Marketplace

Tariff whack-a-mole

Fri, 13 Mar 2026 22:35:00 +0000

After the Supreme Court overturned many of President Trump’s tariffs, his administration implemented new import taxes through a different legal avenue. But those are only temporary. Next up in the White House's game plan to claw those tariffs back? Unfair trade practice probes into dozens of countries — including several U.S. allies. Also in this episode: SNAP recipients sue the USDA over restrictive policies, a federal agency considers regulating prediction markets like Kalshi and Polymarket, and e-retailers hawk counterfeit skincare products.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Refineries brace for crude drought

Thu, 12 Mar 2026 22:25:00 +0000

President Trump’s war with Iran continues to provoke economic consequences. With the Strait of Hormuz closed, Middle East crude oil will be blocked from reaching refineries, including those in California. In this episode, what happens if those refineries run out of oil. Plus: Single-family home construction slows as costs rise, winter Paralympians face unique obstacles, and fickle weather reshapes the ski resort business model.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

CPI, demystified

Wed, 11 Mar 2026 22:20:00 +0000

The Februrary consumer price index report is out, and it’s got some new data points that can tell us what’s going on in the broader economy — even though plenty has changed since last month. In this episode: Natural gas prices were rising before war began in the Middle East, egg prices recover from avian flu while other grocery staples grow more expensive, and other CPI nuggets. Plus, President Trump’s tariffs may have a deflationary effect on the U.S. economy, but with a catch.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Jet fuel prices soar as war continues

Tue, 10 Mar 2026 22:15:00 +0000

As war in the Middle East pushes oil prices up, the price of jet fuel rises too. And that means air travel could get more expensive. The catch? Airlines are responding unevenly. In this episode, airlines balance pinched consumers with climbing fuel costs. Plus: Small business owner uncertainty is at its highest level in decades, investors scrutinize Oracle’s AI spending, and a Minneapolis cafe owner switches to a pay-what-you-can model amid ongoing ICE operations in the area.

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Consumers were pessimistic before the war. Now what?

Mon, 09 Mar 2026 22:35:00 +0000

Consumer sentiment was already trending negative before the war in Iran started, a war that so far has precipitated climbing oil prices and geopolitical uncertainty. The question is, how much more pessimistic can U.S. consumers get? Also in this episode: Commodities prices surge, we give a brief history lesson on the oil crises of the 1970s, and supermarkets compete for a slice of the Lone Star State’s growing population.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Job numbers fall short of expectations

Fri, 06 Mar 2026 23:35:00 +0000

The latest jobs report showed a loss of 92,000 jobs in February. After months of slightly easing, unemployment crept up too, to 4.4%. Even the health care sector, which reliably grows every month, lost 28,000 positions. In this episode, is it a blip or a sign of more cuts to come? Plus: Eli Lilly announced a new initiative to address the cost of GLP-1s, meteorologists build dedicated followings on social media, and we recap the week’s economic news.

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Why manufacturing employment continues to fall

Thu, 05 Mar 2026 23:25:00 +0000

The February jobs report isn’t out until Friday. Still, experts are all but certain the manufacturing sector will have lost jobs compared to last year. In this episode, a weak single-family housing market and chaotic tariff policy prevent U.S. manufacturers from bouncing back. Plus: Hiring managers don’t trust resumes in the era of AI, Americans are spending less of their income on food than ever before, and a sparse snow season in Colorado stresses all sorts of businesses.

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"The Pitt" is the ultimate workplace drama

Wed, 04 Mar 2026 23:35:00 +0000

R. Scott Gemmill swore he’d never make another medical drama after “ER.” Good news: We’d argue his hit HBO Max series “The Pitt” is really a workplace drama, anyway. In this episode, “Marketplace” host Kai Ryssdal sits down with Gemmill as he preps to write the show’s third season. They discuss the job of a showrunner, medical minds in the writers room, streaming versus network TV, and more. Plus: Global investors seek safety in U.S. dollars amid Middle East conflict, drone attacks on data centers reveal digital infrastructure weaknesses, and private hiring data signals a moderate jobs bump.

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War sends cargo to the skies

Tue, 03 Mar 2026 23:25:00 +0000

Military conflict, like the U.S. and Israel’s war with Iran, can wreck carefully planned cargo routes. While some ships were sent around the Horn of Africa to avoid the Red Sea, other merchants are pivoting to a costlier measure: transporting goods via airplane. The catch? Air cargo often travels through major airport hubs in the Persian Gulf. In this episode, logistics economics and geopolitical conflicts collide. Plus: Retailers release holiday earnings, vehicle sales may have rebounded, and Compass clashes with Zillow over online listings.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Overnight, a wartime economy

Mon, 02 Mar 2026 23:30:00 +0000

It’s too early to know how long the U.S. and Israel war against Iran will last. One certainty? All-out war comes at a cost. Already, Qatar has cut natural gas production, bond yields and gas prices are up, and shipping firms are rerouting cargo. The extent of the economic impact, however, remains to be seen. In this episode, we break down how the conflict is already shaping the economy and what to expect if it continues.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Fast-casual meal deals are upon us

Fri, 27 Feb 2026 23:30:00 +0000

When you hear "meal deal" you probably think of fast-food chains, like McDonald’s. But as daily life grows more unaffordable, a new tier of chain restaurants are adopting similar options to hang onto their cash-strapped regulars. It's why Panera just launched a new $10 value meal, and analysts expect other fast-casual joints to follow suit. Plus: Data center construction was up nearly 30% in 2025 but had a limited impact on GDP; buy now, pay later for rent payment comes at a price; we discuss the week’s economic headlines.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

A private credit market boom

Thu, 26 Feb 2026 23:05:00 +0000

The private credit market has grown fivefold since 2008 — it’s somewhere near the $2 trillion-mark globally. In this episode, we explain why policies aimed at alleviating the Great Recession triggered an explosion of non-bank lenders, and why their loans are riskier for the economy than traditional loans. Plus: Analysts expect wholesale inflation cooled a bit in January, retailers fret over a late-winter slump, and stock market predictions are sort of like baking a cake.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Expect and you shall recieve

Wed, 25 Feb 2026 23:35:00 +0000

Consumer surveys show us Americans think inflation will climb in the coming years. That belief could be one reason inflation actually does climb. See, when consumers think inflation will accelerate, it affects their spending decisions. And those choices aren’t without consequence. Also in this episode: Anthropic loosens its safety pledge to compete with other AI firms, video game sales could break records in 2026, and outgoing Atlanta Fed president Raphael Bostic discusses leadership at the central bank.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

"We're trying to control what we can control": A Fed president reflects

Tue, 24 Feb 2026 23:15:00 +0000

Raphael Bostic, president of the Atlanta Federal Reserve Bank since 2017, will step down from his post this week. “Marketplace” host Kai Ryssdal spoke with Bostic about where he sees inflation and the labor market headed, and how the central bank is weighing it all. In this episode, we bring you some of their conversation. Plus: Meta announces $100 billion deal with chipmaker AMD, and average tariffs on Chinese goods come down after SCOTUS ruling.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Let's talk about the new Trump tariff

Mon, 23 Feb 2026 23:23:00 +0000

In response to the SCOTUS decision overturning most of President Trump’s tariffs, the White House announced a new, sweeping tariff of 15% worldwide over the weekend. In this episode, the limitations of this new policy, how businesses are feeling about it, and whether consumers might expect to see tariff refunds someday. Plus: Workers stick to the jobs they have, U.S. battery demand grows, and a new tax deduction could boost auto sales.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

How to dodge tariffs on Chinese goods

Fri, 20 Feb 2026 23:35:00 +0000

The Supreme Court struck down many of President Trump’s tariffs today. We’ll discuss how the decision might affect businesses and consumers. Also in this episode: Since Trump announced those tariffs, some importers have figured out ways to avoid them. One way is through “transhipping” — making a pit stop en route to the U.S. and claiming the goods originated there, rather than China. Plus, we’ll talk to a few business owners who are planning for potential tariff changes.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The price is never right anymore

Thu, 19 Feb 2026 23:20:00 +0000

Consumers have gotten worse at guessing how much goods cost, research shows. Call that literal sticker shock? Accelerated price growth might be to blame, but so is dynamic pricing and the proliferation of online sales. Also in this episode: Trump’s tariffs have failed so far to shrink the U.S. trade deficit, wholesale inventory stabilizes as trade war uncertainty settles, and we visit a place where White House energy and immigration policies collide.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Immigration and job growth are linked, Fed says

Wed, 18 Feb 2026 23:35:00 +0000

Areas that recently experienced the largest slowdowns in unauthorized immigration also saw the largest slowdowns in employment growth, according to data analysis by the San Francisco Fed. This disproves the accusation that immigrants take jobs from American citizens. In this episode, how tighter immigration restrictions could affect the U.S. labor market long-term. Plus: It’s too early to tell how AI affects workplace productivity, California gas prices reflect more than high taxes, and the upcoming PCE index will tell Fed economists where we're at with inflation.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Why would the Fed loosen mortgage regulations?

Tue, 17 Feb 2026 23:55:00 +0000

After the 2008 housing market crash, new rules required banks hold capital reserves proportional to the home loans they issued. In response, banks issued fewer mortgages and non-banks filled in the gap. Easing those rules — which the Fed is considering — could make it a bit easier for Americans to get a mortgage. Also in this episode: Vaccine research and development suffers under federal funding cuts, home builders give industry sentiment updates, and physical media sees a comeback.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

What if Trump does roll back steel and aluminum tariffs?

Mon, 16 Feb 2026 22:40:00 +0000

The White House may roll back steel and aluminum tariffs, according to the Financial Times. Sure, President Donald Trump has announced or enacted tariffs just to reverse course many times. But the difference is steel and aluminum are crucial materials in the production of, well, just about everything. In this episode: How might such a rollback affect your wallet? Plus, market conditions make for a stronger manufacturing sector in 2026, restaurants expand menu offerings that cater to GLP-1 users, and we explain how the Fed actually changes interest rates.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Inside the "biggest deregulatory action in U.S. history"

Fri, 13 Feb 2026 23:35:00 +0000

On Thursday, Feb. 12, the Environmental Protection Agency announced the revocation of the “endangerment finding,” a federal determination that planet-warming emissions harm human health. The Trump administration said the decision will save Americans $1.3 trillion in energy and transportation, but experts are pushing back on that claim. Plus: The rise of concierge medicine and a look into how AI modeling could play a role in your weather forecast.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

More K-shaped spending

Thu, 12 Feb 2026 23:35:00 +0000

When high earners ramp up their spending while low earners pull back, that’s a symptom of a "k-shaped" economy. But what about middle-income households? New evidence shows the middle class is also struggling in comparison to the wealthiest Americans. It’s sort of like a K shape within a K shape. After that: Newer firms are more likely to offer work-from-home options, Washington National Opera has financial reasons for splitting from the Kennedy Center, and we check in with a few small businesses ahead of an upcoming inflation report.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Here's what we learned from the January jobs report

Wed, 11 Feb 2026 23:05:00 +0000

The January jobs report came out Wednesday, and on the surface, it was better than expected. The economy added more jobs than it has in months and the unemployment rate remained stable. But topline numbers don’t tell the whole story. After that: Trump’s immigration policies weigh on the labor market, Iran tensions cause choppy oil prices, and a new law brings whole milk back to school lunch programs.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Holiday spending slowdown

Tue, 10 Feb 2026 23:30:00 +0000

New data show retail sales were flat in December, despite high expectations for the holiday season. So did shoppers spend less? Or did they just frontload that gift spending in November? Also in this episode: AI tools propel widespread online shopping scams, a Colorado utility company shuts off power to prevent wildfires, and what’s next for crypto after last week’s freefall.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Less-than-great expectations for upcoming jobs data

Mon, 09 Feb 2026 23:15:00 +0000

The January jobs report and consumer price index come out this week, and experts expect both employment and inflation to hold relatively steady. But that jobs report will also include revisions to 2025 data. Will that show a net loss of jobs over the last year? Also in this episode: Foreign investment in U.S. Treasurys stays strong, Hollywood prepares to renegotiate key labor agreement with SAG-AFTRA, and Michigan wants to sue Big Oil for antitrust violations.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Consumer mood sours

