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Marketplace
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 t
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Episodes
The business of getting offices back in business
How do I make non-Zoom eye contact? What should I share about my personal life? Is my lunch stinky? Work etiquette experts are helping companies ease the back-to-office transition. Also in this episode: UAW strike strategies, the economics of recycling plastic, a hops farm check-in and domestic worker contracts.
The business of getting offices back in business
How do I make non-Zoom eye contact? What should I share about my personal life? Is my lunch stinky? Work etiquette experts are helping companies ease the back-to-office transition. Also in this episode: UAW strike strategies, the economics of recycling plastic, a hops farm check-in and domestic worker contracts.
28:14
25 Sep 23
The early bird gets the worm
Diners are digging in earlier than ever across the U.S. It’s an adjustment for the restaurant industry, but it might be better for workers and eaters alike. Plus, a flood of new apartment buildings should ease rent inflation, but it won’t solve the housing crisis. We’ll also analyze the week’s economic happenings with The New York Times’ Jeanna Smialek and Politico’s Sudeep Reddy.
The early bird gets the worm
Diners are digging in earlier than ever across the U.S. It’s an adjustment for the restaurant industry, but it might be better for workers and eaters alike. Plus, a flood of new apartment buildings should ease rent inflation, but it won’t solve the housing crisis. We’ll also analyze the week’s economic happenings with The New York Times’ Jeanna Smialek and Politico’s Sudeep Reddy.
26:56
22 Sep 23
50 years after the oil embargo, the U.S. is playing catch-up
The idea of energy “conservation” was new to Americans in 1973. Experiencing a first-of-its-kind gasoline shortage, the U.S. began to encourage fuel efficiency in cars and homes. If President Ronald Reagan hadn’t reversed such commitments, would renewable energy be ubiquitous today? Plus, doing without: manufacturing without temp workers, the Fed without government economic data and NYC without Airbnb.
50 years after the oil embargo, the U.S. is playing catch-up
The idea of energy “conservation” was new to Americans in 1973. Experiencing a first-of-its-kind gasoline shortage, the U.S. began to encourage fuel efficiency in cars and homes. If President Ronald Reagan hadn’t reversed such commitments, would renewable energy be ubiquitous today? Plus, doing without: manufacturing without temp workers, the Fed without government economic data and NYC without Airbnb.
28:39
21 Sep 23
Do you advertise en Español?
About three-quarters of Latinos in the U.S. speak at least some Spanish. Marketing experts have caught on. We’ll talk to a few about how they strike an English-Spanish balance in ads geared toward the growing demographic. Plus, Amazon is already aggressively hiring for the holidays, Japan might prop up the yen again, and the Federal Reserve didn’t raise rates — this time.
Do you advertise en Español?
About three-quarters of Latinos in the U.S. speak at least some Spanish. Marketing experts have caught on. We’ll talk to a few about how they strike an English-Spanish balance in ads geared toward the growing demographic. Plus, Amazon is already aggressively hiring for the holidays, Japan might prop up the yen again, and the Federal Reserve didn’t raise rates — this time.
27:18
20 Sep 23
The facial recognition software cops are raving about
Clearview AI, widely used by U.S. law enforcement, can find a face anywhere on the internet thanks to a database of billions of scraped photos. Journalist Kashmir Hill, who recently published a book about Clearview, will tell us what it was like to investigate a company that’s always watching. Plus, the viability of a four-day workweek for blue-collar jobs and an electrical transformer shortage.
The facial recognition software cops are raving about
Clearview AI, widely used by U.S. law enforcement, can find a face anywhere on the internet thanks to a database of billions of scraped photos. Journalist Kashmir Hill, who recently published a book about Clearview, will tell us what it was like to investigate a company that’s always watching. Plus, the viability of a four-day workweek for blue-collar jobs and an electrical transformer shortage.
26:17
19 Sep 23
Would you take a job that might make you work for free?
With government shutdowns becoming more frequent — we could have another one at the end of the month — taking a government job isn’t all that appealing. Why worry about the uncertainty of a furlough when plenty of other companies are hiring? We’ll also tackle the environmental impacts of barge shipping, hard-to-find auto parts in the U.S. and members-only shopping in China.
Would you take a job that might make you work for free?
With government shutdowns becoming more frequent — we could have another one at the end of the month — taking a government job isn’t all that appealing. Why worry about the uncertainty of a furlough when plenty of other companies are hiring? We’ll also tackle the environmental impacts of barge shipping, hard-to-find auto parts in the U.S. and members-only shopping in China.
