the presidential race, retailers use “newness” to reel in shoppers, and the U.S. counties with the best and worst employment growth.
The gap between median household income and median income for homebuyers in the U.S. has been growing, putting housing affordability in its “worst spot” in the last 40 years, an economist told us. In this episode: How homeownership got so out of reach. Plus, a tax deduction business owners love expires in 2025, community colleges that are more training ground than stepping stone, and the debate over open-source AI.
When consumers can’t afford what they used to, many are drawn to inexpensive luxuries. Take the so-called lipstick index: When the economy slumps, lipstick sales go up. So what does it mean, economically, that luxury beauty brand Estée Lauder reported sales were down 2% compared to last year? In this episode: shifting consumer beauty habits in the U.S. and China. Plus, everyone’s signing NDAs these days, convenience stores are upping their grub offerings and California fast-food workers got a major raise, but what about prices?
The presidential campaign has been full of economic promises. Do you pick the contender vowing to reduce food costs and invest in housing? Or the one promising more tariffs and oil drilling? Promises can become targets for the opposition, even if they have little chance of being carried out in their original form. Which leaves some voters wondering: Do policy goals pitched on the campaign trail matter? Plus: The insurance boogeyman creeps up behind condos and a Pennsylvania town navigates life without a coal plant.
Even though unemployment has bumped up, retail sales are going strong. Consumers spent $7 billion more in July than in June, the Census Bureau reported. Food, clothing, appliances and other categories saw sales growth over 2023. In this episode, is all that spending the force that’s keeping our economy afloat? Plus, the pros and cons of “dual agency” in real estate transactions and why Atlanta Federal Reserve President Raphael Bostic counsels patience.
For the first time in years, the consumer price index — one measure of inflation — fell below 3%. That’s good for Americans and the Federal Reserve, which has a dual mandate to maintain stable prices and maximum employment. But as inflation has chilled out, so has the job market. What can the Fed do about it? Also in this episode: Mars bets that America will keep snacking, the lag in housing inflation data, and one interest rate to rule them all?
When you think “high prices,” you might think of stressed family budgets. But small businesses have to pay up too. Nevertheless, small-business optimism hit a two-year high last month, but it remains under the 50-year average. We’ll visit a boutique in New York and a bookstore chain in Georgia to get entrepreneurs’ on-the-ground perspectives. Also in this episode: New labor data could signal that interest-rate cuts are imminent, snack companies cook up Ozempic-friendly treats and Canada steps into the crude oil supplier spotlight.
Last week, when the stock market took a tumble, some investors put their cash into bonds instead. Why? Well, we tend to think of the stock and bond markets as having an inverse relationship: when stocks do well, bonds do worse. But when the economy gets wonky, that relationship doesn’t necessarily hold. Also in this episode: Aging Chinatown residents struggle to pass the baton, consumers guess where the economy is headed next, and we ride an Amtrak train from Los Angeles to Portland, Oregon.
A lot of folks like to weigh in on what the Federal Reserve should do with interest rates; Donald Trump said this week that if he were to reoccupy the White House, he should have a say in setting monetary policy. But keeping the Fed free of political pressure is important for several reasons. We’ll get into them. Also: Oklahoma tribal nations fill a gap in federal food aid for kids, Oregon ranchers deal with major wildfire losses, and theme park attendance dips.
The back-to-school shopping season is well underway. But with stubborn high prices in this economy, how will parents get their kids ready without feeling financially burdened? Also: decoding quarterly earnings, what goes into pricing mortgage rates, and why airport food is so expensive. Plus: A projectionist remembers his reel life.
Since the 1970s, the Federal Reserve has been officially tasked with a dual mandate: keeping prices stable and maximizing employment. But has the Fed ever found that sweet spot? It would be easier to answer if the economy wasn’t always in flux. Also: Disney’s streaming service posts its first profit, what we can learn from women entrepreneurs of the 19th century, and noise from a bitcoin mine haunts people in a rural Texas town.
How are people feeling about the economy after the dramatic drop in stocks? They’re “Googling the word ‘recession’ like crazy,” an economics professor told us. On the show today: Why perception is so important in economics. Also: The not-so-bad reasons for the higher unemployment rate, what the Google antitrust ruling could mean for Big Tech, and stealth shopping — hiding purchases from partners — is on the rise.
These aren’t words you want to hear about the stock market, but here we are. Global markets, including the major U.S. indexes, tanked today. Along with stocks, crude oil prices also took a hit. We’ll look at the causes and what might happen next. Also, the critical role of exporting services in this economy and a status report on a possible TikTok sale.
Job creation slowed sharply in July, the Labor Department reported today. One sector that took a hit is information and entertainment. That includes data processors, moviemakers, software publishers and — ahem — broadcasters and news websites. Do those job losses signal a meaningful change or was it just an off month for the field? Plus, shipping rates may come down next year, the Spanish-language interpretation industry is expected to grow, and remember when cellphones had antennas?
Strong productivity growth last quarter coupled with recent wage growth means we’re generating more output and, at least to some extent, getting paid for it. In this episode, why productivity growth prevents a wage-price spiral. Plus, California wants to build an offshore wind turbine assembly plant, national economics impact national performance in the Olympics and equity-rich homeowners can’t do much with their housing wealth right now.
The Federal Reserve kept its key interest rate as is today, but rate adjustments aren’t the only monetary policy tool at the Fed’s disposal — don’t forget quantitative tightening and easing. In this episode, we explain why buying and selling government debt can help to balance out the economy. Plus, companies look for smaller but swankier offices, New Jersey has 70,000 units of affordable housing thanks to a decades-long legal saga and the oil industry tries to guess when oil demand will peak.
When Big Tech earnings reports come out this week, traders will scrutinize how much was spent on artificial intelligence. The billions of dollars invested haven’t translated into profit — at least not yet — and Wall Street is getting impatient. Also in this episode: We’ll break down the latest job openings data, uncover why housing contract cancellations are rising and hear from a real estate broker about the market in Houston.
McDonald’s reported weak sales in its second quarter. A slowdown in restaurant spending — if that’s what’s happening — may signal an economic downturn is brewing. Or, are the chain’s underwhelming results a byproduct of pandemic spending trends or rising wages? Also in this episode: Being a firstborn kid has its economic advantages and three major central banks are meeting this week. Plus, we’ll explain how maximum employment is measured.
The good news? The Commerce Department says personal income and consumption were up in June. Bad news is savings didn’t rise with ’em. In fact, high interest rates and high prices have battered the personal savings rate down to an almost two-year low, leaving many households without a financial security cushion. In this episode, we’ll also get into why national manufacturing growth depends on where you are, and Boston is incentivizing office to residential real estate conversions.
New gross domestic product data just came in — GDP grew a healthy 2.8% annually in the second quarter, better than predicted. Meanwhile, consumers are focused on buying essentials and credit card debt is growing. In this episode, we’ll examine why GDP is strong while many everyday people feel squeezed for cash. Plus: New real estate broker fee rules take effect next month and the number of Americans who predict they’ll retire young is up.
The last time Congress raised the federal minimum wage, it went up 70 cents — from $6.55 to $7.25 an hour. That was in 2009. Today, we’ll get into why there hasn’t been a successful push to boost it since then and who suffers as a result. Plus, officials in China promise major tax reform, apartment vacancies in Sun Belt cities rise and the Federal Reserve keeps an eye on GDP estimates.
“Act your wage,” “coffee badging,” “ghost jobs” — the internet is always vomiting up new workplace phrases. You may even use some of them to describe the bizarre job market of the past few years. So when popular work slang shifts from silly — “lazy girl jobs” — to grim — “quiet cutting” — are there hints about where the labor market is headed? Also in this episode: Tech firms ditch user counts, car sales motor on despite high costs and educators get educated about jobs at the Port of Baltimore.
In the face of major news, some say the bond market can signal what comes next economically. But so far, bond yields don’t seem to be reacting to Biden’s dropping out of the presidential race. In this episode, what the crystal ball of the economy does care about in regard to elections. Plus, business investments outpace GDP gains, Nvidia employees cash in on the chipmaker’s hockey stick-shaped earnings growth and Friday’s CrowdStrike crash reveals a common cybersecurity weakness.
Nearly every economic sector relies on secure technology networks: retailers, airlines, hospitals and more. After a faulty software update by cybersecurity giant CrowdStrike, businesses across the globe came screeching to a halt, dragging customers with them. In this episode, the tech firm behind today’s maddening “blue screen of death.” Plus: why the Federal Reserve plans communication blackouts, a former delivery driver remembers using chickens to mark her routes, and industry upheaval threatens an Alaskan fishing community.
The number of people filing for jobless benefits in each of the last two weeks rose. That means it’s taking job seekers longer to find employment. It’s also offers mild support to those who want to see lower interest rates. Also: Who’s spending and who isn’t? And what AI means for authors and publishers.
Now’s the time of year when many families look for a new home. But it’s a seemingly impossible market for first-time buyers: high prices, high mortgage rates, high insurance, low inventory. We’ll explain how some are pulling it off and why some experts believe lower home prices and rents are in sight. Also: State and local governments have been on a hiring spree, and business inventories are up.
Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.
The economy seems to be coming in for a soft landing, and that’s a big reason banks are doing so well. Markets are up, emboldening companies to make merger deals, which they pay investment banks to execute. JPMorgan Chase just posted the highest quarterly net income for a bank in U.S. history — $18.1 billion. Also: On the eve of Amazon Prime Day, how a shipping hub handles quick turnarounds. Plus, another decline in China’s GDP, and a DJ looks back at her analog life spinning vinyl.
Nearly a million Texans are without power after Hurricane Beryl damaged an already fragile energy grid. As they wait for the lights come back on, we’ll explain why pretty much the whole country needs costly energy grid updates, especially as climate change makes weather more extreme. Also in this episode: Students who attended for-profit colleges are drowning in debt, and legal experts break down what might happen to federal regulatory agencies without the Chevron deference.
Inflation cooled for the third straight month in June, and borrowers hope rate cuts come soon. But will enough “good data” show up to ease the risks of a flare-up in prices? We break down the Fed’s decision-making process — and explain why shelter prices are one thing holding the central bank back. Also in this episode: Workers at the Port of Baltimore are full steam ahead as the region recovers from the Key Bridge collapse, and a SCOTUS decision opens the door to changes in tribal nation health care management.
Inquiring minds want to know: When will the Federal Reserve cut interest rates? Fed Chair Jay Powell isn’t ready to answer that question. But when rates are cut, there’s gonna be a lag before the Americans feels it. Also in this episode: Egg-freezing rates skyrocket as more employer benefits cover the procedure, the U.S. is less trade-oriented than other countries, and nearly half of Gen Xers aren’t financially on track to retire, a new study says.
The job market has cooled in recent months. The days of two openings per available worker may be over, but some sectors still have to struggle to find employees. One industry on a hot streak is health care, thanks in part to the continued workforce disruptions caused by COVID. Also in this episode: Small-business optimism rises despite cost concerns, tweens concoct potentially harmful “skin care smoothies” and steel prices sag as demand drops.
Paramount just announced a merger with Skydance, a film production company. The hope is that adding Skydance’s offerings to its streaming platforms will boost subscriptions. But streaming is a finicky business, where you have to be a top-tier service to thrive. Also in this episode: Dynamic pricing technology could be profitable for retailers, some Chinese families seek gentler school environments and Americans visit South Korea as skin care tourists.
Federal surveys aren’t great at collecting data on Native Americans. One reason? As many as 60% of people who check the American Indian/Alaska Native box on forms also check another race box, the Brookings Institution found. In this episode, we’ll explain how undercounting impacts the federal government’s fulfillment of its obligations to Native nations. Plus, we’ll take a trip down the Houston Ship Channel and dissect the latest jobs report.
The May jobs report said wages had risen about 4% over 12 months, while inflation was 3.3% over the same period. Good news, right? Then why did consumer sentiment hit a 7-month low in June? In this episode, other wages-related measurements that might explain that economic pessimism. Plus, a Yale legislation-scoring group focuses on outcomes, and precision agriculture technology adoption is slow.
The Federal Reserve has a decision to make: cut interest rates to help the slackening job market and risk the progress it’s made in cooling inflation, or keep rates high — which could push unemployment up. In this episode, we’ll explain the economic inflection point and why interest rates don’t have the relationship to the labor market they once had. Plus, the presidential debate bumped up bond yields, the “beer industry” encompasses all types of drinks and customers nowadays, and one woman recalls her first 9-to-5.
Tuesday’s jobs report showed 200,000 more openings in May than the previous month — pretty yawn-worthy compared to the labor market roller coaster of the past few years. But don’t fret! All that boring data is actually a sign of stability. Also in this episode: Why organic produce is expensive to grow, what it’s going to take for global power sector emissions to fall, and which type of construction is dragging sector spending down.
Lawrence Brown created “Urban Cipher,” a Monopoly-like game, to illustrate the consequences of neighborhood redlining. We’ll join Baltimore city educators at a professional development session led by Brown and hear how redlining continues to affect families today. Also in this episode: Lumber prices fall while housing remains expensive, Toys R Us dips its toe into AI-generated advertising and a landscape designer tells us about his job before the arrival of drafting software.
Today we learned that the conservative majority on the U.S. Supreme Court upheld a local law in Oregon that criminalizes sleeping in public places, authorizing punishment for homelessness. We’ll get into how this connects to the stalled housing market. Plus, SCOTUS curtails the powers of government agencies and national work-from-home rates reach a new normal.
The Supreme Court has decided a case involving internal tribunals the SEC uses to enforce fraud rules. In this episode, we’ll hear from a legal scholar about the ruling’s implications for all sorts of federal regulatory bodies. The short of it? It will be harder for agencies to enforce laws and easier for people and companies to get away with breaking them. Plus: what “final sales” means in the Federal Reserve’s analysis of GDP and why continuing jobless claims are climbing.
Over the past few months, the Biden administration has announced new tariffs — on top of existing Trump-era ones. The period for public comment on them is nearly over, so we’ll hear business owners’ views on the levies’ likely impact on sales. Also in this episode: An all-female fire crew burns barriers, Google phases out infinite scroll and the U.S. semiconductor industry sorta relies on a hard-to-win visa lottery.
Data shows that the U.S. has a strong, thriving economy. Layoffs are at a multidecade low and wages have risen faster than prices. Despite all that and more, many Americans are feeling economic pain. What gives? Also in this episode, third-generation tuna fishermen rethink their livelihood as waters warm. We’ll also explain why most countries buy oil in U.S. dollars and whether the federal minimum wage matters anymore.
Red Lake Nation’s chairman, Darrell G. Seki Sr., wants to make energy free for all his nation’s citizens. Inflation Reduction Act funding could enable that by subsidizing the installation of more solar panels throughout their northern Minnesota reservation. In this episode, “Marketplace” host Kai Ryssdal visits Red Lake and hears from residents about their solar-powered goals and how clean energy connects to cultural values around environmental stewardship.
Florida-based Citizens Property Insurance Corp. wants to raise rates an average of 14%. But Citizens is the Sunshine State’s insurer of last resort — it’s backed by the state and tasked with covering homeowners who have no other options as private insurers pull out. What will Floridians do? Also in this episode: Environmentalists advocate more composting, a cyberattack forces thousands of car dealerships to go analog and oceanographers map the world’s seafloor.
Three years ago, a town of 2,500 formed an unlikely relationship with multibillionaire Bill Gates. He had new nuclear technology and Kemmerer, Wyoming, had a declining coal industry. This week, Gates broke ground on a first-of-its-kind power plant. Will it revive a struggling local economy or upheave the small community’s way of life? Also in this episode: Summer gasoline use is down, Nvidia dominates AI chipmaking and apartment buildings aren’t being built — despite high demand for more housing.
Credit card delinquencies are up overall in the past year — but that’s not the whole debt picture. Wealthier consumers can pay off their debt right now, driving up the nation’s average credit score. It’s a tale of two Americas. Also in this episode: Federal data reveals that nearly 1 in 4 Black prospective homeowners are denied a mortgage, and we catch up with a couple whose gift-giving journey was featured on “This Is Uncomfortable.”
With bond yields dropping, lower mortgage interest rates may be on the horizon. That’s great for people who’ve put off buying a home because they felt priced out. But will rates fall enough to make homeowners with older, cheaper mortgages consider selling? Also in this episode: Buy now, pay later attracts vulnerable consumers, electric vehicle sales growth slows and product designers chase down copycat products.
A stretch of the U.S. is under a heat advisory this week — but summer starts Thursday. When we talk about a “hot” economy, it’s usually a good thing, but in real life, extreme heat sends economic productivity downhill. We’ll get into why. Also in this episode: Retailers launch copycat sales to compete with Amazon Prime Day, Baltimore longshoremen are finally back to work and the bond market is booming.
Housing affordability is on everyone’s mind — a new survey shows it’s a “somewhat to very important issue” for the majority of voters, especially younger ones. We’ll discuss whether housing has historically determined elections and get realistic about what a president can do about housing prices. We’ll also look at how the government measures housing costs for homeowners, even if their mortgages are paid off. Plus: The history of all-you-can-eat deals.
The job market is weakening, according to recent data. Higher unemployment is a good sign — if you’re the Federal Reserve and want to cut interest rates. It’s bad, of course, if you’re a job seeker. We tackle this paradox in today’s episode. Plus: Cities adjust their tech-hub dreams, improved hurricane forecasting saves billions in damage, and Black workers pay a high price in the clean energy transition.
Well, the Federal Reserve decided to stand pat on interest rates for now — and said it may make just one cut this year. In this episode, we break down the Fed’s latest move and look at which sectors are feeling the “lag effect” of rate hikes. Plus: Daycares are likely to raise prices as federal pandemic funding runs dry, and Fannie Mae’s chief climate officer says we should prepare for climate risk to become a bigger factor in the housing market.
Remember in “Austin Powers” when Dr. Evil conspires to hold the world hostage for $1 million? Not much cash, right? Well, it was a lot back in the 1960s — the last time Dr. Evil was conscious. In this episode, Dr. Evil teaches us how to adjust for inflation. Plus: Grocery stores want to be community meeting places, AI-fueled ad spending rockets up, and small-business owners aren’t sure what the future holds.
As the Southwest prepares for 100-plus-degree days this week, we’ll look at where energy grids are prepared for a hot summer. A key factor? Whether grids have new electricity generators, like wind or solar plants. We’ll visit eastern Colorado, where clean energy jobs have been a boon for rural residents. Plus: More first-time homeowners enlist their parents as mortgage cosigners, and brands back away from trans representation, instead angling to keep both LGBTQ and transphobic customers.
May brought a surge of 272,000 new jobs, exceeding forecasts. Of those, 42,000 were in leisure and hospitality, benefitting from the summer travel season and increased wages. Also in this episode: a thousand options and nothing to watch. Netflix is getting a makeover for the first time in a decade, all with the goal of keeping subscribers hooked for longer.
The European Central Bank delivered on its promise of June interest rate cuts, its first since 2019. The U.S. Federal Reserve is still deciding whether to do the same this year. But what the ECB does won’t affect the Fed’s decision, since European interest rates don’t impact U.S. job growth or prices. Also in this episode, the history of the federal jobs report, the cost of congestion pricing and the future of tourism on the Rio Grande.
A Texas group is planning to open a Dallas-based stock exchange, it announced today. In an era when most stock trading is online, why does it matter that the exchange will be in Texas instead of New York? Also in this episode: Economists disagree on the power of the “wealth effect,” the co-working space industry tries to reinvent itself, and nanobubbles fight toxic algae in a Southern California lake.
An April labor report released today shows that hiring, quitting and layoffs didn’t change much from the month before. In this episode, why no news is a sign we’re headed toward a pretty strong (as opposed to a once-in-a-lifetime) labor market. Plus, a traffic report of sorts: “supercommuter” rates rise, e-cargo bikes race ahead in popularity, and air travel isn’t luxurious anymore.
A tax break that started out as a way for the government to incentivize homebuying has primarily benefited the wealthy, research shows, while costing the U.S. government $30 billion a year in tax revenue. That amount may more than double in 2026. Also in this episode: OSHA works on new heat guidelines for the workplace, construction spending falls, and the Federal Reserve wants interest rates to be “neutral.”
The economy is cooling, based on the latest inflation report, in part because American consumers are pulling back on spending. That’s good news for the Federal Reserve and its 2% inflation target. Also in this episode: GM says goodbye to the Malibu, OPEC+ members to talk about production quotas, and teen boys flock to luxury perfume counters.
Revised gross domestic product for the first quarter shows even slower growth than the original estimate. With U.S. GDP representing nearly a quarter of global output, what happens here can affect other economies. Also in this episode: why companies opt for machines over people, how cyberattacks affect small businesses, and what one South Gate, California, business owner thinks of prices.
A small neighborhood in the Phoenix area, full of farm animals and dirt roads, is in turmoil: A huge TSMC semiconductor plant, now under construction, is bringing with it a wave of commercial development and new residents. Champions of the project say the jobs and housing are sorely needed, but locals feel the transformation threatens their way of life. In this episode, we’ll visit the so-called Golden Triangle and meet stakeholders who include longtime residents, small-business owners, a city councilwoman and a real estate developer.
Commercial Israeli banks process transactions with Palestinian banks — about $10 billion in trade per year, and paychecks for tens of thousands of Palestinians with jobs in Israel. Normally, the government protects them legally if any funding finds its way into terrorists’ hands. Israeli finance minister Bezalel Smotrich recently threatened to end these waivers. In this episode, what could happen to the Palestinian economy if he follows through? Plus, what’s included in “cost of living” indexes, why consumer confidence is rising, and are we in a climate change housing bubble?
Nearly two-thirds of Americans drink coffee every day, according to the National Coffee Association. If you’re part of that 63%, you may have noticed coffee getting more expensive. Some of it has to do with the cost of the raw crop, which is at a 45-year high, partly due to climate change reducing yields. And it doesn’t help that global demand is growing. Also in this episode: Mexico City is in a water crisis, Zoom cashiers usher in a new wave of digital offshoring and machinery and other things-that-make-things purchases were up last month.
Per Bank of America’s annual workplace benefits report, more full-time workers are feeling secure in their jobs compared to last year. But there’s a catch: Those upbeat responses came from men, while the percentage of women who feel financially stable dipped slightly. Plus, the Federal Reserve’s inflation frustration, the SEC’s near-approval of spot ether ETFs and the federal tax code’s post-election future.
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This week, we got some gloomy news on the housing market: In April, new homes sales fell 4.7% and existing home sales dropped about 2% from the month before, and in May, homebuilder confidence took a dive. The most likely culprit? High mortgage rates. Also in this episode: Why DuPont is splitting its company into three, what Olympic and Paralympic athletes are doing to raise funds for Paris, and how business is going for a maker of custom cowboy boots in Virginia.
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About 7% of U.S. adults have long COVID, according to a new survey by the Centers for Disease Control and Prevention. Many of those nearly 18 million people say their symptoms affect their ability to work. Disability accommodations could be the answer. Also in this episode, competitors work on catching up to AI chipmaker Nvidia, companies offer 401(k) matching of student loan payments and the Consumer Financial Protection Bureau starts regulating buy now, pay later platforms.
On Monday, JPMorgan Chase CEO Jamie Dimon hinted at retiring soon after running the banking powerhouse for 18 years. But finding replacements for veteran CEOs can be a tricky business. Also in this episode: New research finds that Native households are more financially stressed. Plus: Lowe’s invests in professional contractors, and Chicago vendors scramble after grocery stores shutter.
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Fast-casual sit-down restaurant chains have a lot on their plates right now. They’re unpopular with Gen Z customers, struggling to maintain reasonable prices and can’t compete with made-to-DoorDash options like Chipotle. Meanwhile, at the other end of the restaurant spectrum, reservations at trendy spots are hot tickets in resale markets. Also in this episode: The Port of Baltimore hopes for a return to normalcy, Texans gear up for a sweltering summer and homeowners in extreme weather-prone areas turn to state governments for insurance.
The Dow Jones Industrial Average closed above 40,000 for the first time on Friday. As we say regularly on this show, the stock market is not the economy. But it can still be a good indicator of how some folks are feeling about the state of the economy. Also in this episode: Competition for small-business spending heats up, EV sales take a dip, and purchasing power for all income levels rises.
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Staying ahead is tough if you run a business — especially in this odd economic moment, where even affluent shoppers are picking low-cost alternatives. Whether you’re selling furniture, home goods or sheep’s wool, sometimes you have to adapt by targeting new markets. In this episode, three businesses doing just that. Plus, what a dip in weekly jobless claims might signal, why currency carry trades are risky, and how the bees made a comeback.
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Looking at fresh economic data, retail sales were flat and some categories of food dropped in price from March to April. That indicates both falling inflation and a consumer spending pullback — good things if you’re the Federal Reserve. We’ll dig into the consumer price index and hear from Chicago Fed President Austan Goolsbee about the stickiest part of inflation right now. Plus, more women are employed than ever. Could that change as pandemic support programs expire?
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President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.
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Americans are feeling worse about the economy. And that’s partly to do with fears about lasting inflation. According to the latest data, consumers expect inflation to rise three-tenths of a percentage point a year from now. Also in this episode: Why people are eating less fast food, how employers are helping workers with addiction recovery and what lower demand for second homes means for the general housing market.
Commerce Secretary Gina Raimondo wants to position the U.S. to become a leader in semiconductor manufacturing. After all, the U.S. invented the industry not so long ago. The Biden administration has invested $30 billion in new factories, and companies have thrown in 10 times that sum. In this episode, Raimondo tells “Marketplace” host Kai Ryssdal where she hopes U.S. chip production will be by 2030. Plus, her broadband expansion plan and how she views our trade relationship with China.