Fri, 06 Feb 2026 23:21:00 +0000

On the whole, consumers are feeling 20% worse about the economy than they were a year ago, according to the University of Michigan Surveys of Consumers. High prices were cited as one concern, but that’s been a pain point for years. So what’s new? Also in this episode: Uncertainty in the tech sector drums up investor interest in consumer staples, the federal government yanked over 3,000 data sets from public sites under President Trump, and a dancer-educator discusses the business of ballet.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

There are more unemployed people than job openings right now

Thu, 05 Feb 2026 23:05:00 +0000

The latest JOLTS report is bleaker than expected. There were 6.5 million job openings across the U.S. economy in December, down nearly 400,000 from the previous month. This misaligned labor market is especially prominent in the services sector. In this episode, what's next for employment and which groups in particular are struggling to find work. Plus: The U.S. lags behind China in electrical capacity expansion, bankers show reluctance to lend to AI-impacted industries, and a photographer installs free-to-use phones across his city.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Cargo theft ramps up

Wed, 04 Feb 2026 23:15:00 +0000

“Retail theft” often conjures Hollywood-esque heist scenes or sleight of hand at self-checkout. But 2025 was likely the biggest year on record for another, less glamorous kind of shrinkage: cargo theft. In this episode, how goods stolen right out of a truck raise costs for producers, logistics firms, and yes, consumers. Plus: More data centers plan to build their own natural gas plants, private sector data shows labor market growth is slow but steadying, and Kai visits an award-winning chef in South Los Angeles.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Heavy on celebrity, light on social commentary

Tue, 03 Feb 2026 23:25:00 +0000

It's a big week for major televised events: The Winter Olympics kick off Wednesday and Super Bowl Sunday is nigh. Brands used to save their biggest, splashiest ad for such a slot. But this year, firms are pulling out all the stops to avoid controversy, or so much as hinting at a current event. Plus: Disney shows CEO selection is tricky business, PepsiCo announces price cuts on key salty snacks, and retail construction booms in Texas.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Why higher productivity doesn't equal wage growth

Mon, 02 Feb 2026 23:30:00 +0000

Productivity — the rate at which companies make what they make, or do what they do — has been a reliably bright spot in this economy. But wage growth hasn’t kept up. In this episode, what’s hampering compensation growth while overall productivity rises at a clip? Plus: Is AI actually to blame for recent layoffs? Is rising global debt bad news? And, the partial government shutdown will delay crucial employment data.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

How small businesses navigated the ICE strike

Fri, 30 Jan 2026 23:30:00 +0000

Activists called for a nationwide shutdown of economic activity Friday, Jan. 30, following another killing by immigration officials. But in this unforgiving economy, small business owners who support the cause faced a difficult decision. Today, a few told us how they navigated the moment. Plus: Sluggish big oil earnings show why Venezuela investment isn't popular, Trump announces his pick for Fed Chair, and parents pay a price for snow days.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Energy bill burdens grow

Thu, 29 Jan 2026 23:30:00 +0000

Electricity prices have increased by approximately 40% since 2021, far outpacing inflation. Despite AI data centers making headlines as energy-suckers, that price growth comes from a multitude of factors — including upticks in demand and aging infrastructure. In this episode, you aren’t alone in energy bill price hikes. Plus: Caterpillar benefits from all that AI infrastructure investment, private equity eyes a new form of health care, and salary “lowballing” in a tough job market may be tempting.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Does the EU even want a strong euro?

Wed, 28 Jan 2026 23:30:00 +0000

We keep hearing how the U.S. dollar has been “weakening.” Put another way, the euro is getting stronger: It hit $1.20 earlier this week. But the language is a bit misleading — a stronger euro isn’t necesarily good news for people living in the European Union. In this episode, how currency fluctuation can mess with delicately balanced trade. Plus: Consumer confidence fell sharply among older Americans, the Federal Reserve held rates steady, and we checked in with a few businesses ahead of the Supreme Court decision on Trump’s tariffs.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Let's tour the growing AI economy

Tue, 27 Jan 2026 23:30:00 +0000

Artificial intelligence companies raised enormous amounts of money in 2025, and made major investments in development and infrastructure. What’s next? To understand more about the role AI could play in our futures, “Marketplace” host Kai Ryssdal and “Marketplace Tech” host Meghan McCarty Carino visited an AI company and an AI data center in Silicon Valley. In this episode, the next phase of AI innovation won’t come without obstacles.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

As AI expands, Americans have doubts

Mon, 26 Jan 2026 23:35:00 +0000

Artificial intelligence is one of a handful of industries propelling this economy forward. But as the sector explodes, not everyone is on board. Americans are much more concerned about the downsides of AI than excited about its potential utility, according to a new Pew Research survey. In this episode, everyday Americans grapple with — and in some cases, fight back against — the proliferation of AI technology. Plus: Durable goods orders were up in November, gold prices continue to break records, and “Marketplace” host Kai Ryssdal tours a data center in Los Angeles.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Your car company also wants to be your bank

Fri, 23 Jan 2026 23:35:00 +0000

The FDIC has approved proposals by GM and Ford to launch their own banking units. That means the automakers will be able to provide their own auto loans to customers. In this episode, a confluence of market conditions drove Ford and GM into banking. Plus: The Super Bowl of livestock shows highlights high cattle prices, changes to online search behavior affects digital ad revenue, and “Marketplace” host Amy Scott talks to Jordyn Holman at the New York Times and David Gura at Bloomberg about the week’s economic headlines.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Here's what kept GDP climbing last summer

Thu, 22 Jan 2026 23:35:00 +0000

Revised GDP data for this past summer shows the U.S. economy grew faster than we initially thought. A few key parts of the private services sector propelled that growth. In this episode, which parts of the economy are actually doing pretty well. Then: Gap leans in to “fashiontainment,” packaging costs weigh on food prices, and elderly care facilities stand to lose critical employees when TPS ends for Haitian immigrants.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The EU owns $8 trillion in Treasurys

Wed, 21 Jan 2026 23:35:00 +0000

The EU owns $8 trillion in Treasurys. Sure, Eurozone governments probably won’t use ‘em as leverage in the Trump-Greenland situation — and even if they wanted to, it’d be complicated — but what if they did? We’ll explain. Also in this episode: United posts strong quarterly profits after a turbulent year, a primary care doctor tells Kai how Medicaid changes are affecting his work, and cover crops are a tough sell for cash-strapped farmers.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The global trade status quo is shifting. Will the U.S. be left out?

Tue, 20 Jan 2026 23:10:00 +0000

After decades of globalization, the U.S. may be paying a political price: International leaders are forging new trade agreements independent of American influence. In this episode, as some countries no longer see the U.S. as a reliable trade partner, will the global economy leave America behind? Plus: Sellers outnumber buyers in parts of the housing market, Georgetown’s Dorothy Brown discusses her new book about reparations, and we preview Fed governor Lisa Cook’s upcoming Supreme Court hearing.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

U.S.-EU relationship status: It's complicated

Mon, 19 Jan 2026 23:05:00 +0000

President Trump has announced new tariffs on European Union countries, aimed at forcing a deal for the U.S. to acquire Greenland. But the EU could respond relatively quickly, with sanctions of their own. In this episode, the EU’s “bazooka” option. Plus: Trump’s recent housing proposals won’t fix the fundemental issue driving housing affordability, technology has changed how parents dole out kids’ allowance, and we explain the history of economic jargon.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Skilled labor scarcity

Fri, 16 Jan 2026 23:15:00 +0000

An AI-driven construction boom is coming, some hope. But to build all that infrastructure, the U.S. is going to need a lot more construction workers, plumbers, HVAC technicians, and other skilled workers. And President Trump’s immigration policies actively work against that goal. Also in this episode: Trump withdraws the U.S. from a key global climate change agreement, Americans shell out for at-home coffee setups, and Kai discusses the week’s economic headlines with Greg Ip at the Wall Street Journal and Amara Omeokwe at Bloomberg.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Trump's latest plan to lower mortgage rates

Thu, 15 Jan 2026 23:35:00 +0000

President Trump recently ordered government-backed mortgage companies (that’s Fannie Mae and Freddie Mac) to buy up $200 billion in mortgage-backed securities. The last time they bought these bonds was the 2008 financial crisis. Will the move actually lower rates? Probably not much. Also in this episode: Venture capital can thank AI for a 2025 rebound, banks fight to block stablecoin interest yields, and more young people are getting prenups.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Finding work as a young person? In this economy?

Wed, 14 Jan 2026 23:25:00 +0000

The unemployment rate in December among people aged 20 to 24 was 8.2%. That’s up nearly a full percentage point from 2024, and much higher than the overall unemployment rate of 4.4%. The job market is tough, and getting tougher, but why is it particularly hard for Gen Z? Also in this episode: Trump’s focus on Venezuelan crude could redirect Canadian oil, companies use surveillance data for “personalized” pricing, and China’s trade surplus grew by 20% last year, in spite of U.S. tariffs.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

It's not just you — food prices rose 2.4% last year

Tue, 13 Jan 2026 23:35:00 +0000

The cost of food consumed at home was up 0.7% month-over-month in December, and 2.4% year-over-year. Go back five years, and grocery prices are up 25%. And like so many things in this economy, the rising cost hurts the poorest Americans most. Also in this episode: Americans carry credit card debt longer than they used to, two ultra-low-cost U.S. airlines make plans to merge, and we get an update from Kansas grain farmers.

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The Fed under attack

Mon, 12 Jan 2026 23:35:00 +0000

The Department of Justice has opened an investigation into the Federal Reserve and Chair Jerome Powell, a move Powell has since called "an unprecedented action [that] should be seen in the broader context of the [Trump] administration's threats and ongoing pressure" to lower interest rates. We take a closer look at what’s happening from inside the Fed, and look at the implications for the economy as a whole.

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The weak spot in this job market

Fri, 09 Jan 2026 23:35:00 +0000

The rate of jobless Americans who’ve been out of work for over 27 weeks — also known as “long-term unemployed” — hit 26% in December, according to the latest jobs report. That’s the highest it’s been since February 2022. In this episode, why the rate is rising and what it says about the broader economy. Plus: Businesses curb 2026 growth plans, a farmer discusses AI in agriculture, and we check in with an Asheville, North Carolina, tea company over a year since Hurricane Helene.

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Productivity climbs — without hiring to match

Thu, 08 Jan 2026 23:25:00 +0000

Labor economists will tell ya, productivity growth leads to more hiring. The idea is, once a company is operating more efficiently, they’ll try expanding, which usually comes with new jobs. But in this frustrating and bizarre economy, data show major productivity gains and a stagnant labor market … coexisting? Also in this episode: New York City expands a free child care program, one reporter tries to do the job(s) of the federal government, and economists expect a less-grim December jobs report.

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Labor market anxieties grow

Wed, 07 Jan 2026 23:35:00 +0000

The job market has been steadily losing steam and workers have noticed. Though the unemployment rate remains fairly low, some groups are experiencing heightened job-finding trouble, and overall employment sentiment is falling. In this episode, are job market worriers paranoid or prophetic? Plus: Nvidia CEO announces new AI chips won’t require as-expensive cooling systems, car sales were up in 2025, and economists study why new tariffs haven't dinged the economy much — yet.

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Corporations expected to take on record debt in 2026

Tue, 06 Jan 2026 23:20:00 +0000

This year, amid ongoing economic uncertainty, corporations are expected to refinance old debt, invest in artificial intelligence, and prep for mergers and acquisitions. All of which require extra cash. And how do corporations stretch their budgets? By taking on more debt, of course. Later in this episode: An Altadena small business owner struggles to rebuild after the LA fires, Texas pitmasters weigh rising brisket prices, and Costco converts wine snobs.

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Markets shrug off U.S. capture of Maduro

Mon, 05 Jan 2026 23:15:00 +0000

Disruptive geopolitical events often push investors to jump into bonds or sell off stocks temporarily. But when the U.S. military captured Venezuelan leader Nicolás Maduro and President Trump declared control over the oil-rich nation, neither of those happened. In this episode, markets are largely unmoved by Trump’s military intervention. Plus: Experts say jobs data is most important for predicting where the economy is headed, and Landon Derentz at the Atlantic Council Global Energy Center gives context to Venezuela’s oil infrastructure.