27:56
18 Sep 23
Is it time to question the economic vibe?
Consumer spending is key to this economy, but Americans are running through their cash just as student loan repayments are coming due. Could that be the straw that breaks the consumer’s back? We’ll discuss it on the Weekly Wrap. Plus, how car dealers are reacting to the UAW strike, why immigration is important to the AI race and why gross domestic product and gross domestic income often don’t match up, even though they should.
Is it time to question the economic vibe?
Consumer spending is key to this economy, but Americans are running through their cash just as student loan repayments are coming due. Could that be the straw that breaks the consumer’s back? We’ll discuss it on the Weekly Wrap. Plus, how car dealers are reacting to the UAW strike, why immigration is important to the AI race and why gross domestic product and gross domestic income often don’t match up, even though they should.
26:01
15 Sep 23
How to price an IPO so it “pops”
Shares of chip designer Arm Holdings surged 25% above their initial public offering price of $51 in the company’s stock market debut today. A lot went into deciding on that price. Today, we dig into what it takes to make an IPO “pop.” Later, the United Auto Workers plans to target its work stoppages as a strike looms. And will Social Security’s cost-of-living increase be enough to help older Americans keep up with inflation next year?
How to price an IPO so it “pops”
Shares of chip designer Arm Holdings surged 25% above their initial public offering price of $51 in the company’s stock market debut today. A lot went into deciding on that price. Today, we dig into what it takes to make an IPO “pop.” Later, the United Auto Workers plans to target its work stoppages as a strike looms. And will Social Security’s cost-of-living increase be enough to help older Americans keep up with inflation next year?
26:57
15 Sep 23
What will inflation look like in 6 months?
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.
What will inflation look like in 6 months?
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.
26:41
13 Sep 23
Poverty rose last year. Inflation’s only part of the story.
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.
Poverty rose last year. Inflation’s only part of the story.
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.
27:08
12 Sep 23
When a 10-day strike could cost $5 billion
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.
When a 10-day strike could cost $5 billion
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.
29:40
11 Sep 23
What rising corporate bankruptcies tell us about the economy
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.
What rising corporate bankruptcies tell us about the economy
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.
26:47
8 Sep 23
The Chicago Fed president on the path forward for interest rates
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.
The Chicago Fed president on the path forward for interest rates
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.
28:22
7 Sep 23
A strong dollar spells trouble for other economies
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.
A strong dollar spells trouble for other economies
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.
26:14
6 Sep 23
Why oil prices jumped today
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.
Why oil prices jumped today
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.
25:47
5 Sep 23
Tracing the roots of Labor Day
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.
Tracing the roots of Labor Day
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.
25:34
4 Sep 23
GDP doesn’t care how you feel
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.
GDP doesn’t care how you feel
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.
27:49
1 Sep 23
Get used to these labor shortages
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.
Get used to these labor shortages
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.
28:08
31 Aug 23
Give yourself a pat on the back
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?
Give yourself a pat on the back
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?
28:20
30 Aug 23
A labor market that’s cooling, but not cool
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.
A labor market that’s cooling, but not cool
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.
29:13
29 Aug 23
A brake tap on wage gains
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.
A brake tap on wage gains
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.
29:09
28 Aug 23
Remember the $5 footlong? Thank behavioral economics.
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.
Remember the $5 footlong? Thank behavioral economics.
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.
28:57
25 Aug 23
Manufacturing is down in the dumps, but things may be looking up
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.
Manufacturing is down in the dumps, but things may be looking up
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.
28:43
24 Aug 23
Real wages rebound, while low-income earners play catch-up
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.
Real wages rebound, while low-income earners play catch-up
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.
27:03
22 Aug 23
A barometer for the AI economy
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.
A barometer for the AI economy
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.
27:13
21 Aug 23
Houston’s heat wave is taking its toll
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?
Houston’s heat wave is taking its toll
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?
28:17
18 Aug 23
The most predicted recession … if it happens at all
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.
The most predicted recession … if it happens at all
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.
28:01
17 Aug 23
Say we achieve a soft landing. Then what?
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.
Say we achieve a soft landing. Then what?
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.
27:50
16 Aug 23
When will the Federal Reserve start cutting interest rates?
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.
When will the Federal Reserve start cutting interest rates?
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.
27:40
15 Aug 23
Life’s bananas. Let’s buy something!