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Treasury Secretary Janet Yellen sat down with “Marketplace” host Kai Ryssdal to discuss inflation, economic growth, U.S.-China relations and why having a strong democracy matters for our economy. She also highlighted federal investments in clean energy, concerns about Chinese overproduction and more.
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Over the past five years, rents in nearly every major U.S. city have risen faster than wages. In New York City, rent surged seven times faster than wages last year. But this spike isn’t confined to the Big Apple. Later in this episode: GE’s three-way split is the end of an era. Also: the WNBA pay gap, and the rebranding of an iconic Midwestern frozen-food delivery service.
The good news: The forecasted date at which the Social Security and Medicare trust fund can’t pay full benefits for everyone was pushed back a few years in a report issued Monday. Bad news: That day is still coming, unless Congress acts. Also: aging in place or stuck in place? The challenges of homeownership later in life. Later in the episode: Reddit’s revenue and union organizing efforts in the South.
Workers are more satisfied with their jobs than they’ve been in nearly 40 years, according to a report from The Conference Board. But dig a little deeper and there are signs of rising dissatisfaction. In this episode, why workplace happiness might be plateauing. Plus, the property insurance industry faces growing climate risk, and a recreation center becomes a burden for a former boom town.
The U.S. spends about half of its $6 trillion budget on three government entitlements: Social Security, Medicaid and Medicare. When it comes to the national debt, cutting these benefits is often part of the cost-cutting conversation. In this episode, we hear how these entitlements grew to be so costly and why reducing them has been so difficult historically. Plus, the layoff that allowed one woman to focus on her small business, and the economic impact of university divestment.
Phoenix is on track to become a national hub for semiconductor production. The city has had lots of help: billions in funding from the Biden administration and buy-in from major chipmakers like TSMC and Intel. One thing they still need, though, is workers — 70,000 nationwide. Training programs are already preparing folks for entry-level chip technician positions. But where are all those promised jobs?
In the latest installment from their trip to Phoenix, “Marketplace” host Kai Ryssdal and Washington Post columnist Heather Long visit Native Resources — a plant relocation, nursery and landscape company — that sits at the intersection of conservation and development amid a semiconductor boom. Plus, takeaways from the Federal Reserve’s policy-setting meeting, a check-in with business owners about wages and an update on a Mississippi barge business.
Phoenix has been in the semiconductor business for a while now, but the Biden administration is taking it to another level by sending a major infusion of cash to tech companies in the desert city to expand chip-making capabilities. In this episode, “Marketplace” host Kai Ryssdal visits Phoenix with Washington Post columnist Heather Long. They dig into the challenges of rebuilding the country’s semiconductor industry.
Warehouses and cargo-moving companies spent a few weeks in limbo after the Baltimore bridge collapse. Now, they’re working hard to reroute goods that usually went through the city’s port, with some truckers driving far and wide to pick up freight redirected to other cities. In this episode, how one cargo transportation company is adjusting. Plus, who will hurt the most from a cap on credit card fees, what economic data the Fed is keeping an eye on this week, and why desk phones are disappearing.
People with certain federal student loans have until Tuesday to consolidate them and qualify for debt cancellation. The Department of Education is reviewing over 40 million loan accounts and issuing credit for past payments that previously didn’t count toward forgiveness. Also in this episode: a look at the latest inflation reading, Americans’ savings habits and pop-up coworking spaces.
Gross domestic product grew by 1.6% in the first quarter, slower than expected after the six-quarter steak of 2% growth or more. How will the Federal Reserve respond to this data when making its next interest rate decision? Also in this episode: The new deep-water channel helping cargo ships leave the Port of Baltimore, protecting trade secrets with noncompete agreements, and the struggling pneumatic tube business gets a boost from the cannabis industry.
Today, President Joe Biden took a decisive step by signing a bill that could ban TikTok in the U.S. unless its Chinese owner, ByteDance, divests from the company within nine months. This move echoes a long history of limiting foreign ownership of communications companies, dating back to the founding of this country. Also in this episode: Boeing’s financial woes, the NBA’s media bidding war and New England’s free college frenzy.
Expand, slow down, contract and recover. Businesses tend to make decisions based on what stage of the business cycle the economy’s in. The problem is, that doesn’t work so well anymore. We’ll get into it. Also: The hot U.S. dollar causes trouble overseas, college grad unemployment is up, and what other food programs can learn from WIC.
Many states are making it easier for homeowners to subdivide their single-family lots. But those with space to spare may not know how to develop it. Now, new companies are offering cash for the land. Also: Profits are up, but probably not because of “greedflation,” and federal grants aim to get solar panels on low-income families’ roofs.
Thanks to a strong stock market and record home prices, asset owners are feeling richer, even if it’s only on paper. Today, we get into the “wealth effect” and how it may play out in the presidential election. Also: Higher prices slow Procter & Gamble sales, the “catastrophic” halt to a Baltimore port business, and why companies change the metrics they report to investors.
In the 1990s, companies that hoped to change the world using newfangled computer technology took off. Wall Street invested in some of them big time, and their stock market valuations ballooned before they showed evidence of delivering on their promises. Sound familiar? In this episode, a cautionary tale for the era of AI. Plus, film jobs leave L.A. and New York, Netflix doubles down on video game investments and small businesses’ pricing power is kinda lumpy.
Today, President Joe Biden called for tariffs to be tripled on certain Chinese steel and aluminum products. These tariffs, first implemented by then-President Donald Trump in 2018, are now the latest move in the ongoing U.S.-China trade war. Plus, sky-high car insurance premiums, the government’s latest energy-efficiency standards and China’s shrinking wine market.
The International Monetary Fund reported today that the global economy has shown “remarkable resilience” and that growth is expected to hold steady at 3.2% this year. But that’s low by historical standards. Plus, why there’s weaker demand for Treasurys, how restaurant chains scout locations and why Warner Bros. is shelving “Coyote vs. Acme.” Beep beep!
The economy has historically been a major factor in election forecasting. But right now, the economy is kinda all over the place. In this episode, how some experts are adjusting their models to account for increased polarization and others are throwing in the towel. Plus, more guessing games: Will BYD crush Tesla? Should firms make big deals before inflation cools? And wait — when am I scheduled to work?
As more cities and states debate abolishing subminimum wages for tipped workers, we’re keeping an eye on Washington, D.C., where the tip credit system is being phased out. Though food service staff shrunk last year, some current servers say their paychecks are much more stable. Plus, corporate defaults climb and the cost of Asian imports falls as the cost of goods from Mexico increases.
Like a choreographed dance, central banks usually move together in managing interest rates. But with a high U.S. inflation reading in March, other banks might cut rates before the Fed. The European Central Bank is closer to its target and has signaled a cut in June. Plus, West Texas natural gas extractors are paying to get rid of their excess, colleges are hiring managers to help athletes get name, image and likeness deals, and a complicated insurance tactic is raising patients’ out-of-pocket costs.
Inflation is hotter than anticipated, according to today’s consumer price index. Electricity, for instance, cost 5% more year over year. And in the coming months, demand for electricity is expected to grow — scientists predict this summer is gonna be a hot one. In this episode, an air conditioning price forecast. Plus, the lone busy cargo facility in Baltimore, country music’s Black influences and an economic fortuneteller that’s always changing its mind.
Curious about which way the global economy’s headed? Take a look at copper prices. Demand for the metal is soaring, and copper futures are now at the highest levels in almost two years. Also in this episode: $10 billion. That’s how much Blackstone’s paying to acquire luxury apartment owner AIR Communities. Plus, the impact of a federal shutdown on tribal nations and the latest for a seller of records and comics in Jackson, Mississippi.
There have been mixed messages on interest rate cuts, and that uncertainty is weighing on consumers. As the Federal Reserve continues its effort to bring inflation down to 2%, economists watch how consumers interpret that kind of messaging and what their expectations are. Also in this episode: Black unemployment spikes, the impact of cyberattacks on small businesses and the growing use of psychometric assessments for job seekers.
Treasury Secretary Janet Yellen is back in China, less than a year since her last visit. In 2023, she was focused on gently reopening communication channels. This time she has a clear message: You’re making too much stuff. In this episode, why the U.S., Japan and some European countries are pressuring China to slow its manufacturing sector. Plus, we’ll hear from cargo ship workers stranded in Baltimore and learn about the welder shortage.
The legal right to ignore an after-hours call from your boss might seem appealing but unlikely. A California lawmaker, though, hopes to follow the lead of a dozen countries that have laws against it. Allowing employees to disconnect could be a plus for overall health and happiness, but not everyone supports the bill. Plus, women suffer a setback in the C-suite, economic data feels sorta choose-your-own-adventure right now, and denim is eternal.
Venture investments fell in the first quarter of 2024 to a near five-year low, PitchBook says. Funds started falling when the Federal Reserve first raised interest rates, and large exits have slowed in the past couple of years. Plus, “another test for the community”: Where Baltimore port workers and nearby businesses stand. Also, how campaign ads shape voters’ economic views and what the Realtors settlement means for buyers and sellers.
Interest rates on savings accounts have climbed in recent years. And high rates are great if you have money to squirrel away. With the Federal Reserve signaling it’s likely to cut rates, people can expect their banks to do the same. In this episode: how Fed rate cuts would impact high-yield savings and CDs. Plus, February job openings data, the cost of the Key Bridge collapse and the problem for TikTok-dependent beauty brands.
Twenty years ago, Google launched Gmail. Users thought the promise of 1 gigabyte of free storage was an April Fools’ joke. It wasn’t. In this episode, how Gmail came to dominate the email space — and everything connected to it. Plus, legislators rush to help workers affected by the Baltimore bridge collapse, small businesses prep for next week’s eclipse, and some states might cut funding for parent caregivers of disabled kids.
Federal Reserve Chair Jay Powell sat down with “Marketplace” host Kai Ryssdal to discuss inflation expectations, the central bank’s political independence, and humility in the face of national crises. The chairman also talked about how he consults with members of the rate-setting Federal Open Market Committee, why he worries when interest rates are covered like a “horse race,” and more.
Americans often vote based on economic conditions, but how voters feel about the economy doesn’t always align with the data. That disconnect can cost candidates an election — it might have happened in 1992 and it might happen in 2024. Also in this episode: Resume-spamming bots speed up job applications, the Federal Reserve hunts for “good data” and Home Depot bets on big construction projects as the DIY craze dies down and infrastructure funding kicks in.
Among the missing workers from yesterday’s bridge collapse are men from El Salvador, Mexico and Guatemala. According to the Labor Department, Latin American immigrants are among the workers most likely to die on the job. Plus, ever heard of “search funds”? Business school grads are using them as a fast track to the CEO seat. Also: The yen is at a 30-year low, and secondhand desks helped kickstart one business owner’s journey.
The Port of Baltimore is an important link in the U.S. supply chain. For one, it’s the nation’s busiest port for car shipments. But after the Francis Scott Key Bridge collapsed early Tuesday morning, the disruption could be prolonged. Plus, is 67 too young? Why some think the U.S. should raise its retirement age. Plus, how new construction impacts Houston’s housing market and what CHIPS Act funding means for a 1950s-era manufacturing plant in Vermont.
The Biden administration, through legislation like the Inflation Reduction Act, has its sights set on facilitating the transition to clean energy. But can the federal government control clean energy supply and demand? Is decarbonizing the industrial sector even possible? We’ll dig in. Also in this episode: Boeing’s CEO plans to step down, homes remain unaffordable despite new supply and mobile home residents come together to secure stable housing.
At first, Federal Reserve Chair Jay Powell’s speeches may seem yawn-inspiring. But economists, stock brokers and business folks around the globe pick over his every word, hoping for hints about the economy to come. In this episode, Fed chair speech theatrics: You just have to know what to listen for. Plus, Walmart starts selling luxury goods, affordable electric vehicles may be on their way and an economic indicator that’s been signaling “recession to come” for two years has finally turned around.
Initial unemployment claims dropped more than expected last week, down 2,000 from the week before. And that stat continues inching toward historic lows. Also in this episode: Oh, to live in the Big Apple! Why cargo bike deliveries are taking off, what the city’s new trash management plan looks like and how climate change causes home insurance headaches across the country.
“More good data” is what the Fed wants to see before it declares victory over inflation and cuts interest rates. The central bank looks at a lot of data from different sources. And as the economy changes, so do the Fed’s preferences regarding the facts and figures that inform its decisions. Plus, Intel secures $8.5 billion in CHIPS Act funding, Alaska faces looming gas shortages and e-waste holds troves of scarce resources.
Food plays a big role in this economy, and we’ll dig in to some industry niches in today’s episode. First up: Unilever is cutting ties with its ice cream brands, including Ben & Jerry’s and Breyers. We’ll also chew on Trader Joe’s recalls and chocolate bunny inflation. Plus: geothermal energy on Chicago’s South Side and NCAA women’s basketball.
To buy a house, you’ll probably need a real estate agent. Traditionally, sellers pay both agents a commission, a cost baked into the buyer’s closing fees. But a lawsuit settlement last week means buyers could start paying their agents directly or on an hourly basis. Also in this episode: global central banks meet this week, new tech may help bring down methane emissions, and avian flu is killing chickens across California.
The U.S. economy has been on a job creation spree in the last few years. But wage inflation has eased and unemployment even ticked up recently. What gives? Also in this episode: Infrastructure grants aid communities of color, e-commerce changes the way we shop and crawfish farmers struggle with the impact of record heat.
We keep a close eye on the price of oil because it feeds so many industries and hints at what’s coming for the global economy. And right now, the price of crude is going up along with gas at the pump. One reason is that OPEC is holding back on supply. Another: Spring is coming. We’ll explain. Also in this episode: The state of American steel, the rise of the AI training industry, and the Taiwanese roots of bubble tea.
Catastrophe bonds are a risky bet to make. But they offered returns of nearly 20% last year, Bloomberg reported. In this episode, we’ll cover why climate change makes these bonds more popular — and more lucrative. Plus: sporting brands have an overstock problem, large group reservations are hard to come by and ads on e-commerce sites make up a $50 billion industry
The February consumer price index is out — inflation was 3.2% year over year. That’s just a smidge higher than January. Still, prices in some sectors are down from a year ago. We’ll dig into the data, from price drops in furniture to still waters in apparel. Plus: the state of banking one year after the SVB fiasco and the future of addiction treatment in Oregon.
The Federal Reserve decided that our inflation goal is 2% annually. It hasn’t hit that level, but prices are relatively stable and the economy’s going strong, with a hot labor market and a growing GDP. In this episode, is the landing we have soft enough? Plus, inventory stories: Retailers have recovered from that early COVID supply backlog and more vehicles on dealers’ lots mean a different sales pitch.
When supply chains were backed up early in the pandemic, some businesses bulked up on warehouse space. Now that inventory is no longer a problem, what to do with the excess? And in the art world, some nonprofits are trying to buy real estate, which comes with benefits and financial hurdles. Also in this episode: COVID habits shape restaurant hiring and a bakery deals with rising costs.
A big antitrust law goes into effect today in the European Union. The Digital Markets Act is an effort to regulate Big Tech companies like Apple and Google. It’s designed to make the internet more competitive, but enforcement may prove tricky. Also in this episode: new retail subscriptions, the latest Beige Book insights, and a cowboy-skier-friendly sport.
One of many differences between President Joe Biden and and former President Donald Trump? How they talk about the Federal Reserve. While the central bank is supposed to be nonpartisan, that hasn’t stopped politicians from trying to influence it. In this episode, the Fed’s delicate political independence. Also in this episode: the cooling — but not cold — job market, an end of an era for middle-class retail, and a review of the IRS’ Direct File tax-filing system.
The U.S. produces more crude oil than any other country, but the number of active oil rigs has fallen by nearly 70% since 2014, the Energy Information Administration reports. How can that be? The answer is a combination of innovation and financial pressure. Plus, the non-alcoholic beverage market booms, the U.S. Patent Office decides AI can’t be credited as an inventor and household debt burdens are on the rise.
From “Oppenheimer” to “Poor Things,” 2023 boasted a bevy of Oscar-buzzworthy films. The ceremony isn’t till Sunday, but today we asked New York Times critic at large Wesley Morris for his best actor, actress and picture picks. He also talked about the life of a critic and how he goes about preparing to review a movie. Plus, testing is becoming more common in hiring.
The monthly mortgage payment on a typical U.S. home has nearly doubled since 2020, a Zillow report found. With mortgage rates hovering around 7%, that isn’t likely to improve much in the near future. Plus: Bitcoin investors finally see a thaw, new guidelines encourage the federal government to hire military spouses and a Chinese coffee chain’s apparent recovery from an earnings report scandal.
January’s personal consumption expenditures report showed that prices were up 2.4% from the same time last year, suggesting that inflation remains in a cooling trend. The report also found that incomes jumped 1% last month — the biggest monthly gain in three years. Plus, why some customers with high-yield savings accounts aren’t getting promised rates, what Chinese electric vehicle tech could mean for national security and how Florida farmworkers are enforcing heat protection standards.
U.S. gross domestic product grew at a 3.2% annual rate in the fourth quarter of last year, demonstrating the persistent strength of the economy. America is an outlier — at least for now — among world economies that have hiked interest rates to quell inflation. Plus: Some New York office towers are being repurposed and repopulated as apartment buildings, airlines are expanding routes between smaller cities and analysts say consolidation could settle the streaming wars.
The U.S. saw a boom in “entry level” homes for young couples post-World War II. Today’s housing market, and first-time homeownership, may be unrecognizable from the vantage point of the 1950s. In this episode, a look at the origins of starter homes and how sales agents are reframing the homebuying timeline. Plus, Macy’s announces a major pivot, CEO turnover cranks up and durable goods orders reveal where businesses stand on expansion.
Every time you swipe — or, these days, tap — your credit card, the merchant has to pay a fee. Some fed-up retailers are petitioning for more card fee regulation, but banks say consumers have plenty of choice as it is. Also in this episode: consumers’ moods versus economic data and pandemic purchases that buyers regret.
The failures of Silicon Valley Bank and several other institutions rank among the largest bank collapses in U.S. history. Almost a year later, small banks still face aftershocks. Also in this episode, traditional sports journalism is disappearing. Will accountability in the sports industry follow? And one couple finds financial freedom with an unusual real estate purchase.
Sustainable aviation fuel — an alternative to conventional petroleum — aims to decarbonize a carbon-heavy sector. Right now, it accounts for less than 1% of global jet fuel. Biden’s Inflation Reduction Act incentivizes aviation’s transition to SAF, but manufacturers still face big roadblocks. Plus, not all SAFs are created equal. This episode is part of our series “Breaking Ground,” where we look at how federal infrastructure spending might change the economy.
Overall, inflation has plummeted since June 2022, shortly after the Federal Reserve began hiking interest rates, and the Fed is getting closer to its 2% target. But consumer prices are still high. So why is it taking so long for the Fed to cut interest rates? “The Federal Reserve has been faked out before, where we thought inflation was licked, and then it flared back up again,” Neel Kashkari, president of the Minneapolis Fed, told us on today’s show. “That’s what we want to avoid.” Also: What to expect when Amazon replaces Walgreens on the Dow, how congressional budget fights threaten federal firefighters’ pay, and why the U.S. is selling its helium reserve.
If a $35 billion deal goes through, Capital One will purchase Discover and become the nation’s largest credit card issuer. But the bank isn’t in it for credit debt — it’s in it for Discover’s payments system. Also in this episode: why Walmart had strong sales last quarter and how states are preparing for a potentially contentious Election Day. Also, is the post-lockdown travel boom still on?
It’s a tough time to be a first-time buyer in the housing market. But it’s also tricky if you own a home and are looking to buy a new one, because your mortgage rate could roughly double. That “lock-in effect” is keeping housing inventory low and pushing prices higher. Then, we’ll examine why shipping costs are falling despite global disruptions and hear how steakhouses are trying to rebrand themselves.
Though inflation ticked up a bit in August, it looks like price increases are losing steam. Today, we ask what inflation could look like next year and what wild cards might be in play. We also investigate where all the G-rated movies went and why fish tacos are still about a buck at a San Diego restaurant chain.
New data released by the U.S. Census Bureau shows that median income fell last year while poverty spiked, as pandemic-era government benefits ended. Today, we do the numbers and discuss who’s been most affected. We also explore the impact of tech regulation in the European Union and look at why businesses are so glum. Plus: You’ve probably infringed several patents today.
Members of the United Auto Workers union could go on strike this week if contracts aren’t signed with Ford, GM and Stellantis. If no deal is struck, the Upper Midwest in particular could suffer major losses. Today, we’ll chart the potential impacts. We’ll also look at consumer expectations, fear of automation and the panic over retail theft.
Corporate bankruptcies have been on the rise for more than a year now, and the trend can have wide-ranging ripple effects. We dig into it. We also unpack the cooling labor market in the Weekly Wrap and look at the future of sustainable energy from the American home of oil and gas.
The Federal Reserve’s Open Market Committee meets in two weeks to determine if interest rates should change. Today, we hear from Chicago Fed CEO Austan Goolsbee on the odds of a soft landing for the economy and the data used to guide rate decisions. Plus, the inverted yield curve is an indicator of a coming recession. Could it be wrong this time? And later: Speed-dating makes a comeback.
Ever since the Federal Reserve began hiking interest rates, the value of the U.S. dollar has surged. For many other countries, that means debt has become costlier and it can be harder to prevent capital flight. So what are the options for central banks abroad? We also take the pulse of community banking six months after SVB’s failure and examine the fan fiction economy.
Saudi Arabia and Russia said they’ll stick with oil production cuts through the end of the year. The two countries are trying to prop up prices for their lucrative resource, and those prices surged after the announcement. We dig into the decision. Plus: More than 800,000 people are benefiting from student loan forgiveness. Then, the rise of “girl math” and other ways people justify their enthusiastic spending.
This has been a hot summer for labor organizing, and strikes — along with narrowly averted ones — have made headlines. This Labor Day, we chart the holiday’s history and examine the parallels between worker activism of more than a century ago and worker activism today. We’ll also do the numbers on labor, including women’s workforce participation and how hotels are hiring in a tight market. Later: the big business of wacky holidays.
Gross domestic product has been a global standard for measuring economic growth since 1944. But there’s a new push to measure economic welfare and well-being. Today, we’ll explore the history of GDP, all the things it can measure and all the things it can’t. We’ll also take a closer look at rebounding labor force participation and hear how small businesses are grappling with hiring hurdles.
The pandemic accelerated baby boomer retirement, and multiple sectors are struggling to find enough workers. Those challenges may persist for years to come. Today, we take a closer look at what some are calling an economywide labor shortage and what can be done to remedy it. We also hear from a White House economist who wants businesses to “step up and make investments” in the United States.
While U.S. gross domestic product didn’t grow as fast in the second quarter as initially thought, there are underlying signs of strength in the economy. And a lot of it is due to the American consumer, who keeps on spending. Good job! Plus, a view of China’s tourism recovery from the vantage point of a seafood market. Then, would you pay $500 a month for bigger, better Tinder?
Today, we learned that job openings fell in July. While it’s an indication that supply and demand in the job market are balancing out, there’s still a ways to go before that sought-after “soft landing” is achieved. Then, we turn to the housing market, looking at some homeowners who bypass high mortgage rates and others who bypass insurance. Later: the return of awkward business lunches.
It’s a big week for job data, including reports on the quits rate, private payrolls, layoff announcements and employment numbers. The Federal Reserve will be keeping a close eye on wage growth, and today we see indications that pay gains might be cooling. Then, the Texas power grid is strained by rising temps and growing cities, and companies invest in passenger rail.
How much should a sandwich cost? How about a fast food drink? A gallon of gas? Turns out, behavioral economics shapes how much we think something should cost and explains why it’s hard to adjust those prices for inflation. We also dissect Fed Chair Jerome Powell’s Jackson Hole Symposium speech and hear why squashing the last bit of inflation is so tricky.
Nearly every business had to pivot during the pandemic. But domestic manufacturing has been weak for a while now. On today’s show, we hear how businesses in the sector are looking to pivot yet again. Plus: the challenges faced by schools as pandemic funding ends, and the risks around chipmaker Nvidia’s dominance of a very concentrated market. Later: Wordle, but make it global trade.
The theme of this year’s Federal Reserve symposium in Jackson Hole, Wyoming, is “Structural Shifts in the Global Economy.” Today, we ask a handful of economists who aren’t sitting around the campfire with Jay Powell to weigh in. Then: Just half of CEOs see climate change as a threat to their business. And later: Could teaching more women poker narrow the boardroom gender gap?
Inflation is cooling and real wages are improving, which is good news. But after losing ground to rising prices for so long, low-income households are struggling to catch up financially, leaving them vulnerable to an economic slowdown. Plus, the U.S. dollar weakens as other countries hike interest rates, and the real estate refrain “you can always refinance” stages a comeback.
Wall Street is zooming in on Nvidia, which reports quarterly earnings this week. The chipmaker’s components power many of the generative artificial intelligence models that have surged in popularity, and its financial results will provide clues about the strength of the industry that runs on its technology. Also on the show: diminishing appetite for U.S. bonds, life in a fire lookout tower and vanishing tattoo ink.
It’s been a summer of record-breaking heat. Today, we’ll head to Houston to hear how a sizzling heat wave is impacting the health of its most vulnerable workers. Also on the show: The 10-year Treasury yield is climbing, as are 401(k) balances. Plus, are American tourists ready for a museum about the economy?
Leading economic indicators are stubbornly pointing to a recession that hasn’t shown up. They’re normally a strong signal that a downturn is on the horizon. Could they be wrong this time around? Then, why child care is likely to get even more expensive, how AI summaries could transform product reviews and how subsidized employment programs could fight racial inequity.