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States tighten SNAP rules in 2026

Fri, 02 Jan 2026 23:35:00 +0000

By the end of the year, at least 18 states will restrict the use of SNAP benefits to purchase “non-nutritious” food and drinks. But the definition of non-nutritious is up to each state. In this episode, the knock-on effects of benefit restrictions, for shoppers and retailers. Plus: Gigantic driverless trucks are poised to transform Minnesota iron mining and a deportation deal between the U.S. and Ghana could deter future emigration from the region.

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The year in charitable giving

Thu, 01 Jan 2026 21:15:00 +0000

The winter holiday season is a key time for nonprofit fundraising — an estimated 30% of annual giving happens in December. But in 2025, highly publicized federal cuts resulted in an individual giving boost throughout the year. In this episode, some nonprofits worry demand will soon outgrow those private donations. Plus: Latino immigrants say deportation fears are reminiscent of the Covid-19 lockdown, communities fight to buy back private utilities, and “This Is Uncomfortable” host Reema Khrais gives tips for sticking to financial New Year’s resolutions.

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What's next for the job market in 2026

Wed, 31 Dec 2025 23:35:00 +0000

Total jobless claims fell last week, which is the second-lowest reading in the last two years. Experts, though, say it’s likely a seasonal blip — especially since the labor market has been slowing all year. In this episode, what might be ahead in 2026. Plus: Los Angeles expands rent control, influencers change the consumer economy with “shopaganda,” and tribute bands get a moment in the spotlight.

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Good news for prospective homebuyers

Tue, 30 Dec 2025 23:25:00 +0000

Home price growth is cooling, new reports show. Though homeowners may be struggling to sell at asking price, it is good news for prospective buyers. Especially those who’ve been waiting on the sidelines for a good deal. But, as with most housing issues, the slowdown is regional. Also in this episode: Auto sales were strong in 2025, Gen Zers see cash in a new light, and an unlikely government funds a U.S.-based GED program for Mexican immigrants.

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A glimmer of hope for the housing market

Mon, 29 Dec 2025 23:35:00 +0000

The housing market is showing modest improvement, with pending home sales rising over 3% in November and prices growing just 1.2% year over year. Rising inventory and falling mortgage rates mean affordability is improving, though rates likely need to dip below 6% for demand to really pick up. Also in this episode: The 2026 outlook for oil prices and production, a look at which states are getting a minimum wage increase, and what's going on with AI travel influencers.

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'Tis the season of holiday bonuses ... for some

Fri, 26 Dec 2025 23:35:00 +0000

The number of workers recieving end-of-year bonuses is falling. Some of that has to do with shifting workplace norms and some is related to this tight labor market in which employees stay in jobs without extra perks. In this episode, the state of the holiday bonus. Plus: The history of Play-Doh, the year in anime, and a recap of the week’s economic headlines.

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The weather outside is frightful (so's the heating bill)

Thu, 25 Dec 2025 21:15:00 +0000

The average cost of heating is expected to jump more than 9% this winter, according to projections from the National Energy Assistance Directors Association. In this episode, why energy bills are up — for home heating and home cooling. Plus: Productivity measurements don’t match up to our service-based economy, Americans invest in U.K. soccer teams, and a growing sector provides training and staffing to AI startups.

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The job market won't start fresh in 2026

Wed, 24 Dec 2025 23:35:00 +0000

The labor market has been tightening all year, and Americans have grown increasingly anxious about their ability to find new jobs. A bit of good news? New unemployment claims fell last week. But that isn’t likely to signal a full job market turnaround in the new year. Plus: AI investment hasn’t slowed under Trump’s tariffs, a TikTok creator shares “recession recipes,” and we learn about the history of Legos.

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U.S. GDP sees healthy growth

Tue, 23 Dec 2025 23:20:00 +0000

From July through September, U.S. gross domestic product rose 4.3%, the highest in two years. At a time when many consumers are feeling economic pressure, higher earners and certain businesses are doing very well — and spending to match it. In this episode, can the impressive rate of growth continue? Plus: Affordable Care Act marketplace insurance alternatives fall short, winter surfing boosts Great Lakes tourism revenue, and holiday spending is up, according to credit card companies.

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U.S. dollar down, gold hits all-time high

Mon, 22 Dec 2025 23:30:00 +0000

Gold surpassed $4,400-per-ounce for the first time Monday. Prices are up 60% in 2025. In the same year, the value of the U.S. dollar slipped 9%. What gives? In both cases, economic and geopolitical uncertainty play a role. Also in this episode: Ranchers can't simply produce more beef to tamp down rising prices, corporations are on the hunt for “storytellers,” and successful product recalls involve many moving parts.

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The 2025 consumer sentiment rollercoaster

Fri, 19 Dec 2025 23:25:00 +0000

Consumer sentiment really ran the gamut this year. But right now, Americans are feeling almost as bad about the economy as they were when inflation was at its peak summer of 2022. In this episode, we chronicle 2025’s consumer vibes rollercoaster. Plus: Kansas City’s housing market preps for the 2026 World Cup, a college professor offers an AI-driven macroeconomic theory course, and we go over the week’s headlines.

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That CPI report got a Black Friday discount

Thu, 18 Dec 2025 23:15:00 +0000

November inflation data came in lower than expected, according to the latest CPI report. But we can’t compare it to the previous month, since the BLS skipped several October reports. And data collection began late thanks to the shutdown, right in the middle of retailers’ Black Friday sales. In this episode, key caveats to the November CPI. Plus: Experts cautiously predict a more balanced housing market in 2026, tech stocks take a hit as data center debt climbs, and a growing number of politicians reject economists’ expertise.

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Oil flow or oil freeze?

Wed, 17 Dec 2025 23:35:00 +0000

A U.S. blockade of Venezuelan oil tankers may sound disruptive, but global oil is plentiful, and Gulf Coast refiners remain tied to Venezuela’s heavy crude after decades of investment. If sanctions are lifted and Venezuelan oil flows again, it could benefit refiners and drivers alike. Also in this episode: why bank deposits are growing, how the Gap staged a successful turnaround, and where trade workers are experimenting with AI.

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Unemployment hits four-year high

Tue, 16 Dec 2025 23:35:00 +0000

The U.S. unemployment rate climbed to 4.6% in November, according to the latest BLS jobs report. There’s also data showing more Americans are reentering the workforce and more part-time workers are looking for full-time roles. In this episode, we explain what it all means for the broader economy. Plus: Advertising revenue is projected to top $1 trillion in 2025, hiring in the once-strong health care sector may slow soon, and artificial intelligence drives some young people into trade school.

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Time to strike out on your own?

Mon, 15 Dec 2025 23:15:00 +0000

IRS filings for new business applications have been climbing the past few months — particularly in the retail sector. The last time we saw a spike like this was in 2020. Are Americans ditching the corporate life, seeking stability, or in need of a second income? Likely a mix of all three. Also in this episode: Insurance coverage decisions go beyond medication sticker prices, home builder confidence ticks up, and the penny phase-out adds up for businesses doing a lot of cash transactions.

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The stock market isn't the economy — but it's not nothing either

Fri, 12 Dec 2025 23:35:00 +0000

While markets are mellowing a bit, three major stock indexes closed at record highs on Thursday. Reminder: The stock market is not the economy! But it still can tell us how investors — and by association, high-income Americans — are feeling about the future. In this episode, who wins when the stock market performs well. Plus: Old MacDonald has a ... drone? And we check-in with three retailers around the U.S. about the holiday shopping season.

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Why the Fed is thinking about immigration

Thu, 11 Dec 2025 23:25:00 +0000

Federal Reserve Chair Jay Powell’s latest presser was all about the job market. Buried among the usual talking points, like hiring sentiment and the unemployment rate, was immigration. That’s because the current administration’s immigration policies are complicating Fed measures of labor market health. In this episode, falling immigration turns jobs data on its head. Plus: Robust economic growth comes without typical job creation, U.S.-China trade tensions cool, and one company teaches AI to sort your trash.

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Fed rate cut diverges from global central bank strategy

Wed, 10 Dec 2025 23:15:00 +0000

The Federal Reserve cut its key interest rate Wednesday by a quarter point. That’s pretty much what analysts expected. But in other parts of the world, central banks have been signaling that they plan to hold rates steady or even hike them. In this global economy, why is the U.S. out of step? Also in this episode, we hear the pros and cons of quarterly earnings reports, check in on a union-run pipefitting apprenticeship and dig into why wage growth has slowed.

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The great decoupling

Tue, 09 Dec 2025 23:35:00 +0000

When revenue grows, hiring grows — usually. But in November, retail sector job cuts were up nearly 140% year over year, according to outplacement firm Challenger, Gray & Christmas, in spite of strong consumer spending. What gives? Mostly, more automation. Also in this episode: Medium-term bonds send hints about Fed interest rate decisions, an AI bubble burst will come with new jargon, and small business owner optimism is up.

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What's in the long-awaited farmer relief package

Mon, 08 Dec 2025 23:35:00 +0000

We now know some details about the Trump administration’s promised agricultural relief package. Central to the plan is billions in one-time payments to U.S. farmers, who have been hurting under new trade policies and rising equipment costs. Is it enough? Also in this episode: What FOMC members are likely contemplating ahead of this week’s meeting, who will be most hurt by rising ACA health insurance premiums, and why home builders overestimated new construction demand in 2025.

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Small businesses walk an affordability tightrope

Fri, 05 Dec 2025 23:35:00 +0000

Small business owners know affordability is top-of-mind for their customers. But as margins grow narrower, keeping prices as-is isn’t always possible. In this episode, we hear from a few small business owners about how they’re balancing cash-strapped shoppers and rising costs. Plus: The potential Netflix-Warner Bros deal could mean less variety for viewers, Midwestern farmers hope to carve out a market for local oats, and a discussion of the week’s economic headlines.

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What's next for the Fed?

Thu, 04 Dec 2025 23:35:00 +0000

Changes are afoot at the Federal Reserve: President Donald Trump will name a new Fed chair in the coming year, and the central bank’s job could get complicated as the economy absorbs the full impact of new tariffs. In this episode, why Fed independence is crucial and where the federal funds rate is headed in 2026. Plus: Families weigh the cost of child care, the BLS remains behind on data releases, and state farm bureaus offer cheaper health insurance to farmers — with a catch.

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Small businesses pull back on hiring

Wed, 03 Dec 2025 23:35:00 +0000

Small business owners’ economic moods remain mixed. But, as is so often the case, how folks feel is different from how they act. And hard data tells us small business owners are pulling back on hiring — one ADP report shows businesses with fewer than 50 employees cut a net 120,000 jobs in November. Should we be worried? Plus: Retailers benefit from buy now, pay later offerings, import prices sans fuel rose in September, and cap-and-trade carbon emissions programs have changed since their inception.

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A Fed divided against itself

Tue, 02 Dec 2025 23:20:00 +0000

The Federal Reserve’s quantitative approach to monetary policy decisions means its governors tend to reach consensus. But in the past few meetings, some FOMC members have disagreed on whether to prioritize jobs or inflation. In this episode, “Marketplace” host Kai Ryssdal and former FOMC member Daniel Tarullo discuss why the Fed is divided right now. Plus: Dollar stores weather an uncertain economy, companies use return-to-office policies as a workforce reduction mechanism, and electricity demand grows as data centers pop up nationwide.

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Too much oil, too little demand

Mon, 01 Dec 2025 23:15:00 +0000

The Organization of Petroleum Exporting Countries will hold oil production steady next quarter as global supply remains unusually high, driven by record output from the U.S., Brazil, Canada, and Norway. At the same time, demand is low due to a tipsy global economy and rising EV adoption. Also in this episode: What a no-immigration economy may look like, why Zillow removed climate risk information from home listings, and how food companies introduce healthy versions of staple offerings.

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'Tis the season for credit card debt

Fri, 28 Nov 2025 23:30:00 +0000

Holiday spending tends to drive up U.S. consumers’ credit card debt. In the past, most households were able to pay down that debt come the new year. But as wallets get squeezed, that may not be the case in 2026. Plus: Monopoly celebrates his 90th anniversary, a family moves from a farm to the city, and we visit a lab growing the chocolate of the future.