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.
Life’s bananas. Let’s buy something!
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.
28:37
14 Aug 23
Don’t lose sleep over the uptick in producer prices
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?
Don’t lose sleep over the uptick in producer prices
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?
27:15
11 Aug 23
Would you trust AI for financial advice?
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.
Would you trust AI for financial advice?
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.
27:03
10 Aug 23
Political economics, zero-COVID and China’s slowing recovery
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.
Political economics, zero-COVID and China’s slowing recovery
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.
27:34
10 Aug 23
The “slow burn” phase of the banking crisis
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.
The “slow burn” phase of the banking crisis
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.
27:19
8 Aug 23
Why China’s economic rebound has fallen short of expectations
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.
Why China’s economic rebound has fallen short of expectations
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.
26:39
7 Aug 23
Can we let the economic good news be good news?
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.
Can we let the economic good news be good news?
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.
28:06
4 Aug 23
Bitcoin, election anxiety and second passports
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.
Bitcoin, election anxiety and second passports
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.
27:39
3 Aug 23
An economic vibe shift?
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.”
An economic vibe shift?
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.”
27:50
2 Aug 23
Is the current job market music to the Fed’s ears?
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.
Is the current job market music to the Fed’s ears?
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.
27:13
1 Aug 23
The country’s newest test case for nuclear power
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.
The country’s newest test case for nuclear power
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.
28:26
31 Jul 23
Inside the Deadhead economy
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.
Inside the Deadhead economy
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.
28:43
28 Jul 23
What’s behind those annoying customer service hold times?
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.
What’s behind those annoying customer service hold times?
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.
27:45
27 Jul 23
Interest rates are high, but consumer confidence is up
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.
Interest rates are high, but consumer confidence is up
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.
27:43
26 Jul 23
A view of the post-peak housing market
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.
A view of the post-peak housing market
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.
28:17
25 Jul 23
The origin story of Friedman’s “long and variable lag”
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.
The origin story of Friedman’s “long and variable lag”
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.
27:04
24 Jul 23
Your move, Federal Reserve
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.
Your move, Federal Reserve
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.
28:24
21 Jul 23
Fragmented medical records are a danger to our health
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.
Fragmented medical records are a danger to our health
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.
27:49
20 Jul 23
Stay cool out there
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.
Stay cool out there
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.
25:58
19 Jul 23
Confused by the economy right now? So are economists.
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.
Confused by the economy right now? So are economists.
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.
25:33
18 Jul 23
How China does the numbers
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.
How China does the numbers
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.
26:57
17 Jul 23
Regulate crypto? Sure. But how?
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.
Regulate crypto? Sure. But how?
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.
27:59
14 Jul 23
Why you should pay attention to bank earnings
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.)
Why you should pay attention to bank earnings
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.)
27:24
13 Jul 23
Wages are outpacing inflation again, but don’t get too excited
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.
Wages are outpacing inflation again, but don’t get too excited
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.
25:53
12 Jul 23
Meet the employees secretly “working from home” overseas
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?
Meet the employees secretly “working from home” overseas
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?
26:27
11 Jul 23
Janet Yellen recaps a “constructive” trip to China
“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.
Janet Yellen recaps a “constructive” trip to China
“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.
26:27
10 Jul 23
On the ground with Janet Yellen in China
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.
On the ground with Janet Yellen in China
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.
27:57
7 Jul 23
How to read all the new jobs data coming in
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.
How to read all the new jobs data coming in
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.
28:16
6 Jul 23
Man, it’s a hot one!
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.
Man, it’s a hot one!
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.
28:23
5 Jul 23
Happy 247th birthday, USA! How’s that economy holding up?
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!
Happy 247th birthday, USA! How’s that economy holding up?
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!
28:18
4 Jul 23
Becoming an American citizen is expensive
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?
Becoming an American citizen is expensive
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?
27:56
3 Jul 23
A pulse check of inflation across the globe
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.
A pulse check of inflation across the globe
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.
28:39
30 Jun 23
The business impact of today’s affirmative action ruling
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.
The business impact of today’s affirmative action ruling
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.
28:32
29 Jun 23
“Bidenomics,” explained
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.
“Bidenomics,” explained
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.
29:15
28 Jun 23
A housing market recovery … kinda
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.
A housing market recovery … kinda
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.
28:12
27 Jun 23
How much trouble is in store for office real estate?
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.
How much trouble is in store for office real estate?
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.