If the Federal Reserve chills inflation without tipping the economy into a recession — known as the elusive “soft landing” — what will that look like and what happens when we get there? We dig into the ideal outcomes. We also take a bite out of three slices of our economy: retail inventories, Fed decision-making and investors’ aversion to risk.
Economists at Goldman Sachs predict that the Federal Reserve could begin to pare back interest rates by the middle of next year. So what kind of economic conditions would warrant such a change after a historic series of hikes? We’ll examine. We also look at the state of the restaurant biz and what happens when you can’t afford to own a car but can’t afford not to.
American consumers keep on spending month after month — even as inflation and rising interest rates chip away at family finances and credit card debt mounts. But after several years of hardship and unpredictability, there’s still a lot to stress about. And it’s got us feeling spendy. Then, how Gen Z and millennials feel about investing and how waste plants pick through unsorted recyclables.
The cost of services helped push up the producer price index in July. But that increase likely isn’t a lasting one. Today, we’ll unpack the uptick. We’ll also dig into new home sales and oil demand. Plus, in the Weekly Wrap, what will it take to get consumers to feel better about the economy?
Many finance-focused artificial intelligence tools seem designed to make the jobs of human financial advisers easier, not replace them. At least for now. Today, we’ll map out how likely it is that AI will manage our money and pick our stocks. We’ll also dig deeper into inflation data for shelter and gas, then examine how aging populations could shake up the global economy.
China’s economic miracle isn’t going so well. Exports fell in July, and there are now fears of deflation. Could China’s political economy and the implementation of its zero-COVID policies be to blame for its current woes? We’ll also look at what WeWork’s continuing downward spiral means for co-working companies, and what it might take to convert office spaces to affordable housing.
It’s been nearly five months since the collapses of Silicon Valley Bank and Signature Bank sparked upheaval in the banking industry. But this week, Moody’s cut the credit ratings of several regional banks, citing problems related to rising interest rates and troubled loan portfolios. We’ll dive in. Plus, California trucking companies go electric, and a decline in China’s exports hints at a global spending slowdown.
After China lifted its zero-COVID policy, economists expected the economy to come roaring back. That hasn’t quite happened. Today, we zoom in on the reasons, including a pullback in consumer spending after a burst housing bubble. Then, why the UAW is asking for a 40% raise, why Black farmers feel left behind by the Agriculture Department and why car repairs are so darn expensive these days.
Is that a productivity boom we see on the horizon? It’s too early to tell if that’s the case, but the economic mood has clearly improved. Our Weekly Wrap panel parses the changes. Also, labor shortages in home health care, a dip in domestic travel and the cultural and economic impact of hip-hop.
Instead of buying another Porsche, some of the mega-rich are dropping $100,000 on new citizenship. These citizenship by investment programs have gained popularity since the 2020 election and pandemic, especially among bitcoin investors. Today, we delve into “the ultimate hedge” for wealthy Americans. Plus, why an uptick in productivity is good news for the inflation fight, and what to make of a slowdown in manufacturing.
The economy seems pretty strong right now: Inflation is moderating and consumer sentiment is up. In other words, the vibes are good. So is it possible we’ve skirted a recession? Or that the “vibecession” is over? Also on today’s program: claims of a superconductor breakthrough, AI’s impact on voice assistants and calls to end “scholarship displacement.”
According to the Job Openings and Labor Turnover survey for June, fewer workers are quitting their jobs and employers are hiring less. But is it all rock ‘n’ roll for the Federal Reserve’s inflation fight, or will it just end up rocky, with a recession? Turns out, the economic anthem of the moment depends on how you read the data. Then: freight shipping woes, Uber’s first-time profit and a blame game over Britain’s cost-of-living crisis.
While extreme heat bakes much of the country, the first new nuclear reactor to be built from scratch in decades just came online in Georgia. But the project took much longer and cost much more than planned. As the planet continues to scorch, will nuclear power catch on? Then, the perks of being a legacy student and a boom in spam texts.
It’s the final tour of Dead & Company, the Grateful Dead’s offshoot band. But what’s to come of the vendors and Deadheads who’ve followed the band for decades? Today, we hear about what a long, strange trip it’s been and what happens now that the show’s over. We’ll also examine the double-edged sword of consumer spending and unpack whether inflation might threaten brand loyalty.
Call a customer service line and odds are you’ll hear that “unusually high call volume” is making you wait. But automated messages and long wait times seem to have become the norm. We won’t put you on hold to find out why. Plus, the economy just keeps on growing and businesses stock up on inventory again.
Sure, today the Federal Reserve hiked its key interest rate to the highest level since 2001. But consumers are feeling much rosier about the economy lately, thanks to cooling inflation and a strong labor market. Plus, higher interest rates spell trouble for businesses, and a lack of investment in women’s soccer has debilitating physical consequences.
The CoreLogic Case-Shiller index of existing home prices, which came out today, shows that values are down from the year before, but the price trends vary across the country. Today, we trace their rise and fall. Then, what’s a fair price for artificial intelligence? And what Milton Friedman’s “long and variable lag” means in 2023.
Popularized by Milton Friedman in the 1960s, the phrase “long and variable lag” refers to the idea that it takes time for monetary policy to be felt in the economy, and the Federal Reserve uses it a lot. How did it go from concept to conventional wisdom? Today, part one of our answer. We’ll also outline a big week ahead for the world’s central banks and the ripple effects of a potential UPS strike.
We got retail sales and housing data this week, and there’s some optimistic news. Are these signs of a “soft landing”? The Federal Reserve hasn’t said — nobody wants to jinx it. We’ll examine the data and what it means for a potential Fed rate hike next week. Also on the program: a trip to a winery in southwest Germany and a famous pony ranch on Virginia’s Chincoteague Island.
Accessing medical records isn’t always easy for doctors, and the gaps and disorganization that result can pose serious risks for patients. Today, we hear what fragmentation means for our health care and what we can do to fix it. We’ll also examine whether the monthly Leading Economic Index is still a good recession predictor, and do the numbers on the Women’s World Cup.
Air conditioners are cranked and grids are straining as much of the country grapples with a heat wave. This is also the first summer Americans are eligible for expanded home weatherization tax credits, and we’ve got everything you need to know. Later, we’ll learn why Chipotle is expanding to small-town America and what worries legal pros about the spread of AI-powered tools.
We talk with experts every day about this chaotic economy, up to and including today’s new retail sales data. But years of mixed signals mean economists are sometimes just as confused as we are. On today’s show, we’ll get a bit meta and talk with them about it. Plus: What those retail sales numbers and a recent surge in loan rejections mean (or don’t?) for the economy at large. Later, we’ll talk with economics BA, former teen idol and new author Ben McKenzie about why Hollywood fell hard for crypto.
The world’s second-largest economy missed expectations this quarter. China’s gross domestic product grew 6.3% from the same quarter last year, and an anemic 0.8% since Q1. But what’s the right way to measure China’s economy? Today our Shanghai correspondent looks into it. But first, we’ll look at uneven inflation around the world and how Federal Reserve officials craft their public statements between market-moving meetings. Later, a check-in on the electric vehicle market as Ford slashes $10,000 off the price of an F-150 Lightning.
Yesterday’s landmark Ripple Labs ruling has both regulators and crypto boosters declaring victory. On today’s show, we’ll untangle the case and what it means for the government’s crypto crackdown. But first, is the soft landing finally here? We’ll recap a big week in economic news with our panel. Later, the culture wars holding up defense funding and a visit to Kai Ryssdal’s favorite Beijing vegetable stand.
Big banks start reporting earnings tomorrow, covering the first full quarter since the wave of failures in the spring. These reports can help you take the economy’s temperature, and we’ll tell you what to look for. Plus: After a year of disinflation, which price hikes were transitory and which are proving stubborn? Later, we’ll examine the modest debut of Major League Cricket and talk with a yacht broker about how much money she makes. (It’s less than you think.)
The consumer price index beat expectations for June, with prices rising just 3% annually. We’ll look at how the Federal Reserve will make its push for 2%. Then: Wage growth beat inflation in May and June for the first time in years, but economists say two months do not a trend make. Later, we’ll take stock of the recent seismic changes in markets and dig into a new food trend.
Remote work policies give employees flexibility to get the job done anywhere — usually anywhere within U.S. borders. Some workers are risking secret moves abroad to make their dollars go further — we’ll talk to a few, including one who got fired when his IT department caught on. But first, we’ll check in with small business owners and the ongoing accountant shortage. Plus: Have Major League Baseball’s new rules bolstered the brand?
“I believe there is a desire on both sides to stabilize the relationship” between the U.S. and China, Treasury Secretary Janet Yellen told us at the end of her first trip to Beijing. Kai Ryssdal sat down with Yellen at the American embassy to recap the trip, discuss the balance between national security and economic concerns, and examine her new role as economist-turned-diplomat. Later, we’ll meet up with China correspondent Jennifer Pak about how the country has changed in the past few years, and why state media frames America as in decline.
Treasury Secretary Janet Yellen met with the Chinese premier today. Kai Ryssdal is traveling alongside Yellen and gave us the view from Beijing. But first, we’ll talk with our panel of experts about this morning’s jobs numbers and examine the cyclical market for semiconductors.
A lot of people are anxiously waiting for tomorrow’s June jobs report. Especially the Federal Reserve. But today we got a lot of confounding, contradictory indicators moving up and down and all around this tight labor market. We’ll tell you everything you need to know. Plus: A look at the state of the car market, and a conversation with an artist who took a job in the Alberta oil sands to pay off her student debt fast.
Global temperatures were the highest ever recorded Monday … until yesterday, which was even hotter. More “hottest days ever” are coming, so today we’ll look at their economic impact. But first, we’ll examine the warning signs in commercial real estate and manufacturing. Plus: Meta’s audience gives its rival to Twitter an edge over the rest of the pack.
We know it sounds strange, but the Federal Reserve wants to see higher unemployment in Friday’s jobs report to show that its fight against inflation is working. Then, climate change isn’t making hurricanes more frequent, but it is making them more severe. What to expect from this year’s season. Plus, how a formerly enslaved man helped Black families build generational wealth. And later, feral cats for hire!
Thousands will become U.S. citizens tomorrow at special celebrations across the country. But high application fees make naturalized citizenship unattainable for some of the more than 9 million immigrants who are eligible. Plus, what to expect from Treasury Secretary Janet Yellen’s trip to China and this fall’s student loan repayment restart. Later: Christmas shopping? Already?
While the pace of price increases is slowing at home, today we’ll map out where inflation is fading, where it still hurts and where it’s actually welcome news. Also on the show: wading into the economic impact of the recent Supreme Court decisions in the Weekly Wrap and examining the FAA’s funding ahead of Fourth of July travels.
The Supreme Court decision to strike down race-based college admissions didn’t come as a surprise to many. Today, we examine the economic ripple effects the decision could have, shrinking the talent pipeline for businesses and making U.S. companies less competitive internationally. Plus, the Federal Reserve could use an infrastructure upgrade and what the Barbie Dreamhouse reveals about American culture and real estate.
President Joe Biden on Wednesday pitched his economic plan, which he’s branded “Bidenomics.” Remind anyone of “Reaganomics”? The association between the terms— and contrasts between the philosophies — may just be the point. Also on the program: a surge in labor action, electric grids at risk, discord within OPEC+ and racial bias in home appraisals.
New Case-Shiller data suggests that home prices are rebounding after a moderate dip, and that’s in the face of high mortgage rates. Still, the story is different in different regions. We’ll also examine Treasury Secretary Janet Yellen’s planned trip to Beijing, dig into the business of getting kids to school and look at a new law that aims to better protect pregnant workers.
American workers are stubbornly resistant to giving up working from home. That’s a huge problem for commercial real estate owners and the regional banks that finance them. So what happens when office buildings become ghost towns? Plus, China encourages young workers to move to the countryside, local governments look to employ gig workers and states attempt to modernize unemployment insurance services.
New data indicates that American manufacturing is shrinking. The index of leading economic indicators has been signaling recession for more than a year. But what about consumer spending? Or the tight labor market? We called up some forecasters to sift through this pile of data and talk about the challenges of predicting where the economy is going right now. Plus: We meet the AI chatbots that lawyers are already using and take a closer look at how the economic boom in Houston is leaving the working class behind. But first, our panel of experts recaps a big week for the Federal Reserve.
Today we’ve got stories about big decisions, from your local mom-and-pop to massive central banks. First, we’ll explore how the Federal Reserve takes cues from its counterparts around the globe on monetary policy and vice versa. Then, we’ll examine how small businesses raise their prices without access to reams of customer data. Plus: Amazon’s “dark patterns” and checking the obits for a new home.
At his biannual congressional testimony today, Federal Reserve Chair Jerome Powell stuck to his script on whether more interest rate increases are coming. Thing is, that script still has a cliffhanger ending. Today, we’ll try to parse Powell’s words. Plus, inflation hits a Brooklyn bakery and fears of industrial espionage plague the startup world.
Will the United States tip into a recession? That’s an open question. But it’s already happened to New Zealand, Germany and likely China. All of that economic trouble abroad could spell trouble at home. Then, why the housing that’s being built isn’t all that affordable, and how workwear went from functional to fashionable.
Black homeownership climbed early in the pandemic, with mortgage rates near historic lows. But the current prolonged period of higher rates has some economists worried about Black Americans’ prospects for wealth building. We’ll also examine what’s fueling homebuilders’ optimism, why water contamination is pervasive in Black communities and how the climate crisis is changing your morning cup of Joe.
It’s been about three months since the failure of Silicon Valley Bank sparked turmoil among regional banks. While the dust is somewhat settled, regional banks still have significant unrealized losses. Today, we’ll check in with some of those still standing. We’ll also discuss the road ahead for the Federal Reserve and examine the backlash against corporate backpedaling on LGBTQ support.
With persistent inflation and high interest rates, Americans have good reason to feel rather glum about the economy. Yet through it all, consumers have kept on spending, further evidenced by May retail sales. What gives? Also, why health insurance might get pricier and how streaming deals for live sports are changing the political ad game.
The Federal Reserve has signaled that it’s not done raising interest rates, but it pressed the pause button today. We’ll unpack the motives for Chair Jerome Powell and company and see whether existing economic data points toward an elusive “soft landing.” Plus, a contradiction in the mortgage market, a tale of two cities’ rising prices and a deeply personal exploration of the Black working class.
Inflation ticked down to 4% in May from a year earlier. While that’s well below its peak last June, it’s still double the Federal Reserve’s target of 2%. On today’s show, why the last leg of the Fed’s inflation battle might just be the trickiest. Also: persistently high used car prices, the shrinking U.S. money supply and the big business of cowboy art.
The Federal Reserve is expected to pause its program of interest rate hikes this week as it tries to whittle inflation down to 2%. But with annual price gains hovering at around 5%, economists are divided on whether 2% is the right goal anymore. Today, we delve into the debate. We’ll also look at jobs created by the Inflation Reduction Act and the child care hurdles posed by unpredictable work hours.
American consumers have racked up an eye-popping $990 billion in credit card debt, according to Federal Reserve data. That number is climbing alongside interest rates. Why are so many people reaching for plastic right now? We’ll also mull the likelihood of a Fed rate hike skip or pause and learn about the educational hurdles that worsen the nursing shortage.
General Motors, the largest U.S. automaker by sales, also wants to be the country’s leading electric vehicle company. On today’s program, we’ll hear from GM CEO Mary Barra about EV batteries, charging infrastructure and how the company plans to get America to drive electric. We’ll also learn why imports from China have slumped and why Texas is investing in battery capacity for renewable energy.
The Federal Reserve has tons of data to pore over before deciding whether to raise interest rates next week. Here’s one more: Research from employment website Indeed — a Marketplace underwriter — shows that wage gains are slowing and job postings are falling. We’ll discuss the impacts. Plus, why retailers rarely come back from bankruptcy and why we care about what CEOs think about the economy.
The Securities and Exchange Commission has sued two crypto exchanges, Coinbase and Binance. The cases pose an existential question: Are cryptocurrencies like securities, commodities or something else? The answer would dictate how crypto is regulated and could have far-reaching ripple effects. Also on the program: the closed IPO window, accolades for Indigenous cuisine and the entrepreneurial drive among immigrant women.
Saudi Arabia is cutting oil production by nearly a million barrels a day in hopes of boosting prices. Thing is, plenty of supply and weaker global demand could derail its effort. Plus, construction spending is a bright spot in U.S. manufacturing, office space owners reel from remote work, and Make-A-Wish plays catch-up on a backlog of Disney wishes.
The labor force participation rate for “prime working age” women has peaked. That’s a pretty big deal after a dramatic drop of working women — particularly mothers — during the pandemic. Today, we’ll look at what brought women back to the workforce so quickly. We’ll also outline what happens now that we’ve reached a debt limit deal and tally the costs of catalytic converter thefts.
Once Congress finalizes a debt limit deal, we’re in the clear, right? Well, the Treasury Department will have to raise roughly $1 trillion in the next three to six months by selling bonds to replenish its accounts and pay for the “extraordinary measures” it’s been taking. So what’s that mean for the economy? Also, a potential end to the “great resignation” and a conversation about tipping robots.
The debt limit deal brokered in Washington would reduce government spending by about $1.5 trillion over the next 10 years, according to the nonpartisan Congressional Budget Office. It may sound like a lot of money, but the effects will be pretty limited, economists say. We’ll also take a look inside what is billed as the world’s largest bitcoin convention. Plus, wage-price spiral … what wage-price spiral?
New business formation is still higher than before the start of the pandemic. But instead of ensconcing themselves in downtowns or central business hubs, many companies are popping up in surrounding neighborhoods. Today, we’ll take a bite out of growing, donut-shaped business developments. Also on the program: why consumer confidence has slipped, why international tourism is down and what’s behind the historically low Black unemployment rate.
President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement on raising the federal debt ceiling. But will it pass Congress? We’ll discuss and dig into the nitty-gritty of the deal. Plus, it’s a hot job market for prime-age workers. Then, a look at the complications of egg donations, courtesy of Marketplace’s “This Is Uncomfortable.”
The $24 trillion market for U.S. Treasurys — i.e., federal government debt — is the deepest and most liquid bond market in the world. It’s a linchpin of the global financial system and impacts consumer credit too. It also happens to be what’s at risk in the unfolding debt limit debacle. Plus, cities anticipate big Memorial Day crowds and the mermaiding industry preps for a wave of business.
Treasury Secretary Janet Yellen says that a government debt default could happen “potentially as early as June 1.” Kinda wishy-washy, huh? Today, we’ll examine why the variability in government spending and revenue makes it hard to calculate an exact default date. We’ll also look at what goes into credit ratings and how the writers strike is impacting an Atlanta-based costume coordinator.
On today’s show, we’re joined by Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, to discuss tightening credit conditions, the necessity of raising the debt limit, and why “we’re right at the beginning of the hard part” in the fight to tame inflation. Plus, AI is reshaping the computer chip industry and millions stand to lose Medicaid coverage.
Remote work has its benefits — no commute, no awkward elevator chitchat, no frigid office temperatures. But that also means no socializing at the office, and many young people who entered the workforce during COVID-19 are missing out on building the personal and professional relationships at work. Also on the program: a trip to an LA cheese shop and the disconnect between how consumers feel about their personal economies and the larger economy.
Federal officials are running out of time to reach a deal on the debt ceiling. But at the heart of that debate, there’s a fundamental truth about money itself. In this special episode, we’ll hear from a businessperson, a political scientist and a legal theorist about what’s at stake in the fight over the debt ceiling and what it reveals about the nature of money.
It’s been a busy month in the corporate bond market. And while you may think companies would hold off on borrowing right now given how much interest rates have risen, big mergers and the looming debt ceiling deadline could be among the reasons. Plus, an examination of the welfare-to-temp-work pipeline and a move by ESPN that could shake up cable.
2023 is on track to be the biggest year for Chapter 11 bankruptcy filings in over a decade. Some churn is always normal, but what’s behind this year’s bankruptcy boom? Also on the show, we look at how a debt default would play out in Texas, how social media ads get us to click “buy,” and how climate change is hitting one pistachio farm.
Housing starts have ticked up recently. New homes have also been gobbling up an increasing share of the overall market, as current homeowners opt to stick with their low mortgage rates. Today, we examine the demand for new homes. We’ll also explore the expansion of retailer discounts, a new measurement of the U.K.’s debt and a roommate-matching site for aging boomers.
April retail sales numbers are making an already confusing economy even more confusing. Folks are putting off purchasing big-ticket items, yet are still splurging on services. The economy hasn’t returned to normal, but maybe “normal” is different now. We’ll also look at whether Congress can regulate artificial intelligence and who gets a leg up from welfare reform and work requirements, courtesy of Marketplace’s podcast “The Uncertain Hour.”
So far this fiscal year, the IRS has brought in about $2.7 trillion in tax revenue — $250 billion less than anticipated. That shortfall is part of what makes this week’s debt limit talks so urgent. Today, we sort through the tax receipts. Plus, why clawing back unspent COVID funds will hardly dent the deficit and why the banking bust may fuel the rise of “shadow banks.”
When the Federal Deposit Insurance Corp. stepped in to make depositors whole after recent bank failures, the agency’s insurance fund took a $15.8 billion hit. So who’s on the hook to replenish it? If the FDIC has its way, it’ll be the nation’s largest banks. Also on the program: smaller tax refunds, an alternative solution to bank runs and a potential boon to private prisons.
As the pandemic-era border policy Title 42 draws to a close today, an increasing number of migrants have arrived at the U.S.-Mexico border. Whatever their reasons for leaving their home countries, immigrants are drawn in part to the United States because of the strong economy. Also on the program: what producer prices can tell us about where consumer prices are headed, and what to make of rising jobless claims.
Inflation is wearing consumers down, and it’s starting to show. We’re saving less, putting more on plastic and seeking out discounts. On today’s show, we dissect consumer fatigue. Then, we’ll hear what it’s like working at a rural hospital during a health care staffing shortage and examine how lenders that serve Native Americans are responding to proposed federal certification updates.
Unless officials in Washington strike an agreement to raise the limit, the U.S. could default on its debt as soon as June 1. Wall Street has been taking all this in stride, but will that change, and when? Also on the program: regional variations in inflation, a wet winter in the Corn Belt and the staying power of remote mental health care.
Last year, Marketplace met families of transgender children in Texas who were weighing their options when the state moved to restrict gender-affirming care. As more states target LGBTQ rights, we check back in with two families — one who moved and one who stayed — and tally the costs of both. Also, airlines go on hiring sprees, shipping companies reroute goods and high interest rates squeeze smaller hospitals.
Some aren’t saving for retirement, while others aren’t saving for or staying in college. Today we’ll hear from a handful of artificial intelligence true believers who think a revolution is inevitable and are preparing for a future — and economy — that looks radically different than the one we now live in. We’ll also examine why the U.S. has so many banks and why insurers are going on hiring sprees.
The shares of multiple regional banks slid today amid new tremors in the industry following the collapse of First Republic. But bank failures and consolidation are actually somewhat normal. So what’s a regional bank to do? And what are investors and depositors to make of all this? Then, how JPMorgan CEO Jamie Dimon became a banking industry heavyweight and why a bump in Federal Deposit Insurance Corp. coverage seems unlikely right now.
So many regulations came out of the 2008 financial crisis, and for a good while they seemed to work. Yet here we are with three bank failures in less than two months. What gives? Plus, we unpack what Federal Reserve Chair Jerome Powell did (and didn’t) say about today’s rate hike and find out what happens to all the things people throw into recycle bins.
After three major bank failures, regulators and industry leaders are hoping all this turmoil fades in the rearview mirror. But there’s still likely to be curves on the road ahead: new regulation, industry consolidation, branch closures and loan scarcity. Today, we’ll map it out. Then, how brands like Victoria’s Secret stage comebacks and an exploration of work requirements for welfare, courtesy of the Marketplace podcast “The Uncertain Hour.”
Banking giant JPMorgan Chase is taking over the failed First Republic Bank, but not without some guarantees. Turns out the deal was sweetened by the FDIC agreeing to be responsible for certain First Republic losses. Plus, what small banks are making of the turmoil. Then, FTC Chair Lina Khan on AI regulation and taking on powerful companies.
First Republic Bank stock is down 97% in 2023, and this afternoon a takeover by the Federal Deposit Insurance Corp. looked imminent. Thing is, short sellers have made more than $1 billion betting that First Republic would fall. Is that good for financial stability? Plus, we’ll look into the “We buy ugly houses” business and discuss how new economic data will influence the Federal Reserve’s next move.
That’s the trillion-dollar question right now. Gross domestic product expanded by 1.1% in the first quarter, continuing a downward trend. Consumers are still driving growth, but inflation is wearing on them. So where does the American economy go from here? And later, private equity’s outsize impact on the economy and the vital role of seasonal foreign workers in landscaping.
On today’s show, Lael Brainard — the former vice chair of the Federal Reserve and current head of the National Economic Council — sits down with us to chat about fiscal policy, inflation, banking regulation and the looming debt ceiling crisis. We’ll also tackle durable goods spending, a blocked tech merger and the school superintendent pipeline.
Congress passed billions in funding for semiconductor manufacturing last year. Today, we’re joined by Gina Raimondo — the woman in charge of distributing those funds — to dig into what is at stake. And later: Treasury proposes new regulations on nonbanks, leisure travel roars back and more strikes loom in the U.K.
Sales of high-thread-count sheets and countertop appliances weren’t enough to save Bed Bath & Beyond, which filed for bankruptcy this weekend. What’s to become of all those soon-to-be-empty strip mall storefronts? Plus, why the dollar is dragging, what happened to Alibaba’s Jack Ma and lessons in college credit card debt courtesy of Yanely Espinal, host of Marketplace’s new financial literacy podcast, “Financially Inclined.”