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Holiday hiring doldrums

Thu, 27 Nov 2025 21:35:00 +0000

Retailers don’t seem to be looking for many temp workers this holiday season. But it’s not the only sector that hires winter workers — event venues, transportation and warehousing still have some demand. Also in this Thanksgiving episode: There’s a growing market to manage kids’ screen time, a musician combats AI scraping, and a family explores stock market investing.

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Predicting the Fed's every move

Wed, 26 Nov 2025 23:05:00 +0000

Yields on government bonds can tell us how investors think the Federal Reserve will act. In this episode, we break down what falling yields on short-, medium- and long-term Treasuries tell us about where we’re headed. We also explain why people and firms across the economy bet on the Fed’s decision making. Plus: Jobs data paints a blurry picture of the labor market, PG movies dominate box office sales, and AI toys make their way to kids’ Christmas lists.

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Much ado about affordability

Tue, 25 Nov 2025 23:05:00 +0000

“Affordability” — it’s a hot-button issue across the political spectrum. But how does one define or quantify a subjective idea? We called up a linguist and a few economists to hear their thoughts. Plus: Flat wholesale inflation is a warning sign for higher overall inflation, September retail sales merely inched up, and the U.S. dollar is showing signs of recovery after a troubling first half of the year.

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Are more Americans working multiple jobs?

Mon, 24 Nov 2025 23:25:00 +0000

The delayed-by-the-shutdown September jobs report showed a stronger-than-expected monthly gain of 119,000 jobs, seasonally adjusted. But dig into the data, and signs point to many of those jobs being second or third jobs. In this episode, more people are working multiple gigs to get by. Plus: China’s got a different AI investment approach than the U.S., the housing market got a boost in October, and your online return probably ended up on the secondary market.

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Feeding the Family (bonus episode)

Sat, 22 Nov 2025 15:00:00 +0000

For many people gathering around the table this holiday season, things feel a little different. Maybe it’s the cost of ingredients that’s on your mind, or cuts to USDA funding that have left your food bank running low. Or maybe it’s the simple reality of a packed schedule — there’s a lot to cook, and so little time.

In this special from Marketplace, we bring listeners a collection of stories on the business and economics of food. Our reporters take us across the country to farms, home kitchens, and restaurants. We visit a refugee farmer in Houston, a chocolate-making lab in California, and stop for a bite at an award-winning restaurant in Portland.

Off-price retailers shine as consumer moods sour

Fri, 21 Nov 2025 23:35:00 +0000

TJX, the parent company of off-price retailers T.J. Maxx, Marshalls, and HomeGoods, posted excellent earnings this week, while Target cut its sales forecast. “Off-price” means TJX sells excess inventory at a discount, which may be more attractive to increasingly stressed shoppers hunting for deals. Also in this episode: Political affiliation colors consumer sentiment, USDA cuts end a major revenue stream for small-scale farmers, and supply chains are unusually slow this holiday season.

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The long-awaited September jobs report arrives

Thu, 20 Nov 2025 23:19:00 +0000

The September jobs report finally arrived after a six-week delay, showing employers added 119,000 jobs — well above expectations. The BLS also recorded an unusually strong 80% employer response rate, the highest since 2019. Improved accuracy came as a consequence of the deferred report. Also in this episode: Food service gained 36,000 jobs, America’s brand image hit a new low, and a scholarship celebrated 20 years of supporting Latina students.

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Too little, too late?

Wed, 19 Nov 2025 23:50:00 +0000

China's purchase of 1 million tons of U.S. soybeans ends a trade war freeze. And while it's better than nothing, it's still far below typical November numbers. With no confirmation of more big shipments, and cheaper suppliers like Brazil and Argentina ready to fill in, how are U.S. farmers reacting? Plus: What to expect in September's jobs report, how the rise of gambling might change political media, and why tech giants are issuing debt to fuel expansion.

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Rural hospitals were already short-staffed. Then came Trump's H-1B visa fee

Tue, 18 Nov 2025 23:25:00 +0000

The White House’s $100,000 fee on new H-1B visa applications is adding extra pressure to health care systems in rural and low-income areas. Historically, the visa has been a critical pipeline for skilled health workers in hard-to-staff settings. Affected hospitals are already feeling the added strain. Also in this episode: A bitcoin downturn won’t just hurt crypto bros, Panera announces an overhaul amid floundering fast-casual sales, and the EV market soldiers on, despite sunsetted tax subsidies and emissions regulations.

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Why we've got an eye on this week's corporate earnings

Mon, 17 Nov 2025 23:30:00 +0000

A few big box retailers report earnings soon, including Target, Walmart and Lowe’s. That could give some clarity on the state of the American consumer as we head into the holiday shopping season. Though of course Nvidia, the top-performing tech firm on Wall Street, will be the most exciting earnings call of the week. We’ll explain what all the hype’s about. Also in this episode: the NAR predicts homes sales will jump 14% next year and a former coal mining town pivots to nuclear.

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Trump's tariff turnaround

Fri, 14 Nov 2025 23:15:00 +0000

The latest in President Donald Trump’s trade war waffling? Tariff exemptions aimed at lowering Americans’ grocery bills. Affected products could include supermarket staples, like coffee and bananas from Ecuador, Argentina, El Salvador and Guatemala. In this episode, how long it could take for shoppers and businesses to see lower prices. Plus: Work permit rollbacks fuel a janitorial workforce crunch in Texas, moviegoers shell out for IMAX screenings, and we check in with a Pennsylvania customs broker.

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What happens when the data takes a month off?

Thu, 13 Nov 2025 23:25:00 +0000

With the government shutdown officially over, the Bureau of Labor Statistics is back at work after a 43-day hiatus. But all that missed data can’t be recreated — and catching up while understaffed will be difficult. In this episode: What reports will BLS prioritize and what’ll be left behind? Plus: Solar projects rush to finish before a tax credit deadline, Disney stops reporting its streaming subscriber numbers, and businesses strategize for a world without pennies.

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Are we spending more because we can, or because we have to?

Wed, 12 Nov 2025 23:35:00 +0000

Consumers may have revved up their spending in October, but spending more doesn’t mean getting more — prices are also up this holiday season. In this episode, why most shoppers feel like they're doing less with more. Plus: Auto loan delinquencies rise, mortgage applications heat up during an often-chilly season, and Kai explains the price-earnings ratio of the S&P 500, which is at a decades-high.

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More labor market blues

Tue, 11 Nov 2025 23:30:00 +0000

Business owners aren’t too optimistic about the labor market, according to an NFIB survey. About a third are struggling to fill an open position, and around a quarter said labor quality was their most pressing issue. In this episode, we scrape together a picture of today’s labor market, sans government data. Plus: Cities issue bonds at a record pace, we explain the consequences of Trump’s proposal to back 50-year mortgages and one report shows real wage growth has slowed to 2%.

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Where we're at with tariffs and inflation

Mon, 10 Nov 2025 23:25:00 +0000

Despite expectations surrounding President Donald Trump’s tariffs, inflation doesn’t seem to be speeding up — though it’s hard to say for sure without all that reliable federal data. You can thank cooling services inflation (where most consumer spending goes) and a softer labor market, which has reduced some companies’ ability to raise prices. Also in this episode: Corporate earnings look bright and sunny, Visa and Mastercard reach an agreement with merchants over credit card fees, and retailers revive physical holiday catalogs.

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Consumer sentiment hits three-year low

Fri, 07 Nov 2025 23:25:00 +0000

Consumer sentiment — as in, how everyday people feel about the economy — fell to a low not seen since 2022, according to the University of Michigan’s Surveys of Consumers. The decline was consistent across demographics, except among the wealthiest Americans (as measured by volume of stock market holdings). In other words, economic mood just became another k-shaped indicator. Also in this episode: Colleges shutter satellite campuses to cut costs and small and midsize businesses shrink their headcounts.

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A 20-year record for job cuts

Thu, 06 Nov 2025 23:15:00 +0000

The firm Challenger, Gray & Christmas counted over 153,000 job cuts in this country last month — the most October layoffs since 2003. Are companies pivoting to save money in light of over hiring and AI, or we are we moving toward a more serious slowdown? Also in this episode: A training center in China narrows the gap between tech manufacturing labor supply and demand, the FAA orders flight cuts, and “green” data centers face expensive challenges.

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The job market keeps flashing warning signs

Wed, 05 Nov 2025 23:35:00 +0000

With no government jobs data available during the shutdown, analysts have turned to private reports for clues about the labor market. In the latest round, ADP said private companies added jobs in October, despite job openings hitting their lowest level since early 2021. Experts say the labor market is stalled but stable, though risks of a downturn are growing. Also in this episode: the K-shaped economy comes for the housing market, global food systems face challenges with limited land, and Southwest cuts accommodations for larger-bodied flyers.

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What to know as SCOTUS weighs Trump's tariffs

Tue, 04 Nov 2025 23:25:00 +0000

The U.S. Supreme Court will hear arguments on Wednesday for and against the legality of President Trump’s signature economic policy: tariffs. In this episode, a lawyer walks us through what’s at stake and how the major questions doctrine may come into play. We also consider whether it’s possible to repay the $90 billion accumulated in tariff revenue should SCOTUS rule against the president, and scrutinize potential ‘plan B’ tariff policies.

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How long until SNAP reaches kitchen tables?

Mon, 03 Nov 2025 23:05:00 +0000

The Trump administration has been court ordered to partially fund this month’s SNAP benefits, after refusing to step in during the shutdown. Emergency USDA funds will cover about half of the $8 billion spent each month on the food assistance program. But it’s unclear how long households could wait for the partial benefits to kick in. Also in this episode: The manufacturing sector appears to be “meh,” OPEC ups production despite global oil glut, and the U.S. races to catch up on rare earth elements.

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How the economy went "K-shaped"

Fri, 31 Oct 2025 22:35:00 +0000

The U.S. economy is increasingly “K-shaped.” That means the gap between the wealthiest companies and consumers, and ... everyone else, is growing. Big Tech companies rake it in while smaller firms struggle. Similarly, the economy is increasingly dependent on the wealthiest consumers as everyone else pinches pennies. Economists warn these imbalances make the economy more fragile. Also in this episode: Farmers experiment with agrivoltaics, a Chicago tour guide showcases the city’s architectural history, and we recap the week's economic headlines.

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The case of the missing GDP report

Thu, 30 Oct 2025 22:35:00 +0000

With the government shutdown delaying the Bureau of Economic Analysis' third quarter GDP estimate, economists turn to Fed models and private analysts. The verdict? The estimates vary but generally indicate that growth was positive, crediting business investment and consumer spending. Also in this episode: What private sector data says about the job market, why homebuyers are still waiting on the sidelines, and how banks are managing commercial real estate amid high office vacancy.

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Nvidia: Boom or bubble?

Wed, 29 Oct 2025 22:05:00 +0000

Nvidia's market valuation surged to $5 trillion Wednesday, breaking records. The chipmaker is on fire, and it’s using its glut of resources to invest in other tech firms that need those chips. But if companies are using Nvidia money to buy Nvidia chips … should investors fret about a bubble? Also in this episode: We unpack Trump’s trade agreements with Japan and South Korea, more families skip paid child care altogether, and the Fed cuts rates for the second time this year.

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AI is here. Where are the new, better jobs?

Tue, 28 Oct 2025 22:15:00 +0000

Amazon and Chegg both announced layoffs this week; Chegg says AI competition was a factor, and Amazon’s CEO alluded to AI-related job cuts earlier this year. History tells us when a new technology comes along and totally overhauls society (think, the steam engine), we end up with new, better jobs. So … why have we only heard about AI-related job elimination? Later in the episode: Wayfair bucks home goods trends, consumer confidence stays sorta glum, and schools struggle without pandemic-era universal free lunch funds.

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A sluggish spin cycle

Mon, 27 Oct 2025 22:15:00 +0000

The shutdown has delayed October's durable goods report. But fear not! Michigan-based appliance manufacturer Whirlpool reported earnings today, and they were pretty tepid. What does that tell us about Trump's tariffs, or the housing market? In this episode, corporate earnings act as a stand-in for missing federal data. Plus: There are winners and losers during a period of high beef prices, small business owners scrutinize their staffing strategies, and regional banks consolidate to compete with fintech.