29:02
26 Jun 23
Economic forecasters are saying, “TGIF!”
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.
Economic forecasters are saying, “TGIF!”
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.
27:47
23 Jun 23
Decision time
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.
Decision time
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.
29:15
22 Jun 23
Translating all that Fedspeak
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.
Translating all that Fedspeak
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.
27:53
21 Jun 23
With other countries in recession, will the U.S. follow suit?
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.
With other countries in recession, will the U.S. follow suit?
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.
28:14
20 Jun 23
What high mortgage rates means for Black homeownership
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.
What high mortgage rates means for Black homeownership
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.
28:23
19 Jun 23
Regional banks aren’t out of the woods yet
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.
Regional banks aren’t out of the woods yet
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.
28:09
16 Jun 23
The American consumer just won’t quit
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 American consumer just won’t quit
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.
28:17
15 Jun 23
The Fed presses pause on interest rate hikes
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.
The Fed presses pause on interest rate hikes
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.
29:27
14 Jun 23
We’re in the stubborn phase of inflation cooling
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.
We’re in the stubborn phase of inflation cooling
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.
27:24
13 Jun 23
Should the Fed raise its 2% inflation target?
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.
Should the Fed raise its 2% inflation target?
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.
28:46
12 Jun 23
Americans have a record amount of credit card debt
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.
Americans have a record amount of credit card debt
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.
29:16
9 Jun 23
General Motors’ goal? All electric, all the time
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.
General Motors’ goal? All electric, all the time
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.
28:14
8 Jun 23
A “considerable slowdown” in wage growth
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.
A “considerable slowdown” in wage growth
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.
28:56
7 Jun 23
What’s behind the SEC’s crypto lawsuits?
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.
What’s behind the SEC’s crypto lawsuits?
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.
28:41
6 Jun 23
Saudi Arabia’s oil cuts may not mean higher gas prices
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.
Saudi Arabia’s oil cuts may not mean higher gas prices
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.
29:02
5 Jun 23
Women’s labor force participation rate hits an all-time high
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.
Women’s labor force participation rate hits an all-time high
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.
27:34
2 Jun 23
When the government has to play catch-up in the bond market
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.
When the government has to play catch-up in the bond market
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.
27:11
1 Jun 23
Would the debt deal’s cuts draw blood?
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?
Would the debt deal’s cuts draw blood?
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?
28:02
31 May 23
Businesses are flocking to suburbia
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.
Businesses are flocking to suburbia
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.
28:29
30 May 23
How the debt ceiling deal got done
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.”
How the debt ceiling deal got done
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.”
27:56
29 May 23
If faith is lost in our full faith and credit
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.
If faith is lost in our full faith and credit
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.
28:11
26 May 23
Why don’t we know when the U.S. will run out of money?
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.
Why don’t we know when the U.S. will run out of money?
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.
27:50
25 May 23
Atlanta Fed CEO on the debt limit debacle and curbing inflation
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.
Atlanta Fed CEO on the debt limit debacle and curbing inflation
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.
27:53
24 May 23
What you miss when you miss watercooler conversations
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.
What you miss when you miss watercooler conversations
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.
27:48
23 May 23
What’s really at the heart of the debt limit debate?
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.
What’s really at the heart of the debt limit debate?
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.
27:19
22 May 23
Companies go on a borrowing spree
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.
Companies go on a borrowing spree
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.
27:42
19 May 23
Call 2023 the year of bankruptcies
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.
Call 2023 the year of bankruptcies
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.
26:20
18 May 23
Your next home might just be a new home
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.
Your next home might just be a new home
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.
28:22
17 May 23
Maybe reconsider those “normal” economic indicators
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.”
Maybe reconsider those “normal” economic indicators
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.”
28:17
16 May 23
Disappointed this tax season? So is the federal government.
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.”
Disappointed this tax season? So is the federal government.
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.”
28:24
15 May 23
The FDIC is asking big banks to pay up
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.
The FDIC is asking big banks to pay up
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.
27:05
12 May 23
When a strong economy fuels strong migration
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.
When a strong economy fuels strong migration
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.
27:18
11 May 23
The death of revenge spending
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.
The death of revenge spending
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.
26:41
10 May 23
When are markets gonna react to the debt limit drama?
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.
When are markets gonna react to the debt limit drama?
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.
27:19
9 May 23
“I worry that people don’t think it can happen here”
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.
“I worry that people don’t think it can happen here”
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.
28:28
8 May 23
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