It’s a weird time for retailers. Some have announced layoffs and closures, while others are looking to expand their footprint. So what gives? Turns out, some stores are hoping to use this shaky economic moment to come out ahead during either a downturn or a recovery. Plus, politics and markets meet in the Weekly Wrap, and Indigenous creatives carve out space for Native perspectives in gaming and cosplay.
Political squabbling about raising the debt limit is well underway. But to meaningfully address federal debts and yearly deficits would require big actions. Elected officials could raise taxes and chip away at things like defense spending, Social Security and Medicare — but doing so isn’t popular. We’ll also dig into coal’s decline, investment in technical training and Britain’s new trade deal.
The intensity of a possible economic slowdown will depend on how much banks tighten credit conditions, said Austan Goolsbee, president of the Federal Reserve Bank of Chicago, in an interview with Marketplace today. We’ll ask about data he’s watching closely and the central bank’s messaging challenges ahead of its rate decision. Later, Reddit rethinks data access and California utility companies rethink how they charge for power.
After this year’s banking crisis, some lenders have bumped up interest rates on savings accounts to lure new depositors. But if the hassle of switching banks makes you go, “ugh,” blame it on what economists call “deposit stickiness.” What would it take to get customers unstuck? Plus, Netflix’s failed foray into live-streaming, and the origin of the modern welfare system, courtesy of the Marketplace podcast “The Uncertain Hour.”
House Speaker Kevin McCarthy said today that “defaulting on our debt is not an option,” but neither he nor the White House shows signs of compromising. The last debt limit stalemates drove up the cost of government borrowing — and that’s happening again. Plus, what if you paid your taxes in cash, and what’s behind layoffs at Walmart and Best Buy?
We got seriously mixed signals from the consumer economy today. Retail sales dipped in March, while consumer sentiment ticked up. Is this economy headed for a soft landing or a cliff? Today, we parse the good, the bad and the downright confusing. We’ll also take the pulse of bank borrowing and check in on seasonal hiring ahead of higher-temps season.
The phrase “too big to fail” conjures images of the 2007-08 financial crisis. But the notion that the collapse of certain financial institutions could torpedo the larger economy goes back much further. On today’s show, we’ll trace the roots and evolution of “too big to fail.” Plus: earnings reports from TBTF banks, new car prices and the rebranding of milk.
You take them both and you get the March inflation report. The consumer price index rose 5% year over year. That’s a decent “headline” number, but dig deeper and the story gets a little more complicated. Later: military recruitment, grocery bills and long-term career prospects for workers who have struggled with depression.
You know what a lot of people do when mortgage rates are too high to buy? They stay renters. And despite slowing rent inflation, that additional demand for apartments can increase competition and boost rent prices. Today, we delve into the connection between rates and rents. Also on the program: potholes, pickleball and the love of background TV shows.
There’s some welcome news on the inflation front: Prices for online goods are falling, according to Adobe Analytics. While it’s a bit of relief for consumers, higher prices for things like services may be here to stay. Plus, how algorithms are used to pay ride-hailing drivers less, what an immigration uptick means for the labor market and a look at how COVID-19 transformed business in downtown Boston.
The U.S. Department of Agriculture is mulling new nutritional standards for school meals, and everyone’s got opinions — from the manufacturers who say the changes will make food pricier to the schools that would absorb the costs. Then there’s the students, who have to stomach it all. We’ll also delve into the Gen Z divide in labor participation and the pandemic’s macroeconomic curveballs.
It’s been nearly a month since banking turmoil hit the headlines. While the government’s response has largely focused on insuring depositor funds, we’re starting to see signs that banks are pulling back on making loans. Plus, slowing wage gains, rising car prices and hurdles to tribal broadband access.
The countdown is on till Tax Day, which falls on April 18 this year. But many Americans will be in for an unpleasant surprise: a slimmer tax return resulting from expired pandemic tax credits. We’ll also examine why money market funds are popular right now, what “due diligence” means, and what ingredients go into TikTok’s favorite Starbucks order: the Barbie drink.
Job openings dropped in February, according to the Bureau of Labor Statistics. While that’s normally not great news, it could be a hint that the Federal Reserve’s interest rate hikes are beginning to take effect, cooling job growth and bringing the economy back into balance. Plus, the pushback against remote work, a return to just-in-time inventory and waning trust in Argentina’s financial institutions.
The OPEC+ cartel surprised markets this weekend with plans to cut oil production by more than 1 million barrels per day. This classic story of supply and demand has already pushed up the oil price, and it could have major ripple effects across the global economy. Plus, hot job markets in Sunbelt cities, a merger in the world of wrestling and the origin story of “bootstrapping.”
Banks borrowed less from the Federal Reserve’s emergency lending programs this week than the week before, a sign that the threat of additional bank runs could be waning. One of those programs is called the discount window, and banks really try to avoid it. We explain why. Plus, a big change in the oil world, and an exploration of the welfare-to-work industrial complex from the latest season of Marketplace’s “The Uncertain Hour.”
The Inflation Reduction Act channels hundreds of billions of dollars into clean energy projects. But “electrifying America” could be short-circuited by the nationwide shortage of electricians. Today, we’ll hear from the companies and programs hoping to draw a new cohort of electricians to the field. Also, a preview of tomorrow’s economic data dump, a short-lived urban exodus and five child care workers on the industry’s joys and challenges.
Spring is when flowers, and For Sale signs, tend to start popping up. Today we learned that pending home sales rose for the third straight month in February, which seems puzzling given climbing interest rates. Could it signal a thawing housing market? Plus, a look at the debate about public funds for home-schooling and how a tight labor market benefits the poorest workers.
On this program, we’ve discussed a somewhat confusing dynamic: Consumers are sour on the economy despite a job market that’s historically strong. Today, we’re joined by Washington Post columnist Catherine Rampell to help piece the puzzle together and tally inflation’s mental and financial tolls. Plus, why recent banking turmoil may slow nonresidential construction and what one reporter learned walking from Washington, D.C., to New York.
Bank regulators will be heading to Capitol Hill this week, where they’re likely to be grilled by lawmakers over the recent banking turmoil. But they also have to reassure markets and the public that everything’s going to be all right — because if depositor fears escalate, that could spawn yet another crisis. Plus, it’s boom time for certificates of deposit, and anxiety about commercial real estate loans looms over regional banks.
The Federal Reserve will release a report by May 1 on what happened at Silicon Valley Bank. A key part will be how bank examiners, the government employees who monitor a bank’s safety and soundness, supervised SVB. Today, we’ll look at what a bank examiner does — and doesn’t. We’ll also map new home sales and head back to college with some midlife students.
Long gone are the good ol’ days when inflation was described as “transitory.” This month marks one year since the Federal Reserve started raising interest rates to curb inflation, and we chart the relationship between rates and prices, and take stock of where we are. Plus, why some central banks follow the Fed’s lead and how small businesses are responding to banking turmoil.
One way the Federal Reserve oversees the banking system is through “stress tests,” which help determine whether banks can withstand economic disasters. But only the biggest banks are required to undergo these tests. Could Silicon Valley Bank’s collapse change that? We’ll also unpack Fed Chair Jerome Powell’s rate hike remarks, check to see who’s currently hiring and gauge reactions to anticipated charges for COVID-19 vaccines.
A simple economic phenomenon — that rising interest rates push bond values down — is part of what has weighed on financial companies like Silicon Valley Bank. We’ll take a closer look at the relationship and examine how the Federal Reserve’s rate hikes may have contributed to the current banking drama. Then, we’ll hear why the lowest rents are rising the fastest and what the end of additional SNAP benefits means for one mother.
The debacles that engulfed Silicon Valley Bank and other precarious financial institutions have sparked debates over who dropped the ball. Was it a regulatory failure, a supervisory failure, or both? On today’s show, we’ll parse out the answer. We’ll also explore what comes next for Swiss banking, what a Supreme Court case means for Navajo water rights and what small banks are doing to address liquidity concerns.
Back in the ’30s, news of bank collapses traveled slowly. But in the early hours of Silicon Valley Bank’s collapse, the news spread like wildfire through startup messaging chains on WhatsApp, Slack, Signal and Telegram. Today, how rumors and anxiety contributed to SVB’s downfall. Plus, grocery bills bum consumers out more than banking meltdowns and China’s population decline has far-reaching repercussions.
“Financial conditions” influence the cost of money, and they’re being made much more complicated by recent bank collapses. Today, we’ll delve into how tightening financial conditions influence the Federal Reserve’s next moves and could make it harder for small businesses and consumers to get loans. Plus, why COVID may have fundamentally reshaped how we spend and what the Silicon Valley Bank collapse means for venture capital.
Following the meltdowns of Silicon Valley Bank and Signature Bank, Europe’s Credit Suisse is now in trouble. Though the Swiss bank’s problems predate the recent U.S. bank failures, some economists are asking whether the malady at Credit Suisse can or will infect the rest of global finance. We’ll also take a closer look at the role of regional banks and the communication tactics some are using to quell customer anxieties.
As we follow the implosion of Silicon Valley Bank, we’ll examine the parties involved in regulating finance — both state and federal — and what changes may emerge from the meltdown. We’ll also check in with a former Federal Reserve official who oversaw reforms and ask him to chart a path forward for Washington. Plus, shelter costs continue to drive inflation and cowhides help predict the economic future.
Add the spectacular collapses of Silicon Valley Bank and Signature Bank to the lengthy list of consumer concerns. Bank failures like these don’t just rattle their depositors, they stoke anxiety in everyone who hears about them. Today, we’ll feature special coverage of SVB’s demise — how Washington is responding, the ripple effects on other banks and what it all means for average consumers.
Silicon Valley Bank, where many startups got their funding, is now in the hands of the FDIC after a collapse. On today’s program, we’ll take a closer look at the factors that spelled disaster for the bank and if other financial institutions are at risk. Also on the program: demystifying Federal Reserve Chair Jerome Powell’s congressional testimony in the Weekly Wrap and a silver lining in an unemployment uptick.
The Federal Reserve has unleashed eight interest rate hikes in the past year, yet the economy doesn’t seem to be taking the hint. With unemployment at historic lows and consumer spending still robust, is monetary policy able to slow the economy any longer? And if not, what more can the Fed do? Plus, U.S. exports reached record highs in January and customers seeking retribution take to Yelp.
That’s how one economist described today’s job openings report. The number of available jobs remains high but is on the decline, as is the number of people who’ve quit their gigs. It indicates that the Federal Reserve’s efforts to cool the economy are working — at least in certain industries. Plus, converting office buildings to apartments, parsing the importance of seasonally adjusted data and gaming our way to a balanced federal budget.
Can we rein in inflation without unemployment surging? Though it’s an open question, one route to avoiding layoffs is for companies to accept lower profit margins and absorb additional costs. But whether they will is a whole ‘nother question. We’ll also unpack Day 1 of Fed Chair Jerome Powell’s Capitol Hill testimony, look at the workforce gap left by pandemic-era retirements and visit one of Los Angeles’ newest lesbian bars.
A new study finds that gender inequality costs the global economy $7 trillion per year. Today, we’ll take a closer look at the roadblocks that persist for women and how addressing them could benefit everyone. We’ll also hear what’s on the docket for the economic week ahead, examine the demographic shifts in trucking and see whether the gas stove debate will heat up the induction market.
A special game license allowed Dungeons & Dragons fans to create additional storylines and characters — and make money off of them. But when parent company Hasbro looked to change D&D’s license to get a cut of third-party profits, fans fought to protect the role-playing game community and economy. Plus, in the Weekly Wrap, the specter of layoffs and legislation aimed at boosting teacher pay.
This week, Treasury Secretary Janet Yellen visited Kyiv to underscore U.S. support for Ukraine. Today, Yellen joined “Marketplace” host Kai Ryssdal to chat about her trip, the “moral obligation” to aid Ukraine and the impact of sanctions on Russia, as well as domestic economic concerns — from the politicization of the debt ceiling to cooling the labor market. Plus, what an inverted yield curve foretells and where consumers are cutting back.
There’s a running assumption that a strong labor market and wage growth will make it harder to slow rising prices. But how much does wage growth need to slow to get us to normal levels of inflation? Today, we’ll do the numbers on what economists say is ideal wage growth. Also on the program: rising loan balances, growing hurricane risks and the sound of a $10 million violin.
The average consumer is hungry — to go out, that is. Sales at restaurants and bars are up nearly 25% since last January, but that spending surge coincides with dimming consumer confidence. What can all that going out tell us about the economy more broadly? Also on the show: bans on American investments in China, TikTok’s numbered days on government devices and Tubi’s CEO on ad-supported streaming.
The Federal Reserve’s original job was to help the U.S. avert financial meltdowns. But propping up the pandemic economy forced the central bank to do some “soul searching.” Today, we’re joined by The New York Times’ Jeanna Smialek to examine the Fed’s history and its shifting role in the modern economy. Also, recession predictions are all over the map, and low housing inventory fuels new home construction.
The United States and European nations have committed billions of dollars in military and humanitarian aid to Ukraine since Russia’s invasion one year ago. But there’s also a cultural dimension to the conflict. Today, we’ll hear from Ukrainian artists at home and abroad who are fighting to preserve their cultural identity. Plus, the Federal Reserve has more work ahead to reel in inflation, and consumers kept squirreling away savings in January.
The American civil rights movement was about more than attitudes around racism. It also fought to expand workers’ rights and access to housing and good jobs. We’ll chart the economic agenda the movement outlined decades ago, which is sometimes left out of the conversation today. Plus, a look at how gross domestic product figures get revised and what a drop in unemployment claims says about the job market.
Interest rates on government debts are set by where the market thinks the economy is headed. Fed rate hikes and a disappointing inflation report have pushed bond yields higher. Today, we’ll look at what they’re telling us about the future of the economy. Plus, more stores accept SNAP for online groceries, more school principals are quitting or retiring, and a Los Angeles distillery bets on more nonalcoholic spirits sales.
Economists have been placing bets on how bad a recession might be — if there is one. But retailers have to decide what to buy and how much based on where they think the economy is headed. How are sellers coping with the unknown? Also, what the Supreme Court case involving Google could mean for Big Tech, and why online shopping led to the death of “smart shopper.”
American consumers are spending lots — and putting it on plastic. Credit card debt has climbed to a record of $986 billion, according to the New York Fed. Is this a return to pre-pandemic, “normal” spending habits or a worrying sign about the economy? Or both? We’ll also check in on Presidents Day shopping, examine a new carbon capture technology and hear how the climate crisis is threatening Europe’s ski industry.
Surveys show that Americans are concerned about the economy and inflation, yet retail sales remain strong. What’s behind the mismatch between what people are saying and how they’re spending? We, like the American consumer, try to make sense of it all. We’ll also interrogate how “bumpy” the road to disinflation is, see which home renovations are worthwhile and check in on the Valentine’s Day chocolate rush.
The debt ceiling dance is well underway in Washington and the Treasury is taking “extraordinary measures” to avoid a default. House Speaker Kevin McCarthy has compared the federal budget to a household’s credit limit, but that’s like comparing apples and oranges, or maybe apples and the Pentagon. Today, we’ll outline why. Plus, what wholesale prices indicate for consumers, who’s hiring amid a slew of layoffs and what’s at stake in the upcoming farm bill.
From “Succession” to “The Menu” and “The White Lotus,” Hollywood is producing plenty of films and shows that let viewers watch rich people suffer. America has always been obsessed with wealth, but those portrayals are changing. Why? We’ll also do the numbers on January retail sales, hear why all-cash home offers are on the rise and see why Tesla is expanding use of its EV charging network.
What’s in your shopping basket may not be the same as what’s in the metaphorical basket of goods used to calculate the consumer price index. But the Bureau of Labor Statistics is updating its formula to more accurately capture changing prices. Today, we’ll look into the math. We’ll also parse the difference between fiscal and monetary policy and revisit the personal economies of Ukrainian refugees.
We’ll get the consumer price index for January tomorrow. Though inflation appeared to ease at the end of last year, the report comes at a “really critical time” for the Federal Reserve, the markets and consumer expectations. Will inflation continue to lose steam? Plus, sanctions complicate remittances to Syria, Europe enjoys a sunnier economic forecast and we look at how accusations and family drama rocked CBS and Viacom.
Surveys of Americans’ economic outlooks are coming up with contradictory conclusions. Some consumers report being worse off than they were a year ago, while others are feeling optimistic. What’s behind the split? We’ll also break down the prospects for a soft landing in the Weekly Wrap, consider what 2023 may look like for initial public stock offerings and delve into why Black communities are frequently targeted by predatory financial products.
Wellness has became an even bigger concern during the pandemic, as well as a bigger business. The last couple of years have been good for sales of vitamins, supplements and apps to help us sleep, stick to our diets and be more mindful. With hype reaching new levels, the Federal Trade Commission has decided to address the industry’s marketing ills. We’ll perform an examination. Plus, Disney rethinks its content and cost-management strategies, and fresh unemployment claims data underscores the strength of the job market.
The American labor market has been on a roller coaster in the past few years. While what we do for work looks different today from pre-COVID times, it’s not done changing. We’ll do the numbers on the industries that saw the biggest job gains in 2022 and the ones still lagging. Plus, what it would take to reach a balanced budget and why consumer debt is growing but slowing.
Today, Microsoft unveiled how it will incorporate ChatGPT’s generative AI tech into its search engine, Bing. That could spell trouble for publishers and content creators, as well as the advertisers that rely on searches and page views. We’ll examine some of the potential impacts and pitfalls. Also on the program: A strong dollar spurs imports, accounting has a personnel problem and the class of NASA astronauts that diversified space travel.
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Despite the Federal Reserve’s interest rate hikes, the U.S. economy hasn’t soured as much as many forecasters expected. And with falling energy prices, slowing inflation and the waning economic impact of COVID, the global economy’s outlook may be getting sunnier too. Plus, what the Census of Agriculture can tell us, the power of solar and why shows are disappearing from streaming platforms.
Last year was hard on cryptocurrency, with scandals and plummeting prices rocking the industry. Those losses were particularly keen for Black Americans, who are more likely to get into crypto than their white peers. Today, we’ll explore how targeted marketing and exclusion from traditional investment opportunities helped boost crypto’s appeal for Black investors. Also, the major takeaways from today’s strong jobs report and its impact on bond yields.
Last week, office occupancy rates in major cities hit a milestone, reaching half of their pre-pandemic levels. While most places feel just as crowded as they did before, offices are an exception. Today, a closer look at the sluggish return to office buildings. Plus, the house behind the pitchfork in “American Gothic” and how homebuyers are feeling about higher mortgage rates.
We’ve frequently discussed the “great resignation” on this program over the past year as people have sought new jobs with better pay and benefits. But as recession worries loom and wage growth moderates, quitting and hiring rates have begun to decline. Also on the program: The Federal Reserve hikes interest rates for the eighth time, retailers follow consumers to the ‘burbs and Bed Bath & Beyond hints at bankruptcy.
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New Labor Department data shows that wage growth slowed to 1% last quarter. That may not sound too rosy for workers, but it’s welcome news to Federal Reserve officials, who are mulling additional interest rate hikes as they try to deflate wage growth and keep unemployment under control at the same time. Also, the continuing pull of cookbooks, the billions in unclaimed college financial aid and the impacts of rising prices on wedding planning.
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Many CEOs and economists anticipate a recession this year. But their predictions, based on economic data and historical trends, are part art and part science. Today, we’ll dig into how those forecasts are made. Plus, why inflation varies depending on where you live, how business owners in China feel about reopening and how lawmakers’ pay, or lack thereof, influences who serves in government.
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The American consumer saved more and spent less in December, cutting back on restaurants, movies and sporting events. Will that slow inflation? We’ll talk about that on today’s show. Plus, the confusing economy, who holds U.S. debt, and what’s behind the growing business of liquidation.
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Economists often see both good and bad news in economic data. Today’s gross domestic product report was no different. The economy grew by 2.9% last quarter, which was more than expected, but there are some signs of a slowdown. Today, we’ll examine the two sides of the GDP coin. Then, we’ll tour a Costco returns warehouse in New Jersey and visit a co-working space in Seattle.
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Today, the White House announced a slew of actions aimed at helping renters. Though we’ve seen recent glimmers of a cooling rent market, the national median has shot up more than 20% since 2020. So how do landlords set rents in the first place? We explore. Then, we’ll examine the limitations of the Federal Reserve’s preferred inflation measure and visit an irreverent beverage company making canned water cool.
After being fueled by a surge in pandemic demand, the manufacturing sector is showing signs of cooling off. Production and hiring in the industry slowed toward the end of last year. Today, we’ll take a look at what’s driving the manufacturing decline. Plus, why copper prices are rising, how commercial lending is faring amid high interest rates and where the streaming economy is going.
Tech and finance companies have announced major job cuts recently, yet the unemployment rate hit at a 50-year low in December. What gives? The answer lies in the still-tight job market and the hassles of dealing with outdated unemployment systems. Then, why business economists are less glum about the economy and why big banks want to get into the digital wallet biz.
Immigration to the U.S. dropped dramatically in recent years as a result of the pandemic and policy at the border. That immigration slowdown translates into lost workers, and that workforce shortage has contributed to inflation. On today’s show, we look at why immigration is a labor story. Plus, unpacking the debt limit and the Fed’s messaging in the Weekly Wrap and revisiting the affordable housing crisis.
It’s a question that the Federal Reserve’s board of governors is weighing. Backing off too soon means prices could keep rising, but continuing to raise interest rates aggressively could spawn a recession. Today, how the Fed is thinking about its next move. Also on the program: the debt ceiling’s origins, esports’ business struggles, and why Party City filed for bankruptcy.
A new report from the New York Fed shows that inflation makes a bigger impact on the budgets of people of color and low-income workers. Today, we dig into why inflation and the higher interest rates used to tame it feel different depending on who you are. Also, why the Bank of Japan is maintaining low interest rates and how businesses are welcoming back festivals like Sundance.
Consumers are expected to spend more cautiously in the year ahead as they contend with rising prices and a potential looming recession. Today, a look at where shoppers are willing to put their money and how businesses are adapting to a changing consumer climate. Plus, three real estate agents reflect on the cooling housing market, and an economist argues inflation isn’t as bad as it seems.
Martin Luther King Jr. was assassinated in 1968 after speaking with striking sanitation workers. Since then, union activity had waned — until recently. On today’s show, we explain why. Also: The rich got richer during the pandemic, and authentic Native designs take on knockoffs.
On Thursday, the Securities and Exchange Commission announced it’s suing two crypto exchanges. The move marks the latest in the federal government’s continued effort to crack down on the cryptocurrency industry. But without comprehensive rules to guide them, what’s it like regulating the unregulated? Plus, we’ll unpack the Fed’s communication challenges in the Weekly Wrap and dig into how big banks are prepping for an economic downturn.
It’s inflation day here at Marketplace HQ, and we’re taking stock of the latest consumer price index. We start with the big picture and look at how the pace of rising prices slowed in December. Then, we’ll get into the granular details of inflation, from housing costs to the price of cookies. Plus, how Black farmers are planting seeds for the next generation and how consumers in China are spending after zero-COVID.
The World Economic Forum is warning of a “polycrisis,” with major geopolitical and economic threats compounding one another. Talk about a gloomy picture, huh? On today’s show, we’ll unpack the predictions. Also, a tale of two state budgets, an experiment in virtual nursing and a big bank backs away from the mortgage biz.
Russia’s primary export grade of crude oil is trading at less than half the global benchmark price, thanks to a price cap and European embargo. But whether those sanctions will work in the long run remains an open question. Today, we dive in. We’ll also look at a proposed student loan repayment plan, the relationship between food insecurity and health care spending, and the impact of defunding the IRS.
This week, we’ll get Q4 earning reports for big banks, like JPMorgan Chase and Wells Fargo. Economists will be eyeing those balance sheets for hints of where the economy is and where it may be headed. Then, what a proposed noncompete ban would mean for lower-wage workers, what’s behind a right-to-repair win for farmers, and what goes into elevating homes to protect them from flooding.
Workers have enjoyed healthy earnings increases in the past year, but tucked into today’s jobs report was data showing that the pace of those gains is moderating. Though it’s welcome news for the Federal Reserve’s inflation fight, it also means that workers’ pay continues to trail the rise in prices. Plus, the winners so far of the electric vehicle boom, a California law incentivizes worker-owned businesses and the perks (and drawbacks) of living with your parents at 24.
Amazon and Salesforce are among the companies to recently announce major staff cuts. Layoffs are often one of the first ways employers curb costs, but they can jeopardize a company’s public image and employee goodwill. Today, we’ll look at how firms choose who stays and who goes. We’ll also check in on faltering import and export trade, an uptick in corporate borrowing and the whiplash effect of China’s “zero-COVID” policy.
On New Year’s Day, 23 states raised their minimum wage, benefiting an estimated 8 million workers. But pay scales have already been rising in a tight labor market. Today, a look at where minimum wages stand in a job market that economists expect to weaken. Also on the show: Small business layoffs tick up, social media shifts how we spend and a Louisiana town elevates homes to evade flooding.
A tight labor market is always a positive thing, right? While it can be good for wages, those unfilled jobs can limit productivity and economic growth. Today, a look at the risks of an economy with missing parts. Then, what’s in store for Big Oil after a profitable year, why demand for cars is softening and what’s behind Gen Z’s proudly pro-union stance.
Yesterday, California expanded a privacy law requiring companies to disclose the data they collect from consumers, how it’s used and who it’s shared with. Those requirements now apply to employers too. Today, a look at what it means for companies in the state and beyond. Also on the program: a discussion of the Federal Communications Commission’s new broadband availability map and a look at treatment for substance abuse disorder and its impact on the workforce.