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Not everyone’s stretching the dollar the same way

Fri, 24 Oct 2025 22:35:00 +0000

Consumers everywhere are trying to stretch their dollars to compensate for economic uncertainty and inflation. However, there’s a divide between higher and lower earners. In this episode, we look at how people across the economic spectrum are trying to get more bang for their buck. Plus, one recent college graduate’s decision to leave the U.S. for job prospects abroad, commodity shortages mean less chocolate in your Halloween candy, and a weekly wrap-up of the latest economic headlines.

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The national debt hit $38 trillion, and yes, you should care

Thu, 23 Oct 2025 22:15:00 +0000

The U.S. national debt hit a new record this week: $38 trillion. As we head toward the fifth week of a government shutdown over a congressional budget disagreement, we explain why the growing national debt matters and how it affects your wallet. Also in this episode: Where does surplus oil go as demand drops? How might a wearable AI device affect your relationships? And, why are credit card companies offering more perks?

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Why is Trump throwing money at the Argentine peso?

Wed, 22 Oct 2025 22:15:00 +0000

The U.S. just agreed to spend $20 billion on a currency exchange with Argentina. The hope? To put a lid on inflation before Javier Milei, an ally of President Trump, is up for re-election. How does that work? What’s in it for the U.S.? Later in this episode: AI firms juice the stock market, an economist explains Trump’s flavor of state capitalism, and sports betting sites push the boundary between state and federal regulation.

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What are corporate outlooks without federal data?

Tue, 21 Oct 2025 22:35:00 +0000

Tons of major companies are reporting quarterly earnings and outlooks this week. But with federal data collection on hold, firms don’t have all the usual context to evaluate what the future may bring. In this episode, how reliable are corporate earnings outlooks in an extended government shutdown? Plus: Labor productivity could warm up the chilly labor market, the Fed’s balance sheet is making some big changes, and the used car market is still experiencing COVID-19 knock-on effects.

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How's that BLS data coming along?

Mon, 20 Oct 2025 22:15:00 +0000

Our picture of the U.S. economy grows fuzzier each day the government shutdown continues. The Bureau of Labor Statistics, which publishes the most reliable economic data, has been a barebones operation since the shutdown began. In this episode, how this month’s data from the public and private sectors may be affected. Plus: Recruiters give mixed takes on the job market, oil services companies are up against low prices and a supply glut, and streaming platforms set their sights on video games and podcasts.

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Regional banks are doing alright, actually

Fri, 17 Oct 2025 22:15:00 +0000

Two midsize U.S. lenders claimed they were victims of loan fraud this week, sending bank stocks into a tailspin. But by close Friday, markets evened out — and for good reason: Regional banks, overall, are actually doing well. In this episode, we dispel the midsize bank sector doomsayers. Plus: Rising auto loan delinquencies could be a consumer debt canary in the coal mine, American culinary sensibilities have moved beyond “foodie” culture, and goats are the star employees in one family's landscaping business.

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CEO confidence sinks

Thu, 16 Oct 2025 22:20:00 +0000

CEO confidence fell in the latest quarter of 2025. Executives surveyed by The Conference Board voiced concerns over inflation, tariffs, and global trade uncertainty. In this episode, how the economic mood of corporate leaders could affect everyday Americans. Plus: Chipmaker TSMC reported a profit surge amid increased demand, a career tech program in Alabama trains the next generation of skilled workers, and the NFL remains a cultural and economic powerhouse despite ongoing challenges.

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Time for another supply chain slowdown

Wed, 15 Oct 2025 22:20:00 +0000

The U.S. retail and supply chain sectors are slowing down — September’s Logistics Managers’ Index hits its lowest point since March. Many retailers are stopping shipments after stocking up early to avoid tariffs. Ongoing trade uncertainty and rising costs have companies fretting about the long term. Also in this episode: Gen Z plans to spend less this holiday season, tariffs muddle international library lending, and Colorado colleges partner with the private sector to expand skilled jobs training.

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Big banks' boom time

Tue, 14 Oct 2025 22:00:00 +0000

Amid all the anxiety, uncertainty and flip-flopping in this economy, one sector is doing tremendously: Big banks. Recent earnings reports showed banks including Citibank and JPMorgan beat revenue expectations and grew at a clip over the past few months. In this episode, why banks are thriving as regulations loosen and the economy gets unpredictable. Plus: A growing share of small businesses are raising prices in response to tariffs, Microsoft stopped updating Windows 10, and battery makers weigh pivot from EVs to grid storage.

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Trump's tariffs take a toll

Mon, 13 Oct 2025 22:00:00 +0000

In another wave of tariff news, Trump announced a 100% tariff on Chinese goods that will take effect in November. The constant back and forth of tariff policy has left import-reliant business owners frustrated, defeated and wondering how long they can hold out. Also in this episode: Slowing immigration explains a change in break-even employment, California explores public AI compute projects to create shared GPU infrastructure, and GDP may grow more than expected, despite economic uncertainty.

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The deal with "back door" betting

Fri, 10 Oct 2025 22:35:00 +0000

Wanna put a wager on, well, just about anything? Try a prediction market. Competing industry giants Kalshi and Polymarket both saw major investment this week, and for good reason. Though they don’t look it on paper, both function as (extremely lucrative) sports betting platforms but don't face the regulations of sports betting platforms. In this episode, we bet on where that legal loophole is headed. Plus: Expect car sales to sputter as the EV tax credit ends and tariffs drive up costs, and the case for replacing subsidized air travel with a more robust rural bus system.

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Greenback gains

Thu, 09 Oct 2025 22:35:00 +0000

The value of the U.S. dollar has been on the rise after months of decline. Political turmoil abroad has hurt other currencies, while easing rates and resilience at home have helped stabilize the dollar. However, investors are still cautious. Also in this episode: the Bureau of Labor Statistics’ “birth-death” model suggests the economy may be weakening, silver prices surpass a 45-year record, and Delta posts solid Q3 results by catering to the upper class.

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Our economic future is a black box

Wed, 08 Oct 2025 22:15:00 +0000

Know how the government shutdown put the kibosh on federal data distribution, like last week’s cancelled September jobs report? Well experts haven’t just had a tough week of interpreting this economy — they’ve had a tough year. In this episode, the Trump administration’s policies have uniquely muddied traditional economic forecasting. Plus: Adjustable-rate mortgages grow in popularity, the food and beverage industry adapts to GLP-1 proliferation, and an American furniture manufacturer discusses Trump’s tariffs.

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Filling the federal data void

Tue, 07 Oct 2025 22:05:00 +0000

The federal government shutdown drags on this week, leaving a labor data vacuum. Private firms are hoping to fill the gap with their own data sets — some are even offering ‘em for free. Unfortunately, that private data is narrower and less comprehensive than typical BLS reports. Also in this episode: The popularity of all-cash home sales, the unique risks and boons AI presents for Indian Country, and the vital role of equipment auctions for small contractors.

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Are AI financing loops efficient or alarming?

Mon, 06 Oct 2025 22:05:00 +0000

OpenAI announced it will invest big time in chipmaker AMD, potentially in exchange for a stake in the firm. As AI investment has ramped up, similar deals have become common. Do these partnerships signal a strengthening sector? Or are they a symptom of an AI bubble headed toward a burst? Also in this episode: Regional banks merge under Trump appointees’ relaxed regulatory rule, retailers are optimistic about the upcoming holiday shopping season, and Houston’s housing market experiences knock-on effects of deportation duress.

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The 'K' in 'K-shaped economy' stands for 'kitchen'

Fri, 03 Oct 2025 22:05:00 +0000

The gap between how high-income and low-income Americans are faring in this economy is growing. One example? Fast food restaurants are struggling while sit-down joints that cater to wealthier customers are A-OK. Also in this episode: “Every Screen on the Planet” author Emily Baker-White talks geopolitics behind the U.S.-China TikTok deal and a Wyoming solar panel company preps for the end of federal subsidies for residential installation.

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On track for a layoffs record

Thu, 02 Oct 2025 22:15:00 +0000

The U.S. is on track for the largest number of announced layoffs since 2020. Yay us! (Kidding.) We can thank a combination of federal cuts and their ripple effects, an uncertain trade environment, and AI experimentation. After that, Jenny Han of “The Summer I Turned Pretty” tells Kai about her career journey from nanny and school librarian to novelist and Amazon Prime showrunner. Plus: recession indicators, a federally-backed lithium mine and industrial outdoor storage.

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The data dogs are howling

Wed, 01 Oct 2025 22:35:00 +0000

The government shutdown means crucial jobs data will likely be postponed, right as the Fed weighs its next move. Chicago Fed President Austan Goolsbee, a self-described “data dog,” tells us how central bank officials plan to pivot. He also discusses Fed independence, transitory inflation, and rate cut pacing. After that: fiscal calendars vary by sector, synthetic dye removal will ripple through the food chain, and ADP reports more sour employment data.

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The "stuck economy," tariffs and Wall Street

Tue, 30 Sep 2025 22:25:00 +0000

While the stock market appears unconcerned about potential red flags in this economy, the bond market's a bit more cautious. As Washington nears a shutdown and the labor market flags, Treasury yields are ticking down. But demand for those safer, long-term bonds hasn’t been uniform. Plus: Trump adds to existing tariffs on Canadian lumber, OpenAI wades into e-commerce waters, and Abha Bhattarai at the Washington Post talks about the “stuck economy.”

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The housing market is "locked in"

Mon, 29 Sep 2025 22:00:00 +0000

Pending home sales rose in August, boosted by a slight drop in mortgage rates. Overall, though, the market remains sluggish — owners don't want to give up their locked-in low rates and buyers are waiting to see if rates and other costs will cool. Also in this episode: Banks respond to the Fed rate cut, retailers prepare for holiday hiring, and tech companies hope nuclear is the answer to data center energy demand.

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Consumer spending outpaced income — again

Fri, 26 Sep 2025 21:55:00 +0000

In August, Americans spent more than they made for the third month in a row. Thanks to tariff-induced price bumps, consumers are dipping into savings and using credit cards to keep up with their typical spending. In this episode, how long can consumers stay resilient? Plus: LA businesses prepare for ongoing ICE raids, a ski group vies to manage U.S. surfing at the 2028 Olympics, and an artist’s work changes in the age of e-commerce.

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A quick GDP refresher

Thu, 25 Sep 2025 22:00:00 +0000

Turns out the economy grew faster than we initially thought in the second quarter of 2025. Between a slowing job market and uncertain trade policies, an upward revision to GDP came as a bit of a surprise. In this episode, a quick lesson on how GDP is calculated and why consumer spending drove the acceleration. Plus: Hiring-related text scams get more believable, the housing market stays stuck, and companies ramp up spending on durable goods.

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What's with the streaming price hikes?

Wed, 24 Sep 2025 22:00:00 +0000

Disney’s streaming platforms — Disney+, Hulu, and ESPN — will see price hikes come October 21. They aren’t alone. As the streaming wars escalate, companies have switched focus to profit over customer volume, while consumers whittle down their subscriptions. Also in this episode: A soybean farmer faces trade war realities, manufacturers pour cash into new equipment, and Warren Littlefield, producer of “Fargo," “The Handmaid’s Tale” and more discusses the TV business with Kai.

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Rate cut? So what?

Tue, 23 Sep 2025 22:00:00 +0000

Newly appointed Fed governor Stephen Miran has argued the federal funds rate should be a full two percentage points lower than its current level. A major cut like that could lower bond yields and reduce borrowing costs, spurring spending. But longer-term, inflation would likely balloon. After that: Auto dealers face new obstacles as EV tax credits end, a traveling nurse navigates frequent moves, and U.S. economic growth is “more resilient than expected," according to an OECD report.

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Who's got the pricing power?

Mon, 22 Sep 2025 22:15:00 +0000

Economic data reports tell us two things are true: Inflation seems here to stay, and consumers haven’t let up on spending. It’s the perfect storm for businesses to wield the power to raise prices without losing customers. What could tip the scale in the other direction? Also in this episode: GOP-led changes to the H-1B visa program could hurt U.S. businesses long-term, home sellers are cautious as supply dwindles, and the new farm bill faces familiar obstacles.

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Google raises the stakes of the AI race

Fri, 19 Sep 2025 22:35:00 +0000

Google announced it will integrate Gemini, its AI assistant, into the Chrome web browser. That will transform Chrome — the most used search engine — into an “agentic” browser. More on what that means for your data privacy and the race to advance AI tech, in this episode. Plus: Independent craft stores aim to fill the void left by Jo-Ann Fabrics, and how feeding the 82% of Alaskan communities that don’t have road access is a feat of public infrastructure.