Today, we’ll look back at the major economic stories of the year and lay down some predictions for 2023. The biggest throughline? Inflation, the Federal Reserve’s interest rate hikes and the ripple effects of both. We’ll also see whether Southwest Airlines can regain customers’ trust and whether coal’s comeback in Europe can last. Plus, we’ll consider the viability of plant-based clothing.
The housing market is ending 2022 on a pretty sour note. Mortgage rates are still high and the threat of a recession looms. Today, we’ll outline what to expect for the housing market in the coming year. Plus, the federal student aid office has a lengthy 2023 to-do list, the U.K. is rocked by strikes during the holidays, and bakeries around the world grapple with rising supply costs.
The National Labor Relations Board is tasked with overseeing union activity, but its resources have been stretched over the past decade or so. Today, a look at what a funding increase means during an important moment in labor organizing. Plus, the race to spend remaining flexible spending account dollars, the priorities and programs in the 2023 Farm Bill and the costs of running migrant rescue operations in the Mediterranean.
Today, we dive into two components of the omnibus spending bill Congress passed last week. We’ll examine how a funding advance for the Indian Health Service could help serve Indigenous communities and how a bundle of reforms could help bridge the gender gap in retirement savings. Also, we’ll take a look at what’s next for power grids following holiday outages and check in on the persistant infant formula shortage.
In the coming year, roughly 1 in 5 Americans will live in a state that requires employers to disclose salaries in job postings. While the laws cover a small number of jurisdictions, the impact could be far-reaching. Could this be a tipping point in how we talk about pay? We’ll also hear what’s driving online sales, look at what’s plaguing wastewater services and translate some Gen Z slang.
According to the Federal Reserve’s preferred inflation measure, prices crept up for services in November but ticked down for goods. It’s a story of shifting consumer demand and rising wages in the service sector. Also on today’s program, we’ll unwrap the government’s spending bill in the Weekly Wrap, gauge how consumers are feeling about this economy and visit New Mexico for some delectable holiday tamales.
Today’s revised gross domestic product report includes a tally of corporate profits, which were up 10% over the same time a year ago. Even companies that are selling fewer products are reaping higher profits. Those businesses are passing along rising costs, which people are willing to pay. But how long can the good times for corporations last? Plus, building emergency savings and refilling the U.S. oil reserve.
When it comes to managing international trade deals and relationships, the Biden administration has been tireless in 2022. Today, we’re joined by U.S. Trade Representative Katherine Tai to hear about achievements, challenges and why trade matters to everybody in this economy. Plus, the Bank of Japan hints about the end of ultralow interest rates, and a new Ford electric truck plant reshapes infrastructure in west Tennessee.
Prominent economist Mohamed El-Erian was among the early critics of the Federal Reserve for its failure to raise interest rates in 2021. Today, he joins the program to discuss where he thinks the Fed should go from here, what it’ll take to regain credibility and how realistic the 2% inflation target is. Plus, a potential consumer spending pullback, a look at electric vehicle subsidies and a trip to a particularly festive block in Baltimore.
Inventory management is a problem that has plagued many businesses recently, and retail inventories are up 17% since last year. On today’s program, why businesses just can’t seem to get it right and what it means for consumers. Also, homebuilder confidence continues to slide, businesses in the U.K. trial a four-day workweek and preppy-style clothing has trend-defying staying power.
With the increase in hate speech on Twitter, brands are facing a dilemma: stay and potentially tarnish their image or leave behind an audience they’ve spent time and resources building. In today’s episode, navigating the digital landscape in the Elon era. Plus, natural gas prices surprisingly fall in Europe, the “Avatar” sequel hits theaters in China and supply chain kinks are a recipe for school lunch confusion.
Federal Reserve Chair Jerome Powell has reiterated the importance of the central bank’s 2% inflation target. But why is 2% the magic number? Today, we’ll take a closer look at where that figure came from and what trade-offs are necessary to reach it. Plus, urban downtowns plan for fewer workers, rent prices dip and economics faces a second #MeToo moment.
The Federal Reserve upped its key interest rate by half a percentage point today, a smaller move than the previous four. Today, we’ll unpack what consumers can expect from the Fed going forward and how the slowing pace of rate increases will ripple through the economy. Then, the health impact of antibiotics overuse and, from Marketplace’s “How We Survive” series, what happens when climate change forces communities to resettle?
Following the implosion of crypto exchange FTX and the arrest of its former CEO, Sam Bankman-Fried, crypto seems to be losing its mojo. Is this just a setback for crypto or is it the beginning of the end? Plus, the factors driving the inflation slowdown, a history of the Fed’s split with the Treasury, and the complicated combination of remote work and holiday family time.
The campaign to curb rising prices is proceeding, and some pandemic-induced inflation is cooling. But getting price hikes down to the Federal Reserve’s 2% goal may take years. In today’s episode, why the last miles of the inflation fight are so difficult. Plus, a bipartisan retirement savings bill has its limits, China’s COVID policies have kept families apart and urgent care centers expand across the U.S.
The producer price index of wholesale prices rose slightly in October. But wholesale inflation has dropped seven of the last eight months because of falling demand for products and fewer supply chain kinks. In this episode, we look at how the Federal Reserve might interpret this data ahead of its meeting next week to hike interest rates. Plus, the key information often left out of financial aid letters, and tribal nations fight for a role in Colorado River management.
Americans’ spend-happy ways continue. Credit was up by 7% compared to October of last year, and card balances shot up faster than they had in 20 years. In this episode, bigger debts with higher interest rates are digging big holes for consumers. Plus, prices rise for packaged goods, researchers advocate for sustainable aviation fuels and the fine art market may be primed for a slowdown.
Mortgage rates usually move in tandem with the interest rate set by the Federal Reserve. But mortgage rates have dipped recently while the rate set by the Fed has been climbing. Why? The answer lies in the market for mortgage bonds. Plus, the state of the oil economy, the job gains workers with disabilities are making, and the growing need to crowdfund for basic necessities.
Mortgage rates usually move in tandem with the interest rate set by the Federal Reserve. But mortgage rates have dipped recently while the rate set by the Fed has been climbing. Why? The answer lies in the market for mortgage bonds. Plus, the state of the oil economy, the job gains workers with disabilities are making, and the growing need to crowdfund for basic necessities.
The military, just like everyone else, has to deal with supply chain disruptions and inventory balancing acts. In today’s show, we check in with the Pentagon’s chief weapons buyer about the war in Ukraine, a defense bill of nearly $850 billion and what the just-in-time economy means for the Department of Defense. Plus, normalizing retail inventory, confusion in streaming services and tensions between airlines and airports.
The U.S. dollar has given up about half its 2022 gains in the past month or so. That’s good news for exporters, but not so great for American companies that import pricier items. Today, a look at what’s going on with the greenback. Plus, inflation and other problems create a “perfect storm” for food banks, an Oregon bar serves up women’s sports and studios debate whether fans will flock back to movie theaters.
The word of the day today is “jobs.” The job market remains surprisingly strong, wages are rising, and job churn is high but settling. In this episode, a dive into the November jobs report and how it could influence the Federal Reserve’s next moves. Plus, day care staffing woes continue, Russia takes aim at Ukraine’s power grid, and Indigenous nations make progress in their push to co-manage public lands.
There’s no one economic figure that paints a perfect picture of where inflation is going. On today’s episode, we’ll do the numbers for fresh economic data and hear what economists are looking at to predict inflation’s next move. Plus, who gets the blame when layoffs come, what lessons new teachers are learning on the job and why consumer spending is on the rise while savings dwindle.
Protests have broken out in several Chinese cities since the weekend over the country’s strict zero-tolerance for COVID policy. On today’s show, “Marketplace” correspondent Jennifer Pak talks to demonstrators to hear about their exhaustion, anxieties and demands after nearly three years of stringent restrictions. Plus, demystifying the “wait, what?” economy, rethinking a career in the crypto industry and learning how to scam scammers.
With federal funding for COVID vaccines running out, doctors and clinics will soon have to pay for doses. Today, we’ll take a closer look at what this means for pediatricians and how the costs may cut into the care they provide. Also on the program: the state of the housing market, a growing list of Apple App Store critics and the stakes of the University of California strike.
New York City employers will be barred from using artificial intelligence in hiring starting next year, unless the program passes an audit. AI can narrow down candidate pools but often excludes otherwise qualified applicants who lack a college degree. In this episode, we’ll look at the push to address bias in hiring technology. Plus, the looming rail strike, “buy now, pay later” for groceries and why Frontier Airlines won’t answer the phone.
Despite inflation and rising interest rates, consumers are still spending as if they were awash in cash. But now they’re using credit cards, spending more on necessities and less on luxuries. Want more economic data? Plenty will come out next week. Plus, what melting ice means for Greenland, a day care center that saved itself by temporarily closing, and the Weekly Wrap.
As central banks around the world raise interest rates to fight inflation, it’s taking a toll on real estate markets far and wide. Today, we’ll map out where housing markets are stalling and where they’re finding buyers. Plus, retailers cautiously mark down goods, a classic chair gets an eco-friendly redesign and a novelist charts how humans would respond to an environmental catastrophe.
Unemployment claims are at a three-month high, which isn’t a great sign for the economy. But orders for durable goods — like auto parts and manufacturing equipment — were higher than anticipated in October. We’ll try to make sense of the economy’s mixed signals in today’s episode. Plus, a price cap on Russian oil fuels disagreement, “wonky” produce gains traction in the U.K., and small businesses make themselves holiday-ready.
An unknown buyer, or buyers, has been purchasing a lot of gold recently. About 400 tons changed hands in the third quarter, worth more than $20 billion. Sure, countries can use it to pay for imports during a crisis or evade U.S. sanctions, but who would want to and why? Plus, borrowers fret over high interest rates, streaming services are in a bind and marshmallows pose a sticky question for tax policy.
These are still not normal times, and that means a not-quite-normal holiday season. Thanks to inflation, holiday shoppers are getting less bang for their buck, while a pilot shortage is causing major headaches for travelers and regional airports. Today, we’ll unwrap what’s in store. Plus, a CEO succession lesson courtesy of Disney, the FTX debacle worsens crypto trust issues and the threat of eroding beaches.
The transition to remote work during the pandemic could have offered tribal communities an opportunity to curb the outmigration of young people. Yet Native workers have disproportionately been left behind. Today, a closer look at the causes and costs. We’ll also take stock of the week that’s been, dig into booming apartment construction and unpack new guidelines for relieving student debt in bankruptcy.
There’s bad blood between Taylor Swift fans and Ticketmaster after the site was nearly overwhelmed by fans trying to nab concert tickets. But the company is also drawing ire from elected officials who call it a monopoly. Today, how Ticketmaster cornered the market on live events. Plus, Starbucks workers go on strike, the FCC readies an updated broadband map and one reporter documents her return to China’s zero-COVID bubble.
Target released disappointing quarterly numbers today. Revenue growth slowed as shoppers contend with inflation, and the CEO warned of a slow holiday season. Could Target’s results be the ghost of holiday shopping yet to come for retailers? Also, companies find solutions to crowded warehouses, chief diversity officers grapple with a lack of support and international students return to U.S. colleges.
Nearly 40% of workers wouldn’t, according to a new survey. The pandemic dramatically shifted people’s relationships to and feelings about work. In this episode, a look at bleak workplace attitudes and what’s driving them. Plus, what surging metal prices mean for the global economy, how a slowing housing market affects city taxes, and why low levels on the Mississippi River are problematic for agricultural supply chains.
President Joe Biden and Chinese President Xi Jinping met on the sidelines of the G-20 summit today. Tariffs and other restrictions have hampered the already complex relationship between the two countries. Today, we outline the economic stakes of their conversation. Plus, a shortage of electrical transformers frustrates utility companies, the failure of FTX provides a painful lesson for cryptocurrency investors and retailers hope for predictability this holiday season.
When Elon Musk purchased Twitter, he borrowed billions. Now, the banks that helped finance that purchase are trying to offload those loans, but potential buyers are offering a sharply lower price of 60 cents on the dollar. Investors are wary of the risk after Musk’s first weeks as Twitter CEO. Also in today’s episode, a look back at this week’s economic data, a review of Amazon’s cost-cutting strategy and a warning for buyers in the crypto-sphere.
October’s consumer price index contains a glimmer of hope. Though prices are still on the rise, inflation may finally be starting to moderate. On today’s show, what to make of one month’s worth of mildly good news. Also on the program: a computer chip oversupply, a pulse check of the real estate market and a lab trying to disaster-proof buildings.
After rapid growth during the pandemic stalled, Meta announced that it’s slashing 13% of its workforce. It’s not the only company cutting staff and grappling with dashed expectations. Today, we’ll interrogate the sustainability of the more-is-more approach to corporate growth and what it means for the folks being laid off. Then, a crypto exchange crash, inflation’s impact on medical insurance and a firsthand account of identity theft.
It can be overwhelming to take stock of everything — and everyone — lost during the pandemic. But how do you quantify the time lost? For millennials, the sequestered years are ones traditionally marked by major life events, like marriage or having children. Today, we’ll tally the costs. Plus, small-business owners feel cautious about the economy, AMC Theatres strikes a deal with Zoom and trade schools see enrollment spikes.
Tech giants Twitter, Stripe and Lyft slashed jobs last week, and Meta will reportedly follow suit. It’s a reversal of the sector’s pandemic hiring spree and could be an indicator of wider cuts across the economy. Plus, conservative groups spend big on school board elections, Florida’s cultural institutions try to recover after Hurricane Ian, and a Supreme Court case threatens the Indian Child Welfare Act.
Federal Reserve Chair Jerome Powell received some welcome news in today’s jobs report: Wage growth is slowing a tad. The gains certainly aren’t as low as the Fed is hoping for, but the moderation could be a hint that the job market is starting to cool off. Plus, Twitter provides an example of how not to go about layoffs, and YouTube’s copyright tool sparks frustration for musicians.
Ahead of the holiday travel season, pilots at two major airlines rejected tentative contracts this week, and a third voted to authorize a strike. Pilots are bargaining for better wages and quality-of-life provisions, all while clocking record-high overtime and grappling with staff shortages. Also in this episode, worker productivity gets a boost, graphite shortages are bad news for EVs, and extreme heat threatens low-income households in Miami.
The Federal Reserve announced another interest rate increase today. On the program, we’ll unpack the key questions on Fed Chair Jerome Powell’s mind as he guides the central bank in its quest to quell rising prices. Then, it’s back to Buffalo, New York, where we visit a food truck providing better access to fresh produce and reflect on what economists could learn from the people behind macroeconomic data.
A cooling labor market means cooling inflation — at least in theory. But fresh data shows that job openings are growing and the quits rate remains high. Today, we’ll dig into the implications for workers and the Federal Reserve. Then, we’ll travel back to Buffalo, New York, to hear how the pandemic has altered the trajectories of a global hospitality company, a small inn and a young worker.
A cooling labor market means cooling inflation — at least in theory. But fresh data shows that job openings are growing and the quits rate remains high. Today, we’ll dig into the implications for workers and the Federal Reserve. Then, we’ll travel back to Buffalo, New York, to hear how the pandemic has altered the trajectories of a global hospitality company, a small inn and a young worker.
We spend a lot of time on this program talking about the big-picture data of this economy. But data doesn’t tell the whole story. Today, we travel to Buffalo, New York — a city where low-wage workers have enjoyed wage growth of more than 40% in the past few years — and hear how workers along one street are navigating inflation, the labor market and recovery from the pandemic.
We spend a lot of time on this program talking about the big-picture data of this economy. But data doesn’t tell the whole story. Today, we travel to Buffalo, New York — a city where low-wage workers have enjoyed wage growth of more than 40% in the past few years — and hear how workers along one street are navigating inflation, the labor market and recovery from the pandemic.
Inflation is the unwanted guest who somehow has not taken the hint. Prices are still rising month over month. And though the Federal Reserve’s rate hikes are being felt throughout the economy, we’ll likely be asking that question for a while before prices start to stabilize. Plus, a race toward I bonds, a plan to keep college students in STEM and the economic woes of going on tour.
Inflation is the unwanted guest who somehow has not taken the hint. Prices are still rising month over month. And though the Federal Reserve’s rate hikes are being felt throughout the economy, we’ll likely be asking that question for a while before prices start to stabilize. Plus, a race toward I bonds, a plan to keep college students in STEM and the economic woes of going on tour.
Last quarter’s gross domestic product showed better-than-expected growth. Problem is, GDP is backward-facing, and a strong dollar, rising mortgage rates and slowing consumer spending all hint at trouble ahead. Later in the program: how schools are prepping to train chip production workers, why investment is pouring into quantum computer development and how a dark chapter of history spawned a booming tourism industry in Salem, Massachusetts.
Last quarter’s gross domestic product showed better-than-expected growth. Problem is, GDP is backward-facing, and a strong dollar, rising mortgage rates and slowing consumer spending all hint at trouble ahead. Later in the program: how schools are prepping to train chip production workers, why investment is pouring into quantum computer development and how a dark chapter of history spawned a booming tourism industry in Salem, Massachusetts.
We’re in the throngs of earnings season. Corporate earnings releases are kind of like report cards for large companies, and while many have beaten quarterly expectations so far, their outlooks tend to be a little less rosy. Today, we’ll check the mood of corporate America. Plus, schools weigh spending options for COVID relief funds, short-term mortgages worry British homeowners and small businesses see supply chain relief.
We’re in the throngs of earnings season. Corporate earnings releases are kind of like report cards for large companies, and while many have beaten quarterly expectations so far, their outlooks tend to be a little less rosy. Today, we’ll check the mood of corporate America. Plus, schools weigh spending options for COVID relief funds, short-term mortgages worry British homeowners and small businesses see supply chain relief.
The last few years have been a roller coaster for renters. Though rents are up roughly 9% year over year, that’s an improvement from the increases seen last year. Is this a sign that the rental market is finally moderating, or just a temporary seasonal dip? Plus, a boost in new car inventory, new pay transparency laws that encourage fair compensation and banks’ role in the racial wealth gap.
The last few years have been a roller coaster for renters. Though rents are up roughly 9% year over year, that’s an improvement from the increases seen last year. Is this a sign that the rental market is finally moderating, or just a temporary seasonal dip? Plus, a boost in new car inventory, new pay transparency laws that encourage fair compensation and banks’ role in the racial wealth gap.
The Fed’s interest rate hikes continue to be felt across the economy. First, we’ll hear how those higher rates are luring investors away from tech companies, then we’ll see how decades-high mortgage rates are stretching the time houses remain on the market. Also on the program: Medicare recipients foot the bill for a rejected Alzheimer’s drug, and artificial intelligence rocks the digital art world.
Last spring, the worst wildfire in New Mexico’s history grew from prescribed burns lit by the U.S. Forest Service. It cost the federal government billions and devastated hundreds of homes and businesses. Now, liability concerns are making the Forest Service more cautious about using the wildfire prevention tool — just as experts say it’s needed most. Plus, persistent global recession fears and the intentional dryness of earnings calls.
The United Kingdom’s economy was sent into a tailspin during Liz Truss’ six short weeks as prime minister. Today, we’ll check in with Marketplace’s London bureau chief to discuss the political and economic fallout of Truss’ resignation and hear what’s next for 10 Downing Street. We’ll also dissect the corporate strategies for price hikes, follow the money in midterm elections and weigh infrastructure improvement options for cash-strapped towns.
It’s been a rough year for the stock market. But the stock market doesn’t always provide a clear roadmap of where the economy is headed. Today, the factors behind stock market volatility and how much we can read into the ups and downs. Also in the program: Europe turns to coal to avoid an energy crisis and a look at natural disaster modeling following Hurricane Ian.
Across the economy, companies are bracing for a cold economic winter. While banks are stockpiling cash to cover defaulted loans, tech companies like Microsoft are slimming staff and scaling back recruitment. In today’s episode, a look at how companies are prepping for an economic downturn. Plus, a silver lining for supply chains, second lives for school buildings and a nationalized green energy company proposal in the U.K.
The Department of Education recently opened its application for student loan forgiveness. With over 40 million people eligible for debt relief, it’s the largest operation of its kind in the department’s history. Today, we take a look at the logistics, hurdles and stakes for the federal government. Plus, a pricier holiday shopping season, a flawed economic indicator and a boost in accessibility for hearing aids.
Think of inflation as a runner. In parts of the economy, that runner is slowing — still going forward, just not as fast. Today, we’ll unpack which sectors are leading the race and which are faltering. Plus, how the Fed is tackling that persistent inflation, what a Kroger-Albertsons merger means for your grocery bill and how China’s economy is doing on the eve of its 20th Communist congress.
Core inflation registered 6.6% in September on a yearly basis. But just how much pain you feel paying your bills depends on who you are and what those bills are for. In today’s show, a look at why the headline inflation figure is probably different from the inflation you feel. Plus, the factors behind sky-high airfares, the problem-solving prowess of women in leadership and the hurdles to correcting unequal federal policies.
A recent proposal by the Joe Biden administration could reclassify gig workers as employees rather than independent contractors and expand benefits and protections for millions of Americans. Today, a look at what the move would mean for workers and companies. Also, big but slowing price increases for producers, a dramatic cooling in the mortgage business and a firsthand account of Hurricane Ian’s damage near Fort Myers, Florida.
A union representing freight railroad workers rejected the most recent tentative contract with major railroads, meaning that a strike — and threat to the supply chain — is once again possible. Today, we’ll take a look at the concerns over working conditions and the costs of a strike. Plus, a sign of small business optimism, a drop in computer demand and discussion of financial reparations following a wrongful conviction.
Today, we’ll provide an economic preview for the week ahead. First, we’ll take a look at Social Security’s anticipated cost-of-living adjustment and hear what the historic increase would mean for recipients being squeezed by inflation. Then, we’ll dive into what Wall Street will be listening for in this week’s corporate earnings calls and check out the hefty discounts shoppers can expect this holiday season.
The economy has made a remarkable recovery since the depths of the COVID-19 pandemic, but where would we be without that downturn? On today’s show, we talk “what ifs” with economists. Plus: semiconductor demand, oversharing on LinkedIn and what to make of the September jobs report.
When the pandemic began, many working moms took a step back from their careers. Now, multitudes of women are still sidelined due to a lack of affordable, reliable child care. Today, how a worker shortage in the sector creates a barrier to women reentering the job market. Plus, potential food relief for Floridians reeling from Ian, a rural hospital’s reopening struggles and the battle over Iran’s internet censorship.
Critics are worried that the Federal Reserve is raising interest rates too quickly and may tip the economy into a recession without taming inflation. So what else can the Fed do? Today, we dive into the policy, politics and power at Fed Chair Jerome Powell’s fingertips. Plus, a squeeze in warehouse space, a predicted slowdown in global trade and the people locked out of China by its zero-COVID policy.
The number of job openings dipped 10% between July and August — a bigger drop than many economists predicted. It might show that the imbalance between supply and demand for labor is shrinking, and could be a sign that the Fed’s rate hikes are working. Plus, how workers are “performing” productivity, why importers are struggling to take advantage of a strong dollar, and when will this bear market finally end?
Europe is looking to boost imports of liquefied natural gas as winter approaches. But supply chain problems abound, from too few ships to transport natural gas and too few facilities to load and unload it. Today, a look at what it’ll take to solve Europe’s energy crisis. Plus, rising interest rates hit manufacturing, libraries are stretched thin and a vineyard tries to adapt to the climate crisis.
The economy seems full of contradictions right now. The threat of a recession looms and inflation is rampant, but consumers are still spending. Economists often look to history when making predictions, but the past offers little guidance to make sense of our current economic moment. Plus, the challenges of moving to more storm-resilient infrastructure and the toll of rising energy costs on U.K. businesses.
Last year, dozens of container ships waited off the Californian coast — some for weeks — to dock and unload all the goods consumers were demanding. But those backlogs have eased substantially. Today, we’ll take a trip to the Marine Exchange of Southern California to hear what’s changed since and what hasn’t. Plus, why jobless claims are dipping and what Hurricane Ian means for Florida’s fragile insurance industry.
The U.S. dollar has been appreciating this year as investors take advantage of climbing interest rates. But the value of the dollar is forcing economies around the globe to pay the price. Today, we’ll delve into how a strong dollar is affecting imports, exports and the debts of foreign countries. Plus, the Bank of England makes a drastic move, and Hurricane Ian highlights power grid resilience.
Plenty of folks who began working from home during the pandemic are still there. Today, we’ll take a look at how much that WFH reality may be pushing up housing costs and what it means for the Federal Reserve’s inflation fight. Plus, how portfolio dips affect your spending, how women’s colleges are responding to financial pressures and what Gallup’s CEO thinks about happiness and work.
The stock market is not the economy. But financial markets around the world are looking at economic conditions right now and not liking what they’re seeing. Today, we’ll unpack the threats to global economic growth, which experts warn won’t let up anytime soon. Also, investors bail on British bonds, HIPAA excludes health apps and workers who cleaned a coal ash spill fight for compensation — and their lives.
The soft landing the Federal Reserve hopes for the economy appears increasingly out of reach. Stocks tumbled this week and fears of a global recession loom, but Fed Chair Jerome Powell isn’t looking to back off his inflation fight. Today, we’ll try to chart the rocky path ahead. Plus, a look at natural gas reserves, a check-in with publishers and booksellers, and a taste of the nonalcoholic beverage industry.
Around this time of year, companies begin hiring seasonal workers. Yet some large companies are planning on fewer hires. Despite a tight labor market, companies are uncertain whether consumer spending will remain strong through the holidays and are anxious about a recession. Plus, the Bank of Japan tries to prop up the yen, school districts call for cybersecurity funding and U.S. oil reserves reach a four-decade low.