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The job market's bizarre balancing act

Thu, 18 Sep 2025 22:35:00 +0000

The number of new hires in August was about equal to the number of Americans who lost or quit their jobs in the same month. That means they sorta just .... cancel each other out. In this episode, what’s causing this strange stagnation? Plus: Bank of America and Amazon are raising their minimum pay, the U.S.-China trade war has soy and sorghum farmers worried, and a Seattle mall caters to and celebrates plus-size shoppers.

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Hey, big spender!

Wed, 17 Sep 2025 22:35:00 +0000

The top 10% of earners in the U.S. accounted for nearly 50% of spending in the second quarter — the highest share since Moody's Analytics began collecting the data in 1989. That's important context, as consumer spending keeps climbing despite tariffs and a grim labor market. In this episode, what it all says about our economy. Plus: Homeowners rush to refinance as rates fall, hydropower escapes GOP cuts to clean energy, and Etsy sellers struggle as tariffs raise costs.

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The cost of GOP cuts to coal royalties

Tue, 16 Sep 2025 22:15:00 +0000

Wyoming made billions from coal mining over the last 50 years, funding the government, schools, roads, parks. But President Trump’s major spending bill, passed in July, gives mining companies a break on royalty fees — leaving state budgets lean. In this episode, easing coal fees comes at a price. Plus: Non-store retail spending saw double-digit year-over-year growth, small businesses suffer as they wait for tariff clarity, and stock investors basically ignore all the bad economic headlines.

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The slow death of remote-only jobs

Mon, 15 Sep 2025 22:10:00 +0000

It’s been five-and-a-half years since lots of workers retreated to home offices at the height of the pandemic. Now, about 35% of Americans work from home at least once a week. In this episode, why employers’ demands to "return to office" are growing. Plus: A sociologist expresses concern about AI’s long-term effects on the American labor market, import prices reflect an uptick in “undervaluation,” and President Trump wants reduce earnings report requirements for public firms.

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Small firms cross their fingers for a rate cut

Fri, 12 Sep 2025 22:20:00 +0000

The Russell 2000, a stock index of smaller companies or “small caps,” has fallen behind the S&P 500 over the past few years. A Fed rate cut, which may come as soon as next week, could change their luck. In this episode, why interest rates have an outsize effect on smaller companies. Plus: Homebuilding is harder under President Trump’s tariffs and immigration policies, brands lean into the power of scent, and we recap the week’s economic headlines.

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As the job market slows, inflation speeds up

Thu, 11 Sep 2025 22:35:00 +0000

The labor market has been cooling for a bit, and in some sectors is virtually frozen. That could push the Federal Reserve to cut interest rates. But the Fed’s other mandate, besides maximum employment, is price stability. And inflation is picking up. What to do, what to do…. Later in this episode: Why are utilities costs up? Are restaurants hiring when no one else is? And, should retirement accounts have access to private equity funds?

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Why have some prices stayed put?

Wed, 10 Sep 2025 22:20:00 +0000

Consumer prices have been overall slow to reflect the Trump administration’s new tariffs. So we called up some retailers to understand why they haven’t raised their prices, even though their costs are higher. It turns out, bumping up prices isn’t as easy as pushing a button — and can come with consequences. Also in this episode: Bond yields tell us where the economy’s headed, volatile categories can have an outsize impact on the PPI, and a new book investigates the “double tax” Black women face.

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The BLS has a $700 million budget. What's its ROI?

Tue, 09 Sep 2025 22:05:00 +0000

Budget cuts may be in the Bureau of Labor Statistics' future. But the data collected by the BLS is critical for federal decision making. In this episode, we calculate if the $700 million investment is worthwhile. Plus: Firms that spend the most on AI slash tons of jobs, economic uncertainty drives up the price of gold, and mortgage rates fall — which is good for buyers but a bad sign for the overall economy.

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The price of limiting trade with China

Mon, 08 Sep 2025 22:15:00 +0000

China's exports to the U.S. are down a third year over year. That’s a significant drop, reflective of President Trump’s punishing tariff agenda. Although China’s overall export growth has slowed, it still rose 4.5% in August — thanks, in part, to strategic redirection to new markets. In this episode, what the U.S. stands to lose by cutting off China as a trade partner. Plus: Luxury brands remain mostly insulated from economic uncertainty and fintech firm Robinhood prepares to join the S&P 500.

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Jobs report warning signs

Fri, 05 Sep 2025 22:15:00 +0000

Paltry job creation was the headline item in the latest jobs report. But dig a little deeper, and warning signs show up all over: long-term unemployment, Black unemployment and Hispanic unemployment all rose in August. In this episode, why those stats could be proverbial canaries in the coal mine of the broader labor market. Plus: Industrial warehouse demand is down and a shipworker shortage could thwart Trump’s goal of reviving the commercial shipping industry.

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What about the regional Feds? What do they do?

Thu, 04 Sep 2025 22:15:00 +0000

The Federal Reserve Board of Governors has gotten a lot of attention lately — President Trump is attempting to remove one member and has nominated another. But there’s more under the central bank umbrella than president-appointed officials. In this episode, we break down why regional Fed banks and Fed presidents matter. Plus: The latest Beige book shows an uptick in lending, shipping costs are down and an economist walks us through her process for reading a CPI report.

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Slo-mo jobs growth

Wed, 03 Sep 2025 22:15:00 +0000

Job growth has slowed this summer as employers ride out President Trump's economic shakeups. Thanks to uncertain tariffs, funding cuts, and the immigration crackdown, most companies aren’t eager to hire right now. Even the health care sector is showing some cracks. Also in this episode: The number of American homeowners fell for the first time in a decade, economists explain how the U.S. became the economic data gold standard, and revenue from website ads grow more popular among retailers.

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Short-term corporate borrowing climbs

Tue, 02 Sep 2025 22:30:00 +0000

“Commercial paper” is a type of short-term debt that’s paid off much faster than a typical corporate bond. It’s kinda like an afternoon snack — perhaps not great for you, but it’ll hold you over until dinner. In this episode, what it means that commercial paper bonds have been ramping up all year. Plus: Iconic millennial-focused brands pivot to Gen Z consumers, the BLS cares if you’ve got free time, and the Trump White House closely monitors U.S. chip manufacturing progress.

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No, private data can't replace the BLS

Mon, 01 Sep 2025 21:45:00 +0000

As the Trump administration strips away federal data collection agencies' funding and pressures statisticians to produce positive reports, we might wonder whether private data can fill in the gaps. Unfortunately, while statistics reported by the private sector have a place in our economic understanding, they're not necessarily comprehensive, transparent, or free. Also in this episode: EVs see record sales ahead of tax credit end date, Chinese AI firms meet at a conference in Shanghai, and regional Feds give tariff uncertainty updates.

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Sticky inflation, Fed drama and the rise of 'cute' debt

Fri, 29 Aug 2025 22:00:00 +0000

Core inflation rose to 2.9% in July, according to the latest PCE data — the Fed's preferred inflation gauge — marking its highest level in months. But despite stubborn inflation and falling consumer confidence, consumer spending continues to climb. Courtenay Brown at Axios and Jordyn Holman at The New York Times join "Marketplace" host Amy Scott to talk about the latest inflation numbers, and the court battle brewing between the White House and the Federal Reserve. Also in this episode: the economics of uncertainty, why job-hopping may no longer lead to bigger paychecks, and how "buy now, pay later" is being rebranded to target women.

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What's really going on in the Trump economy?

Thu, 28 Aug 2025 22:00:00 +0000

The U.S. economy grew faster than expected in the second quarter of the year, with GDP revised up to an annualized 3.3% from April through June. We take a closer look at what's driving those numbers, and check in on how corporate America is faring amid shifting trade policy. Also on the show: the AI data center boom, nuclear power's pop culture moment, and a retired Air Force officer's pivot to interior design.

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The relationship between consumer mood and spending? It's complicated

Wed, 27 Aug 2025 22:00:00 +0000

On Tuesday, the Conference Board reported a slight drop in consumer confidence, driven by worries about available jobs and future incomes. But a dip in confidence doesn't always mean people spend less. Also on the show: Where have all the working moms gone? "Marketplace" host Amy Scott talks with Abha Bhattarai from the Washington Post about how women are losing workforce participation gains made during the pandemic. Plus, what ending the 'de minimis' exemption could mean for overseas retailers and online shoppers.

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Can the president remove a Fed governor?

Tue, 26 Aug 2025 22:00:00 +0000

Late Monday, President Trump announced plans to remove Lisa Cook from the Federal Reserve Board of Governors over unproven allegations of mortgage fraud. The move is part of his months-long effort to reshape the central bank and pressure it to lower interest rates. But meddling with the Fed's independence could backfire. On today's show, we look at the implications of political interference at the Fed, from the bond market to the U.S. and global economies. Plus, how FEMA's elimination of hazard mitigation programs will affect the country.

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For every action, something can go sideways

Mon, 25 Aug 2025 21:55:00 +0000

President Trump's recent deal with Intel gives the U.S. government a 10% ownership stake in the company. But today, Intel responded with a regulatory filing, outlining all of the ways this deal could go sideways. We take a look at the unintended consequences of governments owning companies. Also on the show: why prices have been slow to rise in response to tariffs and what to expect from the fall retail season.

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Special Coverage from "Marketplace": The Real Costs

Mon, 25 Aug 2025 01:00:00 +0000

These are tumultuous times in the economy. There is inflation, a weakening job market, and uncertainty over tariffs and other federal policies. But the headlines don’t capture the real costs of everything happening right now. In a one-hour, special “Marketplace” broadcast, host Kai Ryssdal explores the way we measure this economy and what’s at stake if those statistics become suspect.

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Chili's is back (baby back, baby back)

Fri, 22 Aug 2025 21:55:00 +0000

Brinker International, which owns casual dining chain Chili’s, just beat 50-year sales and revenue records. In this fickle economic moment, how’d they do it? The answer involves viral fried mozzarella and the power of young consumers. Also in this episode: Jay Powell hints at rate cuts, AI data centers increase electricity costs for everyone, and automakers swear updated tech, not tariffs, drove up prices.

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WWJPD?

Thu, 21 Aug 2025 22:35:00 +0000

Rising unemployment claims will be on Fed Chair Jay Powell's mind when he addresses the Jackson Hole Economic Symposium on Friday, and as he contemplates an interest rate decision in September. But he’s also got stable prices amid tariff uncertainty to worry about. So, we wonder: What Will Jay Powell Do? Later in this episode: Visual AI tools trail behind language-based models, popular spicy snacks could be a symptom of rising food costs, and Indigenous artists tell us how tariffs factor into their business.

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Consumers embrace their inner Maxxinista

Wed, 20 Aug 2025 22:20:00 +0000

A consumer vibes indicator, in the form of two Q2 earnings reports: TJX (which owns TJ Maxx, HomeGoods, and Marshalls) raised its outlook for the remainder of the year after beating expectations. Over the same period, Target reported declining same-store sales. In this episode, today’s consumers are choosing off-price bargain hunting over a big-box staple. Plus: Retailers sneak in price hikes, SPACs make a return, and the labor market’s got some regional variation.

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Flat pay raises are a sign o' the times

Tue, 19 Aug 2025 22:35:00 +0000

In this uncertain economy, employers want to save where they can. That’s likely why Starbucks just joined a growing list of companies to shift from merit-based raises to a flat percentage raise. In this episode, why a flat raise structure tends to be cheaper and less time consuming than merit increases — even though everyone gets ‘em. Plus: China leans into trade with developing nations, President Trump wants to cut funding for flights to rural airports, and homebuilder sentiment stays low.

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As many shoppers scrimp and stress, the wealthiest splurge

Mon, 18 Aug 2025 22:05:00 +0000

New context for the strong-consumer-spending-and-falling-consumer-sentiment combo: According to a Boston Fed report, the proportion of spending done by top-earning U.S. households is growing, and the share spent by lower-income Americans is shrinking. What might that widening gap tells us about the trajectory of this economy? Plus: Strong Q2 corporate earnings are an economic bright spot, U.S. energy exports may not break records again this year, and we investigate who profits from the tripled ICE budget.

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Concerned consumers keep on spending

Fri, 15 Aug 2025 22:10:00 +0000

Recent data show moderate retail sales growth in July — a positive sign for our economy? On the flip side, consumer sentiment fell in an early-August survey. In this episode, why gloomy shoppers are still gonna shop. Plus: How NEA grant cuts are affecting nonprofit arts organizations, why a wealth tax might be unconstitutional, and when did Putin visit a New York City gas station?

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Producers feel the pinch

Thu, 14 Aug 2025 22:35:00 +0000

Earlier this week, the July CPI report showed consumer prices remained steady, despite tariff noise. Today’s producer price index tells a different story: Wholesale prices grew a whopping 3.3% year-over-year. When might retailers pass those higher costs on to consumers? We break it down. Plus: Automated applications sow pessimism among job hunters, New York City marks two months of a ban on tenant-paid broker fees, and U.S. oil refineries face regionally different outlooks.

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"Hacks" creators on collaboration, S5, and the state of comedy

Wed, 13 Aug 2025 22:35:00 +0000

HBO Max’s “Hacks” often tackles the push and pull between art and profit in the entertainment industry. It’s a topic the show’s creators are deeply familiar with. In this episode, “Marketplace” host Kai Ryssdal discusses that tension — as it appears in the show and in real life — with “Hacks” showrunners Paul W. Downs and Jen Statsky. Plus: Job-finding sites struggle as hiring slows, and response rates to government surveys fall.

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Across regions and sectors, inflation zigs and zags

Tue, 12 Aug 2025 22:20:00 +0000

Ever read past the top line of the consumer price index? That 2.7% inflation rate varies a lot by metro area. The same goes for goods categories. So why is inflation higher in San Diego than Dallas? And higher for baby clothes and than electronics? We explain. Also in this episode: Long-term unemployment rises as hiring slows, businesses grow weary of waiting for tariff clarity, and we talk to Cheryl McKissack Daniel, CEO of the country's largest Black-owned construction firm.

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Tariffs muddy the future of the global oil market

Mon, 11 Aug 2025 22:25:00 +0000

If President Donald Trump’s tariffs stymie the U.S. economy — which would, in turn, slow the global economy — oil demand will fall. And we're already operating at a surplus. In this episode, why the oil market tea leaves are difficult to read right now. Plus: Trump takes an “unprecedented” hands-on approach to Big Tech business dealings, and tariffs on semiconductors will make electronics more expensive. And, despite a six-year period of steep overall inflation, some prices have dropped. Can you guess which ones?

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In health care sector, dread over worker deportations

Fri, 08 Aug 2025 22:35:00 +0000

The U.S. health care sector will lose crucial long-term care providers if the Trump administration suceeds in slashing the Temporary Protected Status program. In this episode, we visit Massachusetts, where many Haitian immigrants at risk of deportation fill critical, low-paid care roles. Plus: Developing economies will suffer if U.S. consumption is stymied by tariffs, and we check in with an artist in Nebraska and retirees in New England.

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Hear that? It's productivity number noise

Thu, 07 Aug 2025 22:12:00 +0000

American worker productivity grew a modest 2.4% in the second quarter of the year. Good news, right? Well, take a look at the math, and the last few months of falling imports and slowing workforce growth translated to productivity that might only look strong on paper. Later in this episode: Trump floats a 100% tariff on foreign semiconductors, couples opt for charitable wedding registries, and a mom of six makes a tough career decision.

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Should we fret over rising household debt?

Wed, 06 Aug 2025 22:00:00 +0000

The latest household debt report from the New York Federal Reserve is in. Delinquencies are on the rise — specifically, student loan delinquencies spiked into the double-digits. Experts say the news isn’t too alarming, even as consumers lean more on borrowing to get by. Also in this episode: Audi might build a U.S. factory to save on tariffs, a drop in international students could cost the U.S. economy, and Tennessee bans community benefits agreements.

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The oil-natural gas conundrum

Tue, 05 Aug 2025 22:15:00 +0000

The U.S. oil and natural gas industry is at a crossroads. As oil demand appears poised to plateau, natural gas demand is in a period of tremendous growth. The rub? Most U.S. natural gas is extracted as a byproduct of oil drilling. Can there be one without the other? Also in this episode: The Trump administration considers slapping tracking devices on semiconductors, Yum! Brands reports a spending slowdown, and new data shows a nearly frozen services sector.

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Take it with a grain of salt

Mon, 04 Aug 2025 22:00:00 +0000

As President Donald Trump puts political pressure on the Bureau of Labor Statistics, experts worry BLS data will become less trustworthy. Economists following China say they know the feeling. In this episode, what we can learn from them. Plus, we peek behind the scenes of a municipal bond sale, speak with some economists who aren’t too surprised by the revised jobs numbers, and break down what it means that Trump can nominate a new Fed governor.

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Trump's jobs report retaliation "raises alarm bells"

Fri, 01 Aug 2025 22:19:00 +0000

The Bureau of Labor Statistic’s July jobs report came in far below expectations. May and June’s counts were also revised down significantly. What’s a president — one who’s championed contentious economic policies — to do? Fire the BLS chief, apparently. In this episode, what happens if President Donald Trump turns federal data collection into a partisan tool. Plus: Medium-sized companies are hit hardest by tariffs and digital price labels are coming to a grocery store near you.

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Anomaly or omen?

Thu, 31 Jul 2025 22:00:00 +0000

Employers announced around 62,000 job cuts in July, according to a report from Challenger, Gray & Christmas. That’s up nearly a third from June, and more than double the number of July 2024 layoffs. In this episode, we dissect whether this just a blip, or something to stress about. Plus: Federal data erosion comes with consequences, prices rise but stay behind wage growth, and private equity takes notice of the youth sports market.

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Let's take a hard look at that GDP growth

Wed, 30 Jul 2025 22:10:00 +0000

U.S. GDP grew at a healthy clip in the second quarter of 2025. But a mathematical equation can’t convey nuance — like, say, six months of tariff chaos. Clear away the trade drama, and the country’s economic growth was more subdued. Also in this episode: The Fed keeps rates as-is despite historic “no” votes from committee members, crypto firms campaign for stablecoin to be the new credit card, and the private sector added about 70,000 service sector jobs in July.

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Consumers are still stressed about the job market

Tue, 29 Jul 2025 22:15:00 +0000

Consumer confidence ticked up in June, according to The Conference Board. At the same time, confidence in the labor market weakened for a seventh consecutive month. In this episode, what good are a bunch of confident consumers if they're stressed about finding work? Plus: SNAP cuts will hurt grocery stores, Americans have to buy foreign goods if we want other countries to buy our goods, and tariff costs negate productivity growth benefits.

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How are lenders and borrowers feeling?

Mon, 28 Jul 2025 22:20:00 +0000

Since it’s unlikely the Fed will make any interest rate moves at this week’s meeting, it’s safe to assume rates will stay up for at least a while longer. That means potential borrowers are weighing whether to wait out the Fed or get access to capital now, despite the cost. In this episode, local bankers tell us about the current lending climate. Plus: The EU promises to increase U.S. energy spending, credit card issuers lean in to premium cards with high fees, and Congress makes major changes to vehicle fuel efficiency regulations.

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AI and 'surveillance' pricing

Fri, 25 Jul 2025 22:00:00 +0000

Dynamic or 'surveillance' pricing is a relatively common practice. But what's changed is the sheer volume of our personal data available online, and how good AI has become at connecting the dots. With news that Delta Airlines plans to use AI to set up dynamic pricing for a large share of its flights, Marketplace's Kimberly Adams explores how widespread this practice already is in other industries. But first: social media buzz sent an eclectic mix of stocks, or 'meme stocks,' on a volatile ride this week. We look at why traders are making such risky bets. Plus, a snapshot of how things are looking for mortgage brokers and farmers right now.

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The dangers of fiscal dominance

Thu, 24 Jul 2025 22:00:00 +0000

President Trump wants lower interest rates now, but what could that mean for the economy? "Marketplace" host Kai Ryssdal speaks with Neil Irwin at Axios about the implications of Trump's push to cut rates, and why central banks should stay focused on stabilizing the economy, not helping the government manage its debt. Also on the show: One of the pieces passed in the GOP's sweeping budget bill was a measure that would end taxes on tips and overtime. We look at who qualifies and who doesn't. And later, how companies are viewing the cost and importance of business travel.

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A new trade deal with Japan

Wed, 23 Jul 2025 22:00:00 +0000

Under the new agreement, American consumers will now face a 15% tax on Japanese imports — a major jump from the 1.5% rate set back in 2019. The White House says making imports more expensive will encourage more domestic production. But these tariffs could have the opposite effect when it comes to getting manufacturing back on American shores. Also on the show: AI infiltrates the perfume industry. But first, how a weak U.S. dollar is boosting earnings, and why companies are quiet about it.

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What's at stake if the Federal Reserve loses its independence?

Tue, 22 Jul 2025 22:00:00 +0000

"Marketplace" host Kai Ryssdal speaks with Greg Ip at the Wall Street Journal about growing threats to the Federal Reserve's independence — and why it matters not just for the U.S. economy, but for financial markets around the world. Plus, why investors are chasing riskier bets, how Subway plans to revive flagging sales and what one city is doing to help robotaxis navigate around emergency vehicles.

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Looking for economic clues in corporate America

Mon, 21 Jul 2025 22:45:00 +0000

We like to say it a lot here at Marketplace: the stock market is not the economy. But it can help tell us how the economy is doing — if people and businesses are spending or saving, investing or hunkering down. This week, some major companies will report their second quarter earnings, giving us insight into where this economy is headed. Also in this episode: how summer roadwork is hurting businesses in one Vermont town, and why health insurance premiums are going up next year.

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Will August bring a wave of trade deals or a hike in tariffs?

Fri, 18 Jul 2025 22:45:00 +0000

We’re starting to see the first real evidence of President Trump’s tariffs showing up in consumer prices. But are these manageable, one-time price increases or the early signs of runaway inflation? Ana Swanson at The New York Times and Sudeep Reddy at MSNBC weigh in. Also on the show: what the latest spending cuts say about the balance of power in Washington, and why the USDA is moving away from considering race and gender in its farm loan and benefit programs.

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How immigration can bolster an aging workforce

Thu, 17 Jul 2025 22:35:00 +0000

As a nation’s workforce grows older, innovation and delayed retirement can keep economic gears turning. But so can immigration. In this episode, “Marketplace” host Kai Ryssdal and ADP’s Nela Richardson visit Peckham, a neighborhood in South London that’s long been home to generations of immigrants from all over the world, to understand how newcomers can offset an aging workforce.

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Can robots help us care for an aging population?

Wed, 16 Jul 2025 21:50:00 +0000

The number of people 85 years and older is expected to double in the U.K. over the next couple of decades. Apian, a London-based health care logistics company that partners with the National Health Service, thinks automation can help. We visit Apian to understand how automated robots could ease the burden of caring for an aging population. Also in this episode: A pilot pushes for menopause policies at British Airways, and an entrepreneur launches a skincare business at 50.

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Want to understand our aging workforce? Look to the U.K.

Tue, 15 Jul 2025 22:30:00 +0000

By 2050, around a quarter of people in the U.K. will be 65 or older — about ten years before the U.S. reaches that milestone. For our ongoing “Age of Work” series, host Kai Ryssdal and ADP chief economist Nela Richardson take a trip to across the pond to understand how businesses and the government are preparing for an aging population. Plus, hear how one Brit is navigating the job market in his 60s, and check in on a London honey shop owner we last spoke with during Brexit.

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Who pays for tariffs?

Mon, 14 Jul 2025 22:10:00 +0000

Up and down the supply chain, companies are facing a dilemma: Should they absorb tariff surcharges and keep prices down, or pass on the cost to customers, and risk losing business? Most are taking a mixed approach. In this episode, how firms are negotiating — and communicating — higher costs. Plus: Economists discuss what they’ll be looking for in tomorrow’s CPI, housing discrimination persists in the fine print of home deeds, and economists attempt to model the U.S. economy’s debt forecast.

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The GOP slashed $1 trillion from Medicaid's budget. What now?