That is how Federal Reserve Chair Jerome Powell characterized price stability while discussing the central bank’s interest rate hike Wednesday. The move pushes its benchmark rate to 3% or higher from zero in just six months. Today, we’ll explain what the Fed will be looking for to show that inflation is under control. Plus, what corporate layoffs tell us about the economy and how Germany is responding to its energy crisis.
In anticipation of more rate hikes by the Federal Reserve this week, the yield on the 10-year Treasury note finished at the highest it’s been in more than a decade. In today’s episode, we’ll break down what a higher interest rate on the government’s debt means for everyday Americans, from higher rates on personal loans to a potential hiring slowdown. Plus, home prices still won’t come down, and many Puerto Ricans are without flood insurance.
The Federal Reserve is all but guaranteed to raise interest rates this week. We’ll spend some time on today’s show talking about “soft landings,” and why hard landings are more common. Plus: Puerto Rico’s grid, the school band economy and retail shrinkage.
The Federal Reserve is expected to raise interest rates yet again next week as it looks to double down on inflation. Even with all the rate hikes, interest rates on savings accounts are still lagging. Today, we’ll explore how supply and demand play a role. Plus, a data deep dive in the Weekly Wrap, an anticipated shipping downturn and a costly cleanup for the San Francisco Bay.
Last year, the IRS only answered about 1 in 10 taxpayer calls, and the average wait time was 30 minutes. Thanks to new funding from the Inflation Reduction Act, the agency is set to hire 5,000 new customer service agents. On today’s show, we’ll look at why that hiring spree is easier said than done. Plus, retail sales send mixed signals, ethereum gets a major update, and Arizona juggles population growth with a limited water supply.
The August consumer price index shows that the cost of food at home was up 13.5% over the same period last year. That’s the largest annual increase since 1979, and higher energy prices, drought and the war in Ukraine all factor in. Also on today’s show: mortgage boycotts in China, stagnant household income in the U.S. and the tech that’s replacing business cards.
Almost everything became more expensive in August. We’ll discuss key items in the consumer price index and look at one number that dropped — the Census Bureau’s measure of child poverty rates. Plus, the U.S. enters a sorta trade agreement, a real estate agent talks housing market trends and researchers analyze plants to forecast wildfires.
We’ve learned just how fragile the global supply chain is the past few years, and we’re not out of the woods yet. Today, we examine two threats to the supply chain’s recovery: a potential strike of U.S. rail workers and continued lockdowns in China. We’ll also take a look at a new merchant code used for gun sales and hear how food banks are grappling with rising food costs.
A new report says restaurant bookings are back to pre-COVID-19 levels, which should be good news, but profitability in the industry is down. We’ll talk to some restauranteurs about menu changes, customer attitudes and fears around raising prices. Plus, “The Big Bang Theory” vs. Chinese censors, a new “affordable” Chevy EV, and the Fed chair’s recent remarks about “economic pain.”
Queen Elizabeth II was a symbol of stability for many, and her death comes at a turbulent time for the United Kingdom. Marketplace’s London bureau chief tells us about the mood of the country amid decades-high inflation and a transfer of power at 10 Downing Street. Plus, the strong dollar weighs down foreign economies and the European Central Bank unleashes an aggressive rate hike.
Amid an inventory glut and flagging profits, Target said its 63-year-old CEO will stay on for three more years, even though he was mandated to retire in two. The retailer joins a growing list of companies to nix age limits in the C-suite. Today, we’ll dig into why the rule exists but is falling out of fashion. Plus, an equal pay win for the U.S. women’s soccer team and a TikToker who makes monetary policy fun.
Russia said Friday it would not resume pumping natural gas to Europe through the Nord Stream pipeline. By Monday, one gas benchmark had shot up 30%. Governments are spending big to keep utility companies afloat, which could be pushing some countries to the brink of financial crisis. We’ll talk about it, plus energy news stateside and a sobering look at problem gambling as legal sports betting expands.
Today, California Gov. Gavin Newsom signed a law aimed at improving wages and working conditions for fast food workers in the state. It’s an industrywide victory for the labor movement in a year that’s seen plenty of union wins. In today’s show, we’ll check the pulse of labor organizing in the U.S. Plus, a change to questions asked in federal labor surveys and a celebrity’s crusade for child literacy.
Today, we’ll unpack the August national jobs report, which shows job growth as not too hot, not too cold. We’ll also look into who shoulders the burden of the employment slowdown most and who’s coming in off the sidelines of the labor market. Plus, inflation hits rural America harder, and a union representing musicians takes aim at streaming services.
There’s promise and peril on the For You page. On today’s show, we’ll look at how companies cash in or miss out on the big TikTok trends — and why some of those viral fads aren’t as spontaneous as they look. But first: the dust-up over chip exports to China, the Volatility Index and the latest productivity numbers.
Congress hasn’t approved new COVID funding for about a year and a half, and there’s not a whole lot of money left. With the FDA approving new boosters today, we’ll look at what happens when the cash runs out. Plus: A new way to track employment, a portrait of precarity in the restaurant business and a temp check on the American consumer.
In the current inflation-whipped economy, it can feel like everything is going up. But a figure economists didn’t expect to increase was job openings. Today, we’ll dig into what that means for the labor market as the central bank tries to tap the brakes on the economy. Later, Russian pipeline repairs stoke anxiety in Europe, and rent caps come with a tricky balancing act.
At first glance, the U.S. economy is in kind of a weird place right now. Inflation remains high and the Fed isn’t backing down from interest rate hikes. But today we’ll take a closer look at two economic bright spots: the strength of the U.S. dollar and the surplus of job openings. Plus, a hurdle for Manhattan’s return-to-office plans and home flippers’ impact on design trends.
From Starbucks to REI, Chipotle and Trader Joe’s, unionization efforts are gaining momentum — particularly at individual stores with relatively small numbers of employees. Today, we’ll take a look at why the labor movement is seeing big wins on smaller scales. We’ll also unpack Fed Chair Jerome Powell’s remarks at the Jackson Hole Economic Symposium and travel to a coastal New York town weighing difficult choices in adapting to climate change.
Gross domestic product and gross domestic income are two ways of measuring the economy that are usually like two sides of the same coin. All that spending and all that income should be roughly the same, but right now they’re totally different. Today, we’ll examine why that gap exists and why it matters so much. Also on the program: Supply chain bottlenecks drive rising prices, and inflation comes to the classroom.
Since Russia’s invasion of Ukraine six months ago today, the ruble has cratered and rebounded and sanctions by Western governments have isolated the country. Today, we’ll look at how the war has scarred Russia’s economy and consider how it may fare in the months ahead. Plus, we’ll dig into why a college education is so pricey and hear how some small business owners are dealing with a glut of inventory.
New home sales were down nearly 30% year over year in July. That has builders and real estate agents crying “recession,” but prices are still high and foreclosures are low. So what’s really going on? We’ll talk about it on today’s show. Plus: The Finnish prime minister and feminine power, big money in youth sports and the future of American chip manufacturing.
Supply chain issues haven’t gone away — we’ll hear from business owners about them in this episode. We’ll also hear about recent “reshoring,” which a new report says is on the rise, with 350,000 manufacturing jobs coming back to the U.S. this year. Plus, Ukrainians in the U.S. find new ways to send money home, Taiwan trade discussions progress and speed limiters gain traction.
General Motors announced that it will spend $5 billion repurchasing its shares, which companies sometimes do to boost stock prices when they have extra cash. Buybacks have a bad reputation; we’ll discuss the pros and cons on today’s show. Plus, we’ll look at the streaming industry’s growing pains and ponder peak inflation with our panel of experts.
Inflation is taking big bites out of Americans’ pay, and employers are struggling to keep costs down while trying to retain workers. Some are offering bonuses, and others are getting creative with perks. We’ll talk about it. Plus: The history of school lunch programs, stores’ ongoing inventory headaches and taxes frustrate the Texas tourism industry.
Store brands tend to thrive during times of economic stress, and they’re having a moment now. Today, we trace generic brands back to the inflation of the 1970s and hear how “private label” products have come to rival premium brands and attract devotees. Also on the program: the relevance of Federal Reserve meeting minutes, the analysts behind Wall Street expectations and the deeper digital lives of teens.
Walmart and Home Depot both reported sales were up 6.5% in the second quarter. While Walmart’s report indicates tough times for lower-income consumers, Home Depot’s shows middle to upper-income ones are feeling pretty good — even if they’re holding off on a new house. Plus: a new leader for Texas’ troubled power grid, dangerous heat for delivery drivers, and a new Florida law could make it harder for professors to retain tenure.
While it may not be the best time to be building (or purchasing) a single-family home, apartment construction has reached a 40-year high. All those new units could ease rent prices eventually, but rising labor costs and a supply chain backlog mean it won’t be soon. Plus: A look at “sticky” prices and how the oil and gas industry is betting on fracking as we try to reach net-zero carbon emissions.
The economy is a mixed bag right now. Inflation remains high but may have peaked. There’s talk of recession, but the labor market is holding up and wage growth is strong. And though consumer sentiment is relatively low, optimism appears to be rebounding. Today, we’ll read the economic tea leaves. Also: The economic case for a four-day school week, and a summer vacation in the Greek islands.
The pandemic and skyrocketing housing costs are pushing more people onto the streets. As shelters struggle to keep up, more cities and states are making it illegal to sleep outside. But housing advocates say that criminalizing homelessness is not a fix and could make it harder for people to find permanent shelter. Plus, what the producer price index tells us about inflation and how schools are dealing with chronic absenteeism.
Inflation clocked in at 8.5% annually in July, meaning that price gains have slowed but are still way up year over year. Today, we take a closer look at how gas prices can have an oversized impact on the consumer price index and why the costs of cooking at home are rising faster than your restaurant bill. Plus, the ongoing fight to expand tribal broadband access and the struggles of understaffed summer camps.
With the consumer price index for July set to be released tomorrow, economists are on the edge of their seats, waiting to see if price increases have begun to slow. Today, we’ll provide a preview of what they’ll be looking for. Plus, home sellers lament cooling demand, tourist towns near Yellowstone wrestle with flood closures, and Getty Images partners with historically Black colleges and universities to digitize archival photos.
The 755-page Inflation Reduction Act, expected to pass in the House of Representatives, will take aim at legislative priorities like taxes, the climate crisis and health care. Today, we’ll take a deeper look at two components of the bill: some big wins for Big Oil and Medicare’s ability to negotiate prescription drug prices. Plus, workers take on multiple jobs to make ends meet, and a cross-country bike trip inspires a career change.
Amid rising interest rates and falling GDP, July’s jobs report shattered expectations and brought employment back to pre-pandemic levels. On today’s show, we’ll talk with a bunch of experts about what to make of the news and where the economy is headed. Plus: Amazon is buying Roomba maker iRobot and Claire’s is going public.
During the height of the pandemic, state-run unemployment systems struggled to support applicants. Though states are investing in upgrades, benefits vary widely and the technology remains outdated. Now, as the job market cools and jobless claims rise, labor economists worry whether the unemployment system is equipped for another onslaught. Plus, Instagram’s shift to video challenges art entrepreneurs and FX’s “The Bear” aces the drama of restaurant work.
OPEC+ recently pledged to boost oil production by 100,000 barrels a day. Though it sounds like a lot, it likely won’t temper high oil prices much and may indicate that the oil cartel expects a dip in demand and a potential recession. Plus, credit card debt is on the rise, a new era of TV centers on Native people and Germany’s reliance on Russian oil stokes economic anxieties.
The shipping industry has enjoyed buoyant profitability lately. But today’s supply chain looks a lot like last year’s. That is to say … not great. In today’s show, we’ll find out why history is repeating itself. Plus, refiners are doing well despite the slide in gasoline prices, and we take a trip to HP’s ink cartridge recycling plant.
We probably don’t need to tell you groceries are more expensive lately. As the first shipment of grain leaves Ukraine since Russia invaded, we’ll take stock of the global factors driving costs at the store. Plus, how Taiwan became the center of semiconductor manufacturing and why oil companies aren’t drilling on those 9,000 new leases.
Less than a year ago, the Supreme Court overturned a nationwide eviction moratorium. Now, with inflation at a multidecade high and rents rising, eviction filings have reached pre-pandemic levels. Today we explore the impact on the hardest-hit communities and the government’s role in addressing the crisis. Plus, Congress gets into the fight against inflation, and inflation enters salary negotiations.
We’ve said it before, and we’ll say it again: Two consecutive quarters of shrinking gross domestic product do not necessarily spell recession. Today, we’ll take a big-picture view of what the GDP report does and doesn’t tell us about the strength of the American consumer and the overall economy. Also on today’s show: a potential electric vehicle tax credit and a pay increase for job switchers.
If it feels like everyone’s out of office right now, it’s because a lot are on vacation or out with COVID-19. The absences are forcing businesses to scramble and serve as a reminder that workers are rethinking work-life balance and that the pandemic still runs this economy. Plus, unpacking that interest rate hike, looking at slowing ad spending and checking in on a cooling housing market.
As the Fed eyes another rate hike, two economic indicators look as though they might be teetering. The labor market remains strong but is slowing and unemployment is ticking up. Meanwhile, consumers are still buying plenty of stuff, but slipping confidence could hint at a pullback in spending. Also on today’s program: Hearst’s CEO talks about the surprising publications that buoyed the company, and we look into Kindle and Airbnb’s exit from China.
We’re going to be getting gross domestic product and a slew of other economic data this week. While GDP numbers may show that the economy is contracting, a broader range of measures determine whether we’re in a recession. Today, we’ll dig in. Plus, supply chain issues refuse to let up, and bans complicate access to abortion care training.
Extreme heat is driving up the price of natural gas in the U.S., but energy woes are hitting across the pond too. The European Union is asking everyone from factories to families to cut back on natural gas use, but cross-country cooperation is proving difficult. We’ll talk about both stories today. First, a recap of the economic week that was.
The new subvariant and President Biden’s diagnosis show that COVID-19 isn’t done with us yet, even if a lot of things feel “back to normal.” Are we on our way out of the pandemic, or is this the new normal? We asked a few experts. Also in this episode, a transportation trifecta: corporate air travel makes a comeback, freight rail faces complications and used cars are (hopefully) returning to pre-pandemic prices.
While a deadly heat wave bakes Europe, the continent faces multiple economic predicaments as well. It’s prepping for a potential natural gas cutoff as tensions with Russia remain high. Inflation is also running rampant and expected interest rate hikes are stoking fears of another debt crisis. Plus, the party’s over for some companies that reaped pandemic profits, and regulators look to reimburse victims of money-transfer app scams.
If you’re a prospective homebuyer, you know that the housing market is — in a word — brutal. Though the market is showing signs of cooling, fewer homes are being built and rising mortgage rates continue to push ownership out of reach for many. Also in this episode, China reduces its U.S. debt holdings, small businesses still feel supply chain pinches and grocery stores market their way around rising prices.
We have a few stories about economics and water for you to ponder today. First, we’ll look at schools trying to rebuild on higher ground after deadly flooding. Then, case studies in California show how desalination can fight off another major drought. Plus: What bank earnings tell us about the state of the economy and why homebuilders are feeling down right now.
Starting Saturday, anyone in the United States undergoing a mental health crisis can seek help by dialing 988. But mental health advocates are already overwhelmed, and they’re now concerned that the crisis line is being launched before it has enough funding or counselors. Plus, CPI sorrows in the Weekly Wrap, a consumer spending spree and the unionization boom.
If you or someone you know is struggling with suicidal thoughts, anxiety or depression, call the National Suicide Prevention Lifeline at 1-800-273-8255 or text the Crisis Text Line at 741741. Here’s how to find help outside the U.S.
When companies have extra cash, they may use it to build facilities, hire employees or purchase their own stock. But JPMorgan reported disappointing financial results today and said it would suspend its stock buybacks, which some economists interpret as a Wall Street behemoth prepping for an impending recession. Plus, higher interest rates hit homebuilders, Shanghai businesses tally the COVID lockdown’s costs and schools get creative to address hiring headaches.
Odds are you’ve seen the eye-popping figure by now: Year-over-year inflation clocked in at 9.1% in June. Those price increases are pretty much everywhere you turn in this economy. Today, we’ll take a look at where prices head from here and what it all means for the Federal Reserve. Plus, the hurdles in the way of a Russian oil price cap and why the role of college rankings may be changing.
We’ve seen hints that the Federal Reserve’s interest rate hikes may be cooling the housing market. But rent prices are still climbing across the country, and higher interest rates may not rein in rent costs for more than a year. And later, war in Ukraine fuels global hunger, inflation comes for Hollywood productions and some try to beat confusing credit score algorithms.
PepsiCo and JPMorgan, among other large companies, are releasing their quarterly results this week. Inflation may not have flattened bubbly soda sales, but analysts will be listening to what bank executives say about a possible economic slowdown. Also: expanding the baby formula market, gasoline inflation reaches remote Alaska, and what’s up with the Texas power grid?
Though fears of a recession persist, there’s plenty to be happy about in today’s hiring report: Manufacturing employment has returned to pre-pandemic levels, and the number of people forced to work part-time because they can’t find full-time gigs is way down. But high child care costs are still keeping women on the sidelines of the economy. Later, a special designation for an English county’s wine leaves a bitter taste in the mouths of some.
Tomorrow’s jobs report will provide a snapshot of employment in this country. The Federal Reserve will be keen to dig into it as it eyes additional interest rate hikes, and at least one Fed official sees a labor market strong enough to handle them. Job openings have been plentiful, but staffing agencies say demand for workers is already cooling in some industries. Plus, hints of a stabilizing rental market and the changing definition of a recession.
Roughly a dozen states are giving out tax rebates to ease the impact of inflation on their residents. Some economists are critical, saying more money to spend could make the problem worse. Plus, how long it’ll take to see oil from drilling on federal lands, how credit score algorithms exacerbate inequality and who ultimately foots the bill for a new Walmart transportation fee.
Oil prices fell and Treasury bond yields inverted today — hints that the U.S. economy may be heading for a downturn. And as revenue-challenged companies look to cut costs in the era of remote work, physical office space may get a pink slip. Plus, President Biden weighs tariff options, airlines reel from staffing shortages and shellfish producers grapple with ocean acidification.
There may be an unwanted guest at your Fourth of July celebration this year: rising prices. Today, we take a look at how inflation shaped the holiday weekend — from your fireworks to your travel. We’ll also check the pulse of the housing market, examine a potential culture clash at Unilever and attend an aerial firefighting training.
Some companies have pledged to cover travel expenses related to abortion care following the overturning of Roe. Providing those benefits is one thing, but protecting employee privacy and ensuring that workers feel comfortable using them is another thing entirely. Plus, recession risks and a glut of goods in the Weekly Wrap, and a look at the war between crypto miners and environmentalists.
Today, the Supreme Court issued a ruling that limits the Environmental Protection Agency’s authority to cap emissions. But the move will also restrict other federal agencies’ policymaking powers. We’ll examine how this decision will shape how the economy is run and regulated — in areas as varied as COVID and crypto. Plus, why consumer spending is slowing, what different inflation measures tell us and why tribal lands aren’t abortion access loopholes.
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As some states curtail abortion care, others are moving in the opposite direction. Today, we take a trip to Maryland, where a new law expands the number of workers able to perform abortions as providers in the state anticipate a surge in demand. Plus, ports work to ease shipping congestion, federal funding for COVID treatments dwindles and Hong Kong’s reputation as a global financial hub shifts.
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Home prices were up over 20% year on year in April. Meanwhile, people are flipping houses at the highest pace since 2000. But that trend may slow as mortgage rates and labor costs continue to climb, cutting into profits. Also in today’s episode: the proposed cap on Russian oil prices, Old Navy’s struggles with inclusive sizing and a Connecticut law limiting “captive audience” anti-union meetings.
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A growing list of employers will offer a new benefit: covering expenses for out-of-state abortion care. But existing benefits, like paid family or sick leave, already splinter along race and class divides, and these new benefits are unlikely to reach those most likely to seek abortion care. Plus, assessing war’s damage to Russia’s economy and looking at the “narrow path ahead” for countries around the world to escape recession.
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The Supreme Court’s decision to overturn Roe v. Wade won’t just make abortions more expensive and difficult to access; it’s also expected to exacerbate economic disparities between people who can afford access to reproductive services and those who can’t. Today, a look at the ruling’s impact. Plus, a recap of Fed Chair Jerome Powell’s trip to Capitol Hill and companies’ evaluation of hybrid work.
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Low-paid workers have seen some of the biggest pay increases since the start of the pandemic. But those gains are already slowing as the Federal Reserve puts the brakes on the economy and cools the labor market. Today, we dig into the real-world consequences of the Fed’s decisions. Then, a reevaluation of credit card late fees, a potential moratorium on cryptocurrency mining and high inflation across the pond.
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Let’s state the obvious: The pandemic is definitively not over. But plenty of larger companies are rolling back COVID restrictions and signaling the end is near. Today, we delve into how corporations make those decisions and how they shape the public’s pandemic mindset. Plus, the future of commission-free stock trading, the ripple effects of pilot shortages and the incarcerated youths who fight wildfires.
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The stakes are high for the Federal Reserve as it hikes interest rates in its effort to tame rising prices. Getting it wrong could spawn a recession. But different economists use different models to predict the likelihood, magnitude and timing of an economic downturn — so estimates are all over the map. Later on today’s show: a breakfast table breakup, competition among real estate agents and lessons from pandemic-era career shifts.
Juneteenth commemorates the day enslaved Black Texans were informed of the Emancipation Proclamation, though it was years late. While the emancipation from slavery is nearly 160 years old, the economic emancipation of Black Americans is ongoing. Today, we’ll take a look at the structural and legal barriers that have prevented Black Americans from building wealth and what can be done to correct it. Plus, the still-hot housing market and the shortage of summer school teachers.
After delta and omicron, employers’ return-to-office plans have run into another hurdle: the price of gas. Plus, how the Federal Reserve is letting an “unsustainably hot” job market cool off; and Raphael Bostic, head of the Atlanta Fed, tells us he understands that inflation is “going to weigh on your psyche.”
Rising prices are a problem around the world, and dozens of central banks are hiking interest rates in response. Today, we delve into the global forces driving inflation and look at the countries most vulnerable to higher interest rates and recessions. Later in the program: a housing market that may be cooling, a patent system that irks inventors and rising costs that challenge schools’ creditworthiness.
Today, the Federal Reserve hiked its key interest rate by three-quarters of a percentage point — the biggest increase since 1994. The move will come with some pain for consumers as the Fed tries to slow the economy and get Americans to spend less. But, if retail sales offer any insight, that may already be happening. Plus, an oil demand forecast and a new Department of Education position.
The savings rate has plummeted since the height of the pandemic as Americans grapple with rising costs. Thing is, that pandemic stockpile of cash — when coupled with janky supply chains — helped fuel inflation in the first place. Today we dig into that relationship. Plus, another crypto winter, the state of Gen Z’s finances and the connection between unfilled jobs and unemployment.
The economic word of the day is … “ouch.” The S&P 500 entered bear market territory as the Dow Jones Industrial Average shed almost 900 points. Meanwhile, inflation remains at a 40-year high while consumer sentiment is in the toilet. On today’s program, we’ll dig into recessionary fears and rate hike expectations ahead of tomorrow’s Federal Reserve meeting. We’ll also unpack the new bipartisan gun control framework and preview a post-inflation economy.
One of the causes of the grimace-inducing inflation we’re experiencing is a congested global supply chain. Port bottlenecks are finally easing, but we’re not in the clear yet. With COVID-19 restrictions lifting in China, the U.S. could be in store for what one freight broker calls a “freight tsunami.” Plus, a look at why inflation is so pervasive and persistent, and creating federal protections workers who face extreme heat.
A supposed “stablecoin,” a cryptocurrency pegged to the U.S. dollar, collapsed last month. Venture capitalists and crypto hedge funds lost billions, and some average-Joe investors lost everything. Today, we sort through the wreckage. We’ll also dig into the European Central Bank’s rate hike and answer some of your inflation questions.
Lawmakers and consumer advocates are in a standoff over which agency should regulate cryptocurrencies: the Securities and Exchange Commission or the Commodity Futures Trading Commission. Today, we dive into the debate. Plus, a look at retailers’ continuing inventory woes, the government’s changing definition of “small business” and the costs of school security.
It’s been tricky for retailers to pin down what consumers want. At the height of the pandemic, shoppers focused on furniture, appliances and other home goods online, so stores stocked up, betting that the spending on domestic stuff would last. But now that Americans are investing less in furnishings and sweatpants, stores are left with unwanted inventory. Plus, a strong dollar buys stress for international companies and winemakers try to salvage grapes tainted by wildfire smoke.
What’s worse than putting all that time and effort into a job interview, only to be lowballed by your prospective employer? In a tight job market, applicants and new state laws are demanding greater transparency around pay, but some employers are still cagey. Today, we look at how expectations for the interview process are changing. Plus, some companies lower their earnings forecasts, and Shanghai residents spin up DIY supply chains during COVID lockdowns.
More people are working, but labor force participation is still trailing pre-pandemic levels. Meanwhile, wages are up, but inflation is still eating up gains. On today’s program, we’ll look at what’s going on in an economy that’s simultaneously cooling down and still recovering. Plus, a bump in applications to historically Black colleges, and a train line fit for a queen.
We’ve talked a lot about the impact of rising interest rates recently, but the Fed has other tools to fulfill its dual mandate. Today, we’ll look at why the central bank owns mortgage bonds in the first place, and what it hopes to achieve by reducing its stockpile. Plus, the winners and losers of the OPEC+ meeting and what happens when you become your parent’s retirement plan.
If you usually just smile and nod when you hear the term “metaverse,” have no fear! Today, Kai Ryssdal explores and demystifies the immersive digital world that companies are investing billions in. On the docket: tools for virtual education, digital event spaces and a conversation on a simulated seafloor. We’ll also look at the contentious relationship between Russia and OPEC, and dive into the (still) hot job market.
A spending spree on goods at the start of the pandemic helped clog the global supply chain. Now, consumer spending on services has reached pre-pandemic levels. Today, we examine that shift — and the good and bad that come with it. Plus: A hot summer job market, bare-bones housing inventory and another crucial shortage at hospitals.
Memorial Day marks the unofficial start of summer — and summer travel. Today we take a dive into the financial dimension of the holiday. Gas for road trips? The price is up. Beef and propane for grilling? Also up. Still, that doesn’t mean pandemic-weary Americans are shying away from spending. Also on the program today: New, diverse leadership is changing the landscape of American theater, and recycling electronics proves a lucrative trade.
We got a lot of data today about how people are spending money in this country. The Federal Reserve’s preferred inflation measure slowed in April and spending rose. But as consumers stretch their dollars, they’re changing brands and dipping into savings. Today, we’ll examine how inflation is shaping the shopping experience. We’ll also look at trade complications in a post-Brexit Europe and the rising costs of hurricane season.
School shootings have enduring effects on students who survive them. Today, we talk with an economist who’s studied the educational and economic impacts that persist months or years afterward. We also look at the shock of mortgage inflation, the factors behind wage growth and the industries disrupted by the helium shortage.
Yesterday, a gunman killed 19 children and two adults at an elementary school in Uvalde, Texas. Today, we revisit a story on gun sales we published after the 2012 Sandy Hook shooting in Connecticut. If it feels like nothing has changed since then, that’s because when it comes to buying guns, nothing has. Later in the program, a look at our aging port infrastructure and a visit to rural Oregon, where mobile home parks are struggling to rebuild after wildfires.
It’s been roughly six months since AstraZeneca released a COVID-19 antibody treatment called Evusheld, designed for immunocompromised people. But a lack of outreach and unequal distribution has led to a complicated and confusing rollout — leaving millions of vulnerable Americans without protection. Plus, what experts look for in the minutes from Federal Reserve meetings and how high energy prices please investors but burden the economy.
Some economic forecasters are downgrading their outlooks for growth for the rest of the year. Slower growth may actually help ease inflationary pressures but could still leave the economy vulnerable to a recession. Today, we’ll discuss. Also, how lifting tariffs on Chinese imports could ease inflation, the rise and fall of negative interest rates in Europe and the next big thing in higher ed: classes for TikTok influencers.
While the Federal Reserve is raising interest rates to cool down the U.S. economy, China’s central bank is taking the opposite approach to juice its slowing economy. Today, we’ll dig in. Plus, we wrestle with overstaffing at retailers and hear what the infant formula shortage teaches us about market concentration.
Then comes the upkeep. Authorities have confiscated roughly a dozen vessels with connections to the Kremlin, but to keep just one superyacht moored and maintained can cost tens of millions, and the arresting government has to foot the bill. Plus, retailers are stuck with too much inventory, farmers encounter a delayed planting season and classic cars are being electrified.
A thousand-point drop from the Dow is scary, but it wasn’t entirely unexpected either. Inflation cut into retailers’ earnings, spurring a huge market sell-off. The Federal Reserve wants the economy to cool, and the stock market may be taking the hint. We’ll talk about it all on today’s show. Plus: signs of a normalizing housing market, the legacy of California’s board diversity laws and more from our interview with former Fed Chair Ben Bernanke.
What’s the best way for the Federal Reserve to tackle decades-high inflation? For former Fed Chair Ben Bernanke, the answer’s in the past. Today, Bernanke discusses what previous Fed chairs got wrong, why the Fed’s credibility is critical and how the central bank can manage inflation expectations. Plus, understanding the strength of the dollar, the extension of the public health emergency and the state of U.S. coal production.
Today, the Joe Biden administration released a plan to tackle the shortage of starter homes. The move incentivizes high-density housing and manufactured or mobile homes. But there’s a hurdle for lower-cost housing developments: the communities that don’t want them there. Also on the program: looking at a new tool for mapping wildfire risks, grappling with higher utility bills and trading in a gig at Home Depot for one in a glassmaking studio.
We’ve got Cecilia Rouse, the chair of the White House Council of Economic Advisers, on the show today to hash out President Joe Biden’s remarks on the economy this week, the past year or so in government relief and who’s ultimately responsible for driving inflation. Before that, we’ll do some postgame analysis of our exclusive interview with Fed Chair Jerome Powell. We’ll also catch you up on the crypto crash and the baby formula shortage.
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The Senate confirmed Jerome Powell for a second term as chair of the Federal Reserve today. Last week, the Fed announced the biggest interest rate hike in 22 years and its plans for reducing the central bank’s nearly $9 trillion balance sheet, all in an effort to get torrid inflation under control. We sat down with Powell for a long interview about what the Fed can do to engineer a “soft landing” for this economy — and what it can’t.
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At the start of the pandemic, Airbnb lost 80% of its business in about eight weeks. CEO Brian Chesky calls it a near-death experience for his company. On today’s show, we’ll talk with Chesky about where his business is going and why he believes “work from anywhere” is the future. Plus: how consumers are responding to (barely) slowing inflation, what Treasury bond yields have to do with student loans and why the Oakland A’s are playing ball for tiny crowds.
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We’ll get an update on the consumer price index from the government tomorrow. Even if the inflation rate has slowed from its recent 40-year high, don’t expect prices to go down anytime soon. We’ll get you caught up with the economic fundamentals on today’s show. Plus: the trouble with tax holidays, management issues amid peak TV and why wildland firefighters haven’t seen a cent of their raise from last year.
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In the early days of the pandemic, China’s “zero-COVID” policy served the country pretty well. But in the omicron era, it’s putting strain on employment, supply chains and the global economy overall. On today’s show, we’ll look into it. Plus: Shein’s ultrafast fashion, Texas’ rolling blackouts and one couple’s money fight that ended up being about so much more.
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The U.S. economy added 428,000 jobs in April, but there are signs the labor market slowing down a bit. Some economists say that might not be such a bad thing, counterintuitive as it might seem. On today’s show, we’ll explain and break down the rest of this big week in business and economic news. Plus: the start of the WNBA season and a look at the Gathering of Nations powwow.
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Productivity fell 7.5% in the first quarter, the steepest drop since 1947. On today’s show, we’ll look at what that tells us about the economy as a whole. Plus, the future of medication abortion if Roe v. Wade is overturned. Later in the show, we’ll talk with the president of a community bank about responding to the Fed’s rate hikes.
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The Federal Reserve announced a half-percentage-point interest rate hike today. It’s also shrinking its balance sheet in an effort to tame inflation. But supply chain hiccups, inflationary expectations and a potential wage-price spiral complicate the central bank’s job. Today, we dig in. Also on the program: why the Fed might not mind a dip in the stock market, and how overturning Roe v. Wade would ripple out into the economy.
If the Supreme Court overturns Roe v. Wade, about half the states in the U.S. are expected to ban abortions entirely. It’s a human and political story, but it has economic implications too. Today, we’ll take a look at the companies moving to help their employees access abortion care and who those policies impact most. Plus, an in-depth conversation with U.S. Trade Representative Katherine Tai on tariffs, trade and globalization.
Since Russia launched its war in Ukraine, the nation has been pummeled by sanctions, the freezing of assets and the exodus of multinational companies. Inflation is hitting ordinary Russians hard too. Now, with its role as Europe’s energy supplier in question, we do the numbers on Russia’s economy. (Hint: They aren’t pretty.) Plus, companies rethink their borrowing sprees amid rising interest rates and manufacturers look to set up shop in Mexico.
Exxon Mobil reported quarterly profits of $5.5 billion today, riding the wave of high oil prices prompted by the war in Ukraine, among other factors. The company, a leader in a shareholder-friendly industry, plans to use many of its billions on stock buybacks. Now, environmentalists are pressuring Congress to tax these windfall profits. Plus: Employees see higher pay but less buying power, and we’ll talk recession fears and GDP in the Weekly Wrap.
U.S. gross domestic product shrank by 1.4% last quarter, but just because the economy’s shrinking doesn’t mean it’s hurting. Today we dive into two big factors — slowed inventory growth and a surge in imports — sinking that calculation. Also on the program: How the NFL draft incentivizes “tanking,” and why the energy crisis could be an opportunity for the energy transition.
We’ve talked about the Federal Reserve’s tricky balancing act: raise interest rates enough to quell inflation without spurring a recession. That’s often called a “soft landing.” Thing is, it’s hard to do. The Fed’s tried it nine times since 1961 and has succeeded only once. Today, we’ll discuss how soft (or bumpy) the landing may be this time around. Plus: Russia cuts off some gas exports and retirement planning may now include crypto.
Home prices? Up. Mortgage rates? Also up. Demand for mortgages? Not so much. Today, we check in with a Los Angeles-based mortgage broker for a deep dive into the cooling of the housing market. Also on the program: Demand for coal sees a (likely temporary) boost, April wildfires underscore the growing costs of the climate crisis and the Pell Grant program is expanded for incarcerated students.
Mere days after announcing he wanted to purchase the social network, Elon Musk has reached a deal with Twitter — a $44 billion buyout. Musk, the world’s wealthiest man, wants to take the company private and change how it moderates content. Is there more to this deal than free speech? We’ll dig in. Plus: Why rising prices impact everyone differently and how companies came to serve shareholders first.
French voters hit the polls Sunday to decide between incumbent President Emmanuel Macron and hard-right rival Marine Le Pen — known for her pro-Russia, anti-NATO and anti-European Union sentiments. Though Macron leads in the polls, Le Pen has working-class appeal. Today, we’ll get you caught up on the election and its economic consequences. Plus: It’s Earth Day, but supply chains and trade wars are holding the renewables industry back. But first: We’ll hash out tariffs and rate hikes in the Weekly Wrap.
Two years ago, 4.2 million Americans filed for unemployment benefits. Last week, that number was 184,000. Nowadays, job seekers can be picky while employers bend over backward to attract and retain workers. Today, we look at the historic strength of this job market. Plus: What’s behind the surge in natural gas prices, what Shanghai’s lockdown feels like nearly four weeks on and how flight attendants in the ’60s helped working women’s rights take off.
Homeowners associations aren’t just making rules about lawn ornaments and holiday decorations. HOAs are increasingly leveraging their authority to restrict investors from buying up houses to rent. Today, we’ll dive into what that means for wannabe buyers and renters. Also on the program: Consumers stick with pricier brands (for now), inflation complicates infrastructure spending and student debt cancellation could narrow the racial wealth gap.
The International Monetary Fund slashed its prediction for global economic growth in 2022. Some big reasons: the war in Ukraine, fallout from sanctions on Russia, and the pandemic. Those factors are complicating the jobs of economic forecasters everywhere. Today, we dig into it. We’ll also revisit those Trump-era tariffs, examine the market for digital voices and check in on the evolving economics of streaming platforms.
China’s strict zero-COVID-19 policy has left workers stuck at home and goods stuck at docks or warehouses. When those measures are lifted, a tidal wave of consumer goods could flood back into American ports, and the burdened supply chain could become congested yet again. We’ll talk about it. Plus: Oil drilling on federal lands provides political drama but little relief, and regulators voice anxiety about stablecoins.
Elon Musk has a 9% stake in Twitter and offered to buy the company Thursday. Now, Twitter has countered by activating a “poison pill,” a move that gives other shareholders the opportunity to buy more shares and dilute Musk’s power. We’ll also chat about whether we’ve reached peak inflation in the Weekly Wrap. And while China’s COVID-19 restrictions disrupt global supply chains, trucking capacity in the U.S. begins to loosen.
The pandemic sidelined millions of working women. Now, women — who often earn less than their male counterparts, yet spend more for similar products — are feeling the sting of inflation more acutely too. That could further slow their return to the workforce. Plus: Spending at the pump goes up, college students could get nice tax returns and cryptocurrency is having a moment … at kids’ summer camp.
There’s a monetary policy principle that says for every percentage point of inflation, interest rates should rise a percentage point or more. But could rates north of 8% actually be in the cards for the Federal Reserve? Today, we’ll do the numbers. Plus: What JPMorgan’s earnings report hints about the economy’s future, why student enrollment dips complicate school budgets and how Russian retaliatory sanctions are affecting jam sessions.
… and not a drop of relief, at least for a while. Inflation clocked in at 8.5% year over year in March, but the economic cooling effects of the Federal Reserve’s interest rate hikes could take a year or more. Meanwhile, small businesses and consumers alike are trying to stretch their dollars further. We’ll also take an inside look at Shanghai’s indefinite COVID-19 lockdown and interrogate Germany’s “change through trade” approach to autocratic countries.
According to Standard & Poor’s, Russia is in “selective default,” or default on specific debt payments. The country has plenty of money, but Western sanctions could make it unable to pay. Meanwhile, some investors may spot an opportunity to scoop up Russian debt at low prices. Plus, spring flight cancellations could spill into the summer, and inflation comes to the school cafeteria.
Prices were already on the rise before the war in Ukraine, but the United Nations finds that global food prices have reached an all-time high. Now, people in developing countries, who spend proportionately more on food, are at increased risk of hunger as their governments seek alternative suppliers. Plus, a look at Russia’s profits from natural gas sales to Europe, the home health care crisis and the ripple effects of the Federal Reserve’s interest rate hikes.
The goal of Federal Reserve’s interest rate hikes is to cool demand and curb inflation, and it turns out they’re already working. Mortgage applications and refinancing of home loans dropped last month. Meanwhile, initial jobless claims are now at their lowest point in 50 years. Is there such a thing an unemployment rate that’s too low? We dig in. And for the opening day of Major League Baseball, a breakdown of the labor dispute between players and team owners that threatened the season.
Today, the Federal Reserve released its March meeting minutes. While many Fed officials are keen on half a percentage point interest rate hikes going forward, the central bank is also planning to shed $95 billion worth of bonds per month. We’ll dig into its plans to turn down the temperature of the economy. Plus: Why economists care about the Case-Shiller home indexes and what temporary protection status means for Ukrainians and Afghans.
The value of the ruble tanked under international sanctions after Russia invaded Ukraine. It’s since recovered, at least on paper. Today, we look into how the Kremlin manipulated supply and demand for its currency to keep it stable. Plus: The European Union proposes a Russian coal ban, the war in Ukraine boosts beer prices and the Great Resignation may actually be kinda normal.
Why are prices rising so quickly? The pandemic, supply chain snarls and war in Ukraine are obvious culprits. But, c’mon, what about corporations padding their profit margins? Or just-in-time supply chains? Today, we try to piece together the inflationary puzzle. Plus: The U.S. is maintaining its global financial clout — for now, the trucking industry grapples with wait times at ports and warehouses, and stock buybacks make a comeback.
Employers are on hiring sprees and they’re offering higher wages. Workers are coming off the sidelines in in-person, professional and business services. At the current rate of job growth, the economy could return to pre-pandemic employment levels this year — once inflation, COVID-19 and the war in Ukraine don’t stand in the way. It’s a red-hot jobs market, and today we’re digging in. Plus, how wildfire building codes have helped protect newer California homes.
Texas Gov. Greg Abbott recently ordered state agencies to investigate families that provide gender-affirming medical care to transgender kids for child abuse. Some parents are now looking to move to states with stronger LGBTQ protections — but that can be an expensive and disruptive solution. Today, we hear from some of those families. Plus, we’ll do the numbers on business costs, durable goods and shrinking consumer purchasing power.
The war in Ukraine has threatened the global supply of all sorts of commodities. Today, we’re zooming in on three key parts of the global energy industry: Russia’s role in nuclear power, how Europe’s shift from Russian to American natural gas could play out and why OPEC+ likely won’t boost oil supplies. Plus: The changing conversation around standardized tests and potential planting on protected lands.
We have two stories today of what it’s like getting by when a global crisis is playing out around you: First, our China reporter tells us about life in locked-down Shanghai. Then, a 75-year-old Ukrainian refugee finds shelter in Poland. Stateside, we’ll take a closer look at the Federal Reserve’s toolkit, examine new data on the gender wage gap and explain what an inverted yield curve is.
A handful of lawmakers have or are looking to suspend state gas taxes. While there’s little else they can control in terms of gas prices, those taxes make up less than 10% of prices at the pump — and it’s not the only place where consumers are feeling the pinch of inflation. Plus: A win for streaming platforms at the Oscars and a look at the CARES Act’s historic investment in tribal infrastructure.
As Europe tries to wean itself off Russian natural gas, it’s moving toward imports from the United States and renewable energy sources. The U.S. produces a lot of natural gas, but liquefying it to make it shippable is a roadblock, and significantly upping production could take years and cost billions. Also on today’s show, the number of multigenerational households soars. Plus: Interrogating a potential 0.5% interest rate hike and the end of globalization in the Weekly Wrap.
Brent crude topped $119 a barrel Thursday. High oil prices don’t just drive up gas prices, they also boost the cost of plastics, used in everyday goods and products important to the energy transition. Today: What those rising prices mean for consumers and a cleaner future. Plus: Companies lack cybersecurity experts at the top, student loan payments may restart soon and the Fed keeps a close eye on real interest rates.
The global economy has felt the ripple effects of Russia’s invasion of Ukraine for nearly a month now. Today, we chat with Adam Posen, president of the Peterson Institute for International Economics, who argues that the war could erode the “global” part of this economy. Plus: A look at who benefits from new trade deals, why governments and aid organizations claim credit for humanitarian assistance and how housing support programs create stability for recipients.
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While President Joe Biden warned the private sector about potential Russian cyberattacks earlier this week, cybersecurity experts have been sounding the alarm for years. Today, we’ll preview what the threat to critical infrastructure looks like. Plus, the war in Ukraine spikes the cost of a metal used in catalytic converters, and the U.S. Securities and Exchange Commission mulls new regulations for cryptocurrency.
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Hundreds of businesses have pulled out of Russia following its invasion of Ukraine, but the decision is more complicated for pharmaceutical companies. Today, we dig into the ethical and economic considerations they’re facing. Plus: We talk with a former Ukrainian finance minister, track the nickel market’s wild ride and take stock of the tough job ahead for the Federal Reserve.
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On a two-hour call with Chinese President Xi Jinping today, President Joe Biden warned of “consequences” if China helps Russia avoid the effects of Western sanctions. Today, we’ll look at how China could backfill the hollowed-out Russian economy. Plus: Government money for COVID boosters is running out, and a Texas town is going all in on crypto. We’ll kick off the show with our panel of experts, breaking down the what and the why behind the Federal Reserve’s interest rate hike.
The stock market isn’t alerting us to a potential recession, and Federal Reserve Chair Jerome Powell doesn’t think one is likely in the next few years either. But as the Fed raises interest rates, economists’ forecasts are a little muddier. Today, we asked experts to paint a picture of our economic outlook. Plus, the war in Ukraine disrupts global auto production and Iranians reflect on the drawbacks of sanctions.
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In an attempt to cool down decades-high inflation, the Federal Reserve announced a 0.25% interest rate hike today, likely the beginning of a series. The Fed has its work cut out for it: Fostering sustainable economic growth while tamping down price growth can be a delicate balancing act. And all this amid global supply chain issues, a war raging in Europe and a pandemic that’s not over. On today’s show, we’ll dig into how that balancing act could play out. Plus, how the war in Ukraine is complicating global trade in grain and affecting shipping between China and Europe.
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West Texas Intermediate is back below $100 per barrel. Average gasoline prices in the U.S. are down too, from $4.33 a gallon to … $4.32. So what gives? Today, we’ll dig into the disconnect between crude oil and gasoline and why the price spike hasn’t juiced electric vehicle sales. Plus: How global markets could respond to a Russian debt default and what the life of Zappos CEO Tony Hsieh teaches us about happiness and success.
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China’s omicron surge is small by American standards. But the same zero-COVID policy that allowed its factories to churn out goods during the pandemic is now slowing down electronics manufacturing and restricting activity in major cities. We’ll bring you the view on the ground in Shanghai. Plus: Advocates say the U.S. should do more for Ukrainian refugees, in-person shopping gets a lift as mask mandates fall away and new demand for aluminum cans is leaving craft brewers behind.
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The stock market is often used as a predictor of risk — financial, sure, but also geopolitical and global. The major indexes closed out a volatile week down slightly, but not far from where they were two weeks ago. What to make of that? We asked some experts. Also on today’s program: War complicates the Federal Reserve’s moves on inflation, and crypto miners seek cheap energy in upstate New York.
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Palaces, private jets and superyachts — these are among the prized possessions of Russian oligarchs who have been singled out and sanctioned by the United States, the United Kingdom, the European Union and others. Today, we’ll examine the history of oligarchs, the relationship between them and Russian President Vladimir Putin and the iffy impact sanctions on these superrich types might have. Plus: Wages struggle to keep up with inflation, humanitarian organizations rediscover the “cash is king” approach to aid and the war in Ukraine threatens to worsen global food insecurity.
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When McDonald’s opened its Moscow location in the early ’90s, it signaled Russia’s transition to a market economy. But now corporations are pulling out over the war in Ukraine, and the Russian economy has been hollowed out by Western sanctions. Could the country be reverting to Soviet-era government interference? We’ll talk about it with the author of “Putinomics.” Later in the show: Why a federal gas tax holiday won’t ease much pain at the pump, and why ramping up U.S. oil production wouldn’t be an overnight fix either.
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President Joe Biden announced a ban on Russian oil imports today, warning American consumers they’ll pay more at the pump. Historically, oil shocks have preceded recessions, but the pandemic may have equipped this economy to better withstand the price jumps. Later, we’ll examine why businesses are closing up shop in Russia and the country’s economic ties to China. Plus: How Americans can make sure their donations to Ukraine count.
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The average price for a gallon of gas in the United States is now more than $4. A lot of that price jump has to do with the surging cost of crude oil. With the U.S. and its allies discussing sanctions on Russian energy, we take a look at what it would mean to restrict one of the “last economic lifelines” for Russia’s economy and why the U.S. imports so much oil in the first place. Plus, the toll of war on Ukrainian students and a visit to San Francisco’s “Little Russia.”
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Bitcoin and other cryptocurrencies are relatively new, but they’re already changing the global economy. Ukraine is using cryptocurrency to fund its war efforts. We’re going to spend this month explaining how the crypto economy operates and answering all of the questions you might have been too afraid to ask. First, we’ll dig into the blockchain and bitcoin mining — no hard hat required. Plus: a great jobs report, the “London laundromat” and why the West still isn’t sanctioning Russian oil.
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Ukraine has become a hub for outsourced technology services over the past few years. That means the major tech companies that employ workers there are activating contingency plans to help keep those workers safe. Today, we’ll take a look at how some companies are responding when a part of their workforce is threatened by war. Also on today’s program: The job market appears to bounce back from omicron, investors flock to the security of the government bond market and Russian businesses in the U.S. struggle to retain patrons.
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A growing number of giant global businesses — including Apple, Shell, Ford and BP — are opting to divest from Russia in the wake of its invasion of Ukraine. That list also includes ExxonMobil, which manages and has a major stake in a Russian oil and gas project. Terminating those commitments will take time, cost billions and likely not change Vladimir Putin’s stance on Ukraine. We’ll also look at where OPEC+ oil is flowing, how a ban on Russian airlines will affect global aviation and what it means that the ruble is a free-floating currency. Plus: Federal Reserve chief Jerome Powell confirms the upcoming interest rate hike we’ve been expecting.
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Ukraine’s official Twitter account solicited donations in bitcoin and other online currency this weekend and reportedly received $20 million worth. Russians have also turned to cryptocurrency as an alternative to the plummeting ruble — and, potentially, a way for oligarchs to protect their wealth from sanctions. Plus: A look at the businesses that are divesting from Russia, and we delve into social media deplatforming Russia’s state media.
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The invasion of Ukraine and economic sanctions on Russia caused the ruble to tank on Monday, and everyday Russians are already starting to feel the pinch. The Russian Central Bank had already grown a rainy day fund of more than $600 billion in securities and reserves in foreign countries as a hedge against future sanctions. But the U.S. and its allies have frozen Russian assets and made them near-impossible to access. Also on today’s program, a look at why Russia’s valuable energy sector is evading sanctions, zooming in on Ukraine’s role in the global economy and explaining SWIFT, the global interbank messaging service.
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With Russia’s invasion of Ukraine came a new fleet of American sanctions against the oligarchs close to President Vladimir Putin. Cutting these barons of industry off from their billions involves untangling the web of shell companies and legal tricks they use to hide their wealth. Today, we look at the forensic accountants on the frontlines of U.S. sanctions. Plus, a look at Putin’s vast currency reserves and the quiet dread gripping New York City’s Little Ukraine.
The Russian invasion of Ukraine throws global trade, financial markets and domestic economies into great uncertainty. On today’s show, we consider the history that led to this moment and examine the upshot of the newest U.S. sanctions against Russia. Who ultimately bears that burden? And what might war in Europe mean for a global economy still grappling with damage done by the pandemic? Give today to support Marketplace.
We’ve talked quite a bit the past couple of days about the Ukraine conflict, sanctions against Russia and their impacts on the global economy. But it’s been six months since President Joe Biden withdrew troops from Afghanistan. American sanctions on the Taliban government are wreaking havoc, international aid has dried up and food insecurity is growing. Today, we check in on the state of humanitarian and economic crises currently playing out there. Also on the program: how home improvement stores are benefitting from the aging housing stock, and why more economic data doesn’t necessarily mean better economic forecasts.
Today, President Joe Biden announced that the U.S. would join the European Union in sanctioning Russia for its military actions in Ukraine. The restrictions are targeted but could push up grain prices and are stirring anxiety about global energy prices. Economic blowback, along with COVID-19, inflation and supply chain issues, amount to a “central banker’s ultimate nightmare.” We’ll explain. Plus: Why some apparel wholesalers are waiting to sell their inventory and how rising prices are affecting the service sector.
The United States has threatened Russia with “swift” and “severe” economic sanctions if the country further invades Ukraine. The unprecedented sanctions would target Russian financial institutions and potentially affect any company or individual with links to the Kremlin. Today, we’re joined by Marketplace’s London bureau chief, Stephen Beard, to hear about the global economic ripple effects — from inflation to an energy crisis — that trade restrictions on Russia could have. We’ll also look at the precarious existence of pandemic-era museums and hear how poachers are pushing some West Texas cactuses to extinction.
Bargain hunters be warned: It’s rough out there. Consumers are sensitive to inflation and searching for deals right now. But supply chain issues are producing scarcity and a willingness to pay a little more. Today, we look at the deals consumers can expect as companies aim to benefit from rising prices and increased retail sales. We also parse corporate performance metrics and break down the week’s biggest economic news with our panel of experts.
The economic gap between Americans with college degrees and those without has been growing for decades. That’s been driven in part by “degree inflation,” which puts millions with military, community college or on-the-job experience at a disadvantage, even in a tight labor market. Today, we hear from the nonprofits, companies and individuals trying to shrink that gap and prioritize skills over formal education. Plus: Permits point to a much-needed bump in home construction, the economy appears to be coping with COVID and a Brooklyn-based toymaker envisions the new Lego.
January’s retail numbers show that Americans are buying a lot. They’re purchasing furniture to make themselves more comfortable at home and are switching up that business-casual wardrobe for something more “business comfortable.” Even when accounting for inflation, there’s a boom in spending and demand — something the Federal Reserve is likely making note of as it eyes interest rate hikes. We’ll also examine the tiff over U.S.-China flights and why more students aren’t filling out the federal financial aid application.
It’s easy to remember the “before times,” but it’s a lot more challenging to envision the “after times.” Even if COVID-19 sticks with us forever, that doesn’t mean we’ll always be living in a pandemic. Today, we’ll dig into how exactly we can tell when the pandemic is behind us and what our norms, our economy and our lives might look like. Plus: Inflation hits oil and lumber, and the Great Resignation hits inflation.
The highest inflation in years comes with the lowest consumer sentiment in a decade. Or is it the other way around? With low morale due to inflation, wages increase to compensate, prices escalate to address higher wages … and worries of the inflation-sentiment spiral continue. But these mind games won’t last forever. Also on today’s episode, we look into what’s happening with the racial discrimination lawsuit against the NFL; how the Russia-Ukraine conflict is driving up oil prices; and how the demolition of weekly motels in Reno, Nevada, has shed new light on the city’s housing crisis.
Rams or Bengals? Buffalo sauce or barbecue? Cash, credit or crypto? Tune in to the Super Bowl this Sunday, and you’ll notice that cryptocurrency exchange companies are investing millions for screen time during commercial breaks. The industry sees a lot of potential among sports fans, and on today’s show we’ll talk you through the strategy. We’ll also talk about MoviePass, which is staging a comeback in a changed industry. But first: Just how hawkish will the Federal Reserve get?
This morning’s inflation numbers tell a story: Prices are going up faster than they have in 40 years, cutting into profits. But Tyson Foods saw its profits soar by double digits last quarter. Aren’t companies like Tyson feeling supply chain disruptions and inflation the same as the folks who are buying meat at the grocery store? Plus: The holdover law from the 1970s stopping universal access to fentanyl tests and a $5 billion plan to get electric vehicles road trip-ready.
The Ambassador Bridge, which connects Ontario to Detroit, carries more than a quarter of all goods traded between the U.S. and Canada. For three days now, truckers protesting Canada’s vaccine mandates and COVID-19 restrictions have blocked the bridge, interrupting a trade link critical to American automakers and Canadian parts manufacturers. It’s the latest in a long line of supply chain disruptions for the industry. Also on today’s show: A small-business love story from Draper, Utah, and a close look at how inflation is disproportionately affecting rural America.
Inflation clocked in at a decades-high 7% in December. But inflation varies depending on where you’re located. Today, we’ll take a look at what inflation feels like for businesses and consumers in Atlanta, Detroit and San Francisco, as well as the sectors in which prices may be higher for longer. We’ll also travel to Istanbul to hear how Turkey’s staggering 36% inflation rate is fueling a tourism boom for visitors eyeing luxury living at low cost. Buckle up — it could be a steep and bumpy ride.
Joe Rogan’s podcast will remain on Spotify following controversies over COVID misinformation and his past use of a racial slur. Still, the company’s CEO issued an apology to staffers this weekend. In a competitive industry with a tight labor market — and at a time when workers prioritize company values — the streaming platform may be less worried about keeping subscribers than it is about retaining employees. Plus: An inside look at China’s zero-COVID policy and supply chain management programs see a boom in student interest.
Whatever your adjective of choice, the January jobs report was — to say the least — surprising. Despite gloomy forecasts, employers added 467,000 jobs last month. Pay and labor force participation were up, too. Today, we’ll dig into the data and tackle more of this week’s economic news in the Weekly Wrap. Plus, the little perks just aren’t cutting it anymore to retain workers, and finding a home in a family-friendly neighborhood is easier said than done.
We’ve said before that now is a good time to be a job seeker. But more people are unemployed now than before the pandemic. On today’s show, we hear from a few folks who are looking for work and the barriers that stand in their way. Plus: Tech stocks take a tumble (with big ripple effects), and small businesses weigh the best ways to deal with inflation in the coming year.
Only 10 states have some version of paid family medical leave. Today we hear from a family who’s experienced two major medical events in two states, one that has paid family medical leave and one that does not. We examine how the policy has affected their financial and mental well-being. Plus, how omicron may mess with the numbers in January’s jobs report, and how being crafty has helped one microbusiness navigate the pandemic.
The pandemic has taken its toll on Indigenous workers, but take a look at the monthly jobs report from the Bureau of Labor Statistics and you wouldn’t be able to tell. That’s because the report omits American Indians and Alaska Natives. Today, we’ll take a look at what employment looks like in a few tribal communities and examine the difficulties of implementing policy without meaningful data. Plus, we’ll hear how businesses are grappling with inventory surpluses and look at what the deployment of Russian troops means for Ukraine’s economy.
The American Rescue Plan gave public schools $122 billion to update facilities and help students through the pandemic, but they’ll have to return whatever they don’t spend by September 2024. Today, we look into the pressures of working in a bureaucracy and why schools may need more time. Plus: Why our obsession with older homes might not be so charming and how economists are predicting Fed interest rate hikes will play out.
Working from home has opened up where people choose to reside, and data shows that climate change is increasingly factoring in, too. Today, we take a trip to Duluth, Minnesota, to hear from a few climate migrants who moved to the city, in part because they felt it safer from the impacts of the climate crisis. Plus: Inflation is still rising and consumers are still bummed about it.
Spending and inflation? Up. GDP? Also up. Interest rates? Soon to be up. After the economic nosedive that was 2020 and the huge rebound of 2021, we dig into when the Federal Reserve’s tentative rate hike is likely to ripple out to the rest of the economy. We’ll also take a look at why it’s so hard to pass climate legislation in the U.S. and hear from a venture capital fund investing in Black-founded health startups.
… Which is a lot of considering and a lot of signaling. On today’s show, we’ll look into when the Federal Reserve might raise interest rates, what a digital dollar could look like and how the Fed gauges wage inflation. Plus, a chat with the owner of a Hawaiian boat tour company about rebuilding following the Tonga tsunami.
Location has dictated salaries for a long time, but the remote-work revolution has allowed many workers to make the most of their salaries in more affordable cities. But some large national companies have indicated that employees moving to areas with a lower cost of living might be getting a cut in pay. Also on today’s episode: Russia leverages natural gas in the Ukraine crisis, the College Board announces the end of the analog SAT and the IMF sees slower economic growth for the year ahead.
Close to one-third of people who contract COVID-19 suffer long-term symptoms. Amid a massive labor shortage, we take a closer look at how long-haulers are impacting labor force participation and may do so for a long time to come. Also on today’s episode: Omicron sidelines manufacturing workers, an internet access subsidy program has a marketing problem and a chat with Nobel laureate Amartya Sen about his memoir.
But are they riskier than a ground war in Europe? And what do they mean for the international economy? As President Joe Biden weighs imposing additional sanctions on Russia to deter an invasion of Ukraine, we look into what those measures would cost the U.S., our allies and Russia. Also on today’s episode: Hello from the other side of concert cancellations, the factors behind the price of natural gas and the Weekly Wrap.
The Centers for Disease Control and Prevention recently upgraded their guidance on face masks: Nix the cloth or surgical masks in favor of N95s or KN95s. But not all masks are created equal. On today’s show, we hear from a “mask nerd” about how consumers can be discerning when shopping for face coverings online. Plus: Why unemployment claims are back up; how resume gaps are being destigmatized; and what construction companies are doing to tackle the labor shortage.
Trump, tariffs and Brexit — it might sound like a throwback, but it’s the present for British steelmakers. President Joe Biden cut a tax on steel imported from European Union countries last year, but the United Kingdom was excluded. Though the U.S. and U.K. plan on discussing the tariff rift, the future of British steel remains uncertain. We also hear about the impact of rising mortgage rates, tackle why rising oil prices could be here to stay and chat about a new environmental transparency policy for publicly traded companies.
Communication is key in any relationship — including the one between health officials and the public. On today’s show, a health literacy expert talks to us about how going “back to the communication basics” could aid the Centers for Disease Control and Prevention’s pandemic messaging. We’ll also hear about how omicron-induced lockdowns in China are affecting the global supply chain, why wireless carriers and airlines are still fighting over 5G and how U.S. Postal Service cuts could impact rural Americans.
More than 1 billion people use the short-form video platform TikTok monthly, presenting a huge marketing opportunity for businesses. Take, for example, the language learning company Duolingo, which uses its big, green owl mascot in zany videos and has amassed a huge following in recent months. Today, we’ll chat with Duolingo’s social media coordinator about the authenticity and communication styles that attract a younger audience. Plus: A more-stressful-than-usual tax season ahead, the factors behind a dip in community college enrollment and why every celebrity seems to have a beauty brand these days.
Since July, more than 36 million households have received a few hundred dollars every month through the expanded child tax credit. Tomorrow, that won’t be the case. In this episode, we hear what the extra cash has given families and what it means to have it taken away. We also hear why consumer sentiment took a dive, why bank loans might be making a comeback and what testing positive for COVID-19 has cost one family.
In December, employment prospects improved for every race and gender group — except Black women, for whom the jobless rate increased from 4.9% to 6.2%. Today, we look at how racism and segregation shaped the economic trajectory of women of color and how COVID could continue to hold them back. We’ll also hear how omicron is hampering trash collection, discuss why the outlook for initial public stock offerings is souring and explore the potential (and definition) of Web3.
The consumer price index clocked year-over-year inflation at 7% on Wednesday, the fastest pace since 1982. But month-over-month numbers and other factors point to a deceleration that could give consumers some relief. On today’s show, we do the numbers on inflation and wages. Plus, we visit new nuclear plants, contemplate a career pivot and trace the debate over alimony.
If you’re a renter in need of a chuckle, just look at the consumer price index, which calculates rent inflation at just 3% for last year. The cost is rising much faster for many renters, and other data sources show the increase near 18%. Today, we’ll talk about this wide data disconnect and why how we measure housing inflation is so important. We’ll also hear about the business of tracking other businesses’ shipments and check in with a downtown Los Angeles cheesemonger and a certified public accountant in New York City.
… it’s because we have. As omicron surges nationwide, nearly a quarter of hospitals are critically short-staffed, according to federal data. That’s forcing hospitals to once again make tough calls, like limiting bed capacity, cutting elective surgeries or asking health care workers back — even if they’ve tested positive for COVID-19. We’ll also tackle the challenges of constructing housing that’s affordable and carbon neutral, take a look at why big bank investors are optimistic about fourth-quarter earnings and hear how a team of British researchers is hoping to harness the power of the sun.
Unemployment fell in December close to a pre-pandemic low. But the economy added far fewer jobs than economists expected. So what gives? It has to do with the two different surveys that make up the monthly jobs report and how they define “employment.” Plus: App-based payments come out from “under the table,” higher fees come for second homes and people shift how they do their ‘dos in the pandemic.
One year ago, supporters of Donald Trump stormed the U.S. Capitol in a violent and deadly attempt to overturn the results of the 2020 election. Today, we revisit the economic ripples of the Jan. 6 insurrection and examine how political instability continues to hamper the economic recovery. We’ll also hear how utility infrastructure plays into wildfire prevention, what a festival cancellation means for surrounding businesses and why consumers have a gloomier outlook than the economy does.
Though the United Kingdom formally ended its European Union membership at the start of 2020, last week marked the one-year anniversary of the U.K. severing remaining ties with the EU. Today, we hear about the hopes, frustrations and economic outlooks of five small U.K.-based companies 12 months on. Plus: hints of an easing supply chain, a growing industry to manage office downsizing and a high-tech tractor that could curb a shortage of agriculture workers.
While a group of GOP-led states is currently pushing against NASDAQ board diversity requirements, some corporations have already ramped up their diversification efforts. The number of directors from underrepresented racial and ethnic groups jumped by 25% in 2021, and women now make up almost 30% of directors among Russell 3000 Index companies. The shift, while slow, hints at the changing values of companies and their investors. We’ll also hear from recruiters experiencing a boom in business, head to Albuquerque as it pilots a zero-fare bus program and check in with small retailers catching a breath after holiday shopping.
California is home to nearly one-quarter of the country’s homeless population, a count that has likely grown during the pandemic. Last year, the mayor of Sacramento — home to 11,000 people without homes — proposed a radical solution to the city’s homelessness crisis: treat housing as a legal right. Housing advocates largely support the proposal, except for a controversial part requiring homeless residents to move to a temporary shelter or be removed from their current locations. Also on today’s program, big banks delay their back-to-office plans, the strategies behind some brands’ familiar chimes and why energy companies are racing to liquefy natural gas.
Even if it may not feel like it amid spiking COVID-19 cases, we are in a very different world — and economy — than the one we were in a year ago. Today, we’re taking a look back at 12 months of inflation, supply chain headaches and child care issues. We’ll also look at what interest rates and consumer spending might be like as we continue to redefine “going back to normal” in 2022. Plus: an argument for ethical AI, examining a piece of “must-pass” legislation and the reflections of a parade organizer.
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In late November, commissioners in Montgomery County — located north of Houston — voted to return $7 million in unused federal rent relief. But some renters there are still facing eviction, and many have found it difficult to access county- and state-level COVID relief funds. As the federal government works to reallocate rent relief, we pay a visit to Montgomery County to see how officials, activists and renters are responding. But first, a look at what 2022 might bring for the job market, how restaurants and bars are planning for a second New Year’s Eve with COVID and why a big-ticket bailout for the U.K.’s hospitality industry still might only be a drop in the bucket.
A little over a year ago, the first American received a COVID-19 vaccine. Now, we’re averaging more than 250,000 positive COVID cases per day. This year has been … a lot. Consumers and workers are more resilient but are tired or burned out. Counselors and clinicians are overwhelmed with the scale of grief they’ve been tasked with addressing. Today, we’ll talk about the psychological toll the pandemic has taken, how to grieve the lives we once knew and how to live with this continued uncertainty. Plus: The huge price tag of returning those unwanted holiday gifts, a new holistic approach to preventive care coming to California and a look at Japan’s hydrogen-focused plan to reach net-zero emissions by 2050.
The pandemic has exacerbated the country’s opioid crisis. More than 100,000 people in the United States died from drug overdoses last year in the highest one-year death toll on record. Today, we take a look at a recently expanded program in California, one that utilizes medically assisted treatment in emergency rooms and is becoming a model for other programs around the nation. We’ll also hear about the questions Moderna’s shareholders are raising regarding global vaccine equity, take a look at the future of streaming services and examine Brexit’s impact on the United Kingdom’s role as a hub for plundered antiquities.
On Monday, the Centers for Disease Control and Prevention reduced the recommended isolation period for people who get COVID-19 from 10 days to five. Still, COVID cases are surging with the spread of the omicron variant. Now airline, health care and service industries are facing yet another wave of staffing disruptions without the government support they had at the beginning of the pandemic. Also on today’s show: How the pandemic has shifted the gaming console industry, an early look at holiday shopping stats and identifying the impact of the next Great Migration.
At the start of 2022, more than 50 jurisdictions are slated to raise their minimum wage rates, many to $15 an hour or more. Despite widespread support for increased minimum wages and years-long activism, efforts to boost the minimum wage at the federal level have largely stalled. But even as many employers independently raise pay amid a tight labor market, inflation continues to chip away at the gains made by many workers. Also on today’s program: A look back at the week, what consumer spending looks like amid the arrival of omicron, how the surge in electric vehicle demand impacts the Democratic Republic of the Congo and a festive take on The Numbers.
Before the pandemic, roughly a quarter of schools in the United States didn’t employ a school nurse at all, and less than half employed nurses full time. Now, many of those nurses are adding contract tracing and COVID-19 testing to their already lengthy list of duties to keep kids healthy. These stressors are pushing some school nurses to their breaking point and highlight the issue of understaffing, which can be detrimental in communities where the school nurse’s office may be the only access to health care some students have. Also on today’s program: Americans are returning to their pre-COVID saving habits, airlines are pushing for reduced CDC quarantine guidelines and some indie musicians are turning to indie revenue streams.
It won’t appear as an additional tax or fee on a receipt, but if you’re single in the U.S., you’re paying more than your married peers. That’s because policies and programs, from Social Security to the tax code, were written when it was assumed that Americans would get and stay married. Today, we’ll hear from journalist Anne Helen Petersen about how your relationship status can dictate your economic outlook and whether policies are likely to change with the changing population. Plus: Consumer confidence creeps up despite omicron, a historically Black college gives students a generous gift with no strings attached, and how hard-to-find COVID tests illustrate the challenges of relying on a private industry during a public health crisis.
When you head to an outdoorsy town or resort community to get away from it all, it can be easy to forget the people who live and work there full time, ensuring that the place runs smoothly. The tourism that many of those towns rely on can also produce housing pressures. Marketplace’s Amanda Peacher takes us to Joshua Tree, California, where short-term vacation rentals make up more than one-quarter of the housing stock. As she points out, the affordable-housing shortage is becoming more common around the Western U.S. Also: What the holiday spending habits of four families tell us about the economy, what hurdles await President Joe Biden’s plan for distributing at-home COVID tests and what 20% inflation looks like in Turkey.
How much pull on the economy can one man have? Quite a bit, it turns out. On Sunday, Sen. Joe Manchin, a Democrat, announced that he would not be supporting the Build Back Better Act, citing inflation concerns. The bill, a foundational part of President Joe Biden’s agenda, has billions slated for social spending programs and addressing the climate crisis. Today, we’ll see where that leaves climate scientists and take a closer look at the impact government spending has on inflation. Plus, we’ll hear about a new lender for native farmers and ranchers, see what loan payment pauses have meant for students and look at the art and imperfect science of economic forecasting.
Remember just a few weeks back, when we didn’t know whether this new COVID-19 variant was pronounced ah-micron or oh-micron? However you say it, it’s at the doorstep and ready to barge into the economy. Today, we’ll tackle omicron in the Weekly Wrap, hear how businesses are reacting to it with little new guidance and see why the hottest item this holiday season — a rapid COVID test — is becoming hard to find. Also: Why private equity investments are booming and how a Nashville record store is trying to survive a scorching real estate market.
In case you haven’t heard … prices? They’re higher these days. That’s not terribly surprising, given the global supply chain debacle, but it turns out a once-in-a-lifetime pandemic has an impact, too. Dozens of countries have experienced inflation since the onset of the pandemic, and the United States has one highest rates. Today, we look at how the U.S. approach to addressing inflation differs from other countries around the globe. We’ll also take a trip to a warehouse to see its role in the global supply chain, hear how the Great Resignation isn’t necessarily benefitting everyone and celebrate jobless claims that haven’t been this low since the Beatles were together.
As part of a COVID-19 relief package last spring, Congress expanded the federal child tax credit and started sending it out in monthly installments. For many families, the extra couple of hundred dollars each month has provided a cushion for emergencies or has been spent on essentials, like rent and utilities. But the expansion is temporary, and unless Congress passes President Joe Biden’s social spending plan, the decline in childhood poverty we’ve seen could be temporary, too. Inflation is also on today’s agenda, including how it was discussed at today’s Fed meeting, where it might linger in the economy and whether wage growth will be able to keep up with it.
The producer price index came out today and — no surprise — inflation is hitting the folks who make the products we buy, too. The Federal Reserve is meeting today, but what exactly can it do to address rising prices? Though the central bank can taper bond buying, raise interest rates and communicate its plans more, it still has little control over issues dominating the economy right now, like COVID-19 and supply chain woes. Plus: How the pandemic reinvigorated DIY home renovations, why buying a new car is likely to remain troublesome for a while, and why officials are concerned that there might not be enough water to go around in rural West Texas.
After devastating tornadoes swept through Kentucky last week, killing dozens and destroying thousands of homes, displaced residents are left wondering where to go. Kentucky already had a shortage of affordable housing, with 30% of the state’s renters at or below the poverty line. On today’s show, we hear from Adrienne Bush, executive director of the Homeless & Housing Coalition of Kentucky, about the need for investment and policy changes to ensure short- and long-term recoveries. We’ll also hear how American consumer demand is adding to supply chain disruptions, why holiday shipping is on a smoother track than last year and what a mistletoe auction in small-town Britain tells us about the U.K.’s economic recovery.
Odds are, you’ve heard the figure by now: 6.8%. That’s what the consumer price index clocked for year-over-year inflation today. Those rising prices, especially for essentials like food and housing, are squeezing folks on low or fixed incomes. Though the federal government uses the CPI to adjust things like food aid and Social Security, economists are increasingly concerned that additional changes may be needed so benefits can keep up with inflation. But first, the Weekly Wrap, followed by a look at FEMA’s climate resilience plans and a dive into how a classic ballet performance is becoming more inclusive.
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While both chewing on the lowest number of initial unemployment claims since the late 1960s and bracing for tomorrow’s inflation data for November, we decided to cast our minds ahead to December 2022. What’s the labor market going to look like in 365 days? Can we expect inflation to continue roaring ahead? We asked some experts to peer into the crystal ball. Also: Sabri Ben-Achour reports on China’s state-sponsored industrial espionage and an explainer on the significance of waning worker productivity.
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If you’ve set foot inside any chain or big-box store in the past couple of months, odds are you’ve spotted an empty shelf or two. While it’s been difficult for lots of major retailers to get the products and supplies they’ve ordered, smaller businesses have found themselves nimble enough to fill those gaps. Today, we’ll hear from three small businesses about how they’ve been able to maneuver and flourish. Plus: the Great Resignation is still in full swing; COVID gives rise to a more lively freelance economy; and why inflation can benefit borrowers (complete with a history lesson).
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In February, Glauber Contessoto invested his life savings in dogecoin, a cryptocurrency that started as a joke. But his gains are for real. He now owns more than $800,000 in dogecoin. Marketplace’s Matt Levin chats with Contessoto about the HODL — or “hold on for dear life” — mentality that keeps him and other investors in the crypto game despite incredible volatility. Also on today’s program: Why exports surged in October, what’s behind the battle for speedy grocery deliveries and the transition away from fossil fuels takes center stage at the World Petroleum Congress.
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If the U.S. economy had a Facebook profile, its relationship status with jobs would be set to … well … “It’s complicated.” The Bureau of Labor Statistics released a muddled job report last week, with a little over 200,000 jobs added to the economy. Data from other sources also shows a tumultuous recovery: Wages are up, though they’re not keeping up with inflation; upper-income professionals feel strong job security, but the service sector tells a different story. We’ll also hear how restaurants are prepping for a winter with omicron, see how hybrid and remote work could hold women back, and discuss why home equity lines of credit could be making a return.
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Natural gas prices have skyrocketed in recent months thanks to strong global demand. Today, Marketplace’s Andy Uhler takes us to a village in northwest Louisiana where many landowners signed away their mineral rights to drillers. The resulting infusion of cash revived the local economy but has come at an environmental cost for some in the area. We’ll also digest a muddled jobs report in the Weekly Wrap, discuss whether job growth in the warehouse sector is here to stay and tackle the frustrations of on-and-off return-to-office plans.
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Workers over 65 were the fastest-growing segment of the labor force before the pandemic. But as the pandemic persists and new coronavirus variants spread, older adults have been slow to return to the workforce, and many have simply retired early. In a tight labor market, that shrunken labor pool could persist for years to come. We’ll also hear how bond buying could translate into higher mortgage rates, how omicron could further complicate the global supply chain and how stock images play a role in reinforcing whiteness.
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California’s portside neighborhoods, which are home to many low-income residents and communities of color, have long suffered from polluted air. But supply chain bottlenecks have worsened that pollution, which has been linked to cancer, heart disease and asthma. Though community advocates have pushed for emissions reductions, demand for goods that filter through the port is still at a record high. Also on the show today: A chat with Visa’s CEO about the future of digital payments; economists weigh in on how omicron could affect the market; and why it can be hard to find a public bathroom.
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