Fri, 11 Jul 2025 22:10:00 +0000

The Medicaid budget just lost about $1 trillion. Eleven million more Americans will go uninsured, the CBO estimates, and those who remain Medicaid-eligible may lose coverage for "optional" services. That could include in-home health care recipients, like 9-year-old Noah. In this episode, we talk with his mom, who lobbied Congress to vote against the bill. Plus: An environmentalist makes a case for solar power, and why the Fed will rely on data — not the whims of the stock market or President Trump — to make its next rate cut decision.

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Reliable earnings outlooks? In this economy?

Thu, 10 Jul 2025 22:05:00 +0000

When companies release earnings reports, they often predict where they’re headed next, profit-wise. Lately, thanks to all that pesky economic uncertainty, some firms have altered their forecasts or opted out altogether. In this episode, why some guidance is better than no guidance. Plus: OPEC foresees oil demand growth through 2050, protein is the latest food fad, and an environmental organizer takes us on a mini “toxic” tour of his community that’s adjacent to a petrochemical complex.

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Let's get a grip on the labor market

Wed, 09 Jul 2025 22:00:00 +0000

The June jobs report gave a sunny picture of the labor market. But if you’re, say, looking for a job right now, you may see things a bit differently. What gives? In this episode, we break down the pros and cons of backward-looking data, and search elsewhere for answers about the current employment situation. Plus: Entrepreneurship chugs along in this uncertain economy, rents finally seem to hold steady, and U.S. copper prices spike.

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RIP to the EV tax credit

Tue, 08 Jul 2025 22:10:00 +0000

A tax credit for electric vehicles was killed under the latest GOP tax and spending bill. It's a credit that has existed in some form for nearly 20 years. In this episode, how the tax break supported EV innovation and what might change when it ends in September. Plus: Big retailers eye vertical integration as a salve to supply chain and tariff drama, Canada’s first liquefied natural gas ship sails to Asia, and some employers choose brutal honesty in the recruiting process.

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The consequences of tariff uncertainty

Mon, 07 Jul 2025 22:10:00 +0000

Trump officials signaled tariffs will be once again postponed, possibly to August 1. But as the White House nails down details, some businesses are suffering while they wait. In this episode, retailers explain why ongoing trade negotiations have put a damper on profits. Plus: Consumers could pull back spending if tariff-related worries persist, employment data shows it’s getting harder to find a job, and we check in with Altadena small business owners recovering from the L.A. fires.

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What happens when states manage public land?

Fri, 04 Jul 2025 21:00:00 +0000

Some conservatives think states should take over management of federal land. But often, states lack adequate resources, or use land for revenue rather than recreation or conservation. This Independence Day, we visit state trust land in Wyoming to learn more about state versus federal management issue. Plus: Homeownership is a tough bargain if you travel for work and data shows the manufacturing sector has contracted since Trump took office.

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Fear of ICE raids keeps California farm workers on edge

Thu, 03 Jul 2025 22:25:00 +0000

On California farms, ICE raid fears persist — at least half of the state’s crop workers are undocumented. As a result, the farms that grow three-quarters of U.S. fruits and nuts are experiencing worker shortages as harvests begin. In this episode, Trump's immigration policy clashes with the realities of labor-intensive farm work. Plus, growth on the June jobs report may be overstated, lower tariffs are still tariffs, and we check in on the import sector.

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Reading the labor market tea leaves

Wed, 02 Jul 2025 22:10:00 +0000

Consumer spending sputtered in May, likely thanks to tariffs and related uncertainty. Not only does that give us a clue as to where GDP is headed, it could also help us predict the labor market's next move. Later in this episode: Slowed hiring could have a silver lining (depending on your perspective), the U.S. dollar is down 10% so far this year, and we visit a pop-up brewery focused on racial equity.

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Time for a national debt history lesson

Tue, 01 Jul 2025 22:20:00 +0000

The Senate just narrowly passed the latest version of the GOP tax and spending bill, and the House will vote on it tomorrow. Nonpartisan experts at the Congressional Budget Office say the bill will add more than $3 trillion to the national debt, which is already a whopping $36.2 trillion. In this episode, a few economic historians tell us how we got here. Plus: Construction spending falls again, Home Depot goes after large-scale pros and the stock market rallies.

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An American manufacturing road trip

Mon, 30 Jun 2025 22:15:00 +0000

Several regional Fed offices reported soft or stagnant manufacturing activity this spring. Tariffs, immigration policy and other uncertainties are driving pullbacks across the sector. In this episode, we take a cross-country trip to learn more. Plus: Farms struggle to staff up for harvest season as ICE raid fears persist, young college grads struggle to find work and Zillow changes its listing policy for homes that were already listed privately.

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All eyes on the inflation data

Fri, 27 Jun 2025 22:20:00 +0000

It's been a big week for economic data, with key reports on GDP, PCE, retail sales and consumer sentiment numbers. Bloomberg's Kate Davidson and the Wall Street Journal's Greg Ip join “Marketplace” host Kai Ryssdal to discuss the data, what's happening with inflation and how much tariffs are feeding into prices. Also on the show: Disposable income dipped in May. What does this slowdown in income growth mean for the broader economy? Plus, a conversation with Tim Cadogan, CEO of GoFundMe, about the future of charitable giving.

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Finding work is tough in a stalled labor market

Thu, 26 Jun 2025 22:35:00 +0000

Continuing unemployment claims just hit nearly two million — the highest number since November 2021. There’s not much hiring right now and workers with jobs aren’t going anywhere. In this static labor market, what’s an unemployed person to do? Also in this episode: Car sales slow after a pre-tariff boom, a new report shows Americans are socializing less, and a town in Oregon is still rebuilding five years after a major fire.

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Prepping for all possibilities

Wed, 25 Jun 2025 22:35:00 +0000

Just two weeks out from the Trump administration’s tariff pause deadline, no one is quite sure what to expect. In this episode, experts weigh in on what sort of deals the U.S. is likely to make and how businesses are preparing in the meantime. Plus: “Value seeking” consumers want the most bang for their buck, economic uncertainty puts the brakes on RV sales, and Indigenous jewelry makers struggle as silver prices rise.

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Consumers couldn't turn frowns upside-down for long

Tue, 24 Jun 2025 22:35:00 +0000

The Conference Board’s consumer confidence index dropped in June. That’s after a brief reprive in May from a monthslong downward slide. Uncertainty surrounding the job market, tariffs, that GOP tax bill, trouble in the Middle East — what’s not to be glum about? In this episode, we explain what could shift the mood. Plus: Soon-to-be college grads in China prepare for an unwelcoming job market, oil shipping prices grow even as oil prices fall, and Congress considers a new way to regulate crypto.

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Despite Iran conflict, U.S. oil production is unlikely to budge

Mon, 23 Jun 2025 22:35:00 +0000

After launching air strikes on Iranian unclear facilities over the weekend, President Trump posted to Truth Social, demanding that U.S. oil firms “drill, baby, drill.” Although ongoing conflict in the Middle East could balloon oil prices, it’s unlikely that domestic producers are racing to ramp up production just yet. Also in this episode: Renting may be more appealing than buying right now, Treasury auctions see stability, and tariffs threaten the success of a Wyoming trona mine.

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Auto repair shops struggle under Trump's tariffs

Fri, 20 Jun 2025 22:20:00 +0000

In the “tariffs the Trump administration has announced and actually put into long-term effect” category? A 25% tax on some automotive parts. In this episode, we visit an auto repair shop in Vermont where unexpected price increases are affecting business. Plus: Cities invest in revitalized waterways as recreational moneymakers and the Philly Fed reports manufacturing employment slumped in the region.

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Home sales grow less competitive

Thu, 19 Jun 2025 19:55:00 +0000

This spring, just 28% of U.S. homes sold above asking price, according to Redfin. That’s the lowest spring rate since 2020. The trend toward selling at or below asking price is good news for buyers. In this episode, why buyer competition — in some places — has thinned out. Plus: Federal cuts threaten childcare centers for government workers, Oklahoma teens learn about gambling risks in the classroom and we explain the difference between leading and trailing economic indicators.

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Break glass in case of oil price shock

Wed, 18 Jun 2025 22:10:00 +0000

The Fed kept interest rates as-is today, and Chair Powell said policymakers are “well-positioned to wait” before making another move. But what if oil price shock, propelled by roiling conflict in the Middle East, forces his hand? In this episode, we break open the Fed oil crisis playbook — but we hope Powell won’t need it. Plus, projections show the GOP tax bill will cost more than it makes, AI productivity won't boost humans equally and port logistics get complicated under shifting tariff policy.

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Food banks tackle summer break hunger

Tue, 17 Jun 2025 22:35:00 +0000

This is a busy time for food banks — without school breakfast and lunch programs, more families lean on them. But between millions of dollars slashed from the USDA budget and heightened deportation fears, it’s a tougher-than-usual summer. In this episode, we visit Texas food banks with a simple goal: keep kids from going hungry. Plus, Trump wants to privatize Fannie Mae and Freddie Mac, the cost of basic baby items is up 24% since new tariffs were imposed, and retail sales fell in May.

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The Fed's got an interest rate decision to make

Mon, 16 Jun 2025 21:49:00 +0000

The Federal Open Market Committee meets later this week, and it’s pretty likely they’ll examine why tariffs didn’t drive inflation up in May. The good news? A slew of economic data coming out this week could clear things up, and help them make an interest rate decision. Also in this episode: Other central banks have June meetings on the books, domestic steel production ramps up under tariffs — but steel jobs don’t — and Halloween came early this year. Like, really early.

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Shipping costs are up. Thank Trump's seesawing trade policy.

Fri, 13 Jun 2025 22:10:00 +0000

When President Trump slapped sky-high tariffs on goods from China, exporters rerouted ships elsewhere. Now that those tariffs are on pause, shipping costs aren’t magically coming down — the cargo is spread all over the world. In this episode, we explain this unintended effect of Trump’s inconsistent trade policy. Plus: One woman makes it her mission to provide free student loan advice, Georgia shrimpers struggle to compete with foreign suppliers, and a florist navigates price changes.

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No, the Fed should not stop paying interest on reserves

Thu, 12 Jun 2025 22:05:00 +0000

You might’ve missed it amid all the Congressional budget hoopla, but Senator Ted Cruz recently floated ending Federal Reserve interest payments, claiming it would save a trillion dollars over ten years. The problem? Not only would that plan save zero taxpayer dollars, it also goes against the Fed’s mandate to keep prices stable. Also in this episode: Amazon announces AI -generated video ads, Save the Children U.S. shifts gears amid USAID cuts, and FEMA puts pressure on local relief organizations.

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Tariff-driven price bloat hasn't arrived just yet

Wed, 11 Jun 2025 22:35:00 +0000

Prices rose 0.1% in May, according to the latest consumer price index — that’s less than some analysts anticipated. It seems tariffs haven’t quite hit consumers’ wallets yet. We’ll explain what might be going on. Later in the episode: Retailers have cut close to 76,000 jobs so far this year, a 274% increase from the same period in 2025, and Kai and Nela visit a truss manufacturer juggling H2-B visas, automation and tariffs.

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What do U.S. Treasury auctions have to do with me?

Tue, 10 Jun 2025 22:35:00 +0000

Later this week, the U.S. Treasury will auction off billions of dollars worth of 30-year bonds. While that may seem yawn-worthy to most of us, the outcome of that sale has big ramifications for consumer borrowing costs down the road. We’ll explain. Also in this episode: Targeting of international students hurts public and private universities, “core goods” is where tariff-driven inflation might show up first, and students at a fast-growing high school in Utah run their own soda shop.

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What's the consumer debt tipping point?

Mon, 09 Jun 2025 22:35:00 +0000

Consumer credit rose $17.9 billion in April — $6 billion more than projected, the Fed says. Americans may be anxious about tariffs, but low unemployment means a lot of us still have the cash to pay a credit card bill or car payment at the end of the month. But a few debt warning signs are flaring. Also in this episode: Warner Bros. announces a corporate split, the cycling industry shifts gears and we visit a town where the majority of businesses are inside homes.

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Labor force participation dropped last month

Fri, 06 Jun 2025 22:20:00 +0000

The latest jobs report is out Friday, and overall it’s pretty middling — some details are good news; others not so much. One data point sounding economic alarms? The labor force participation rate, which fell to 62.4% in May after several years of general growth since the height of the pandemic. In this episode, we explain what’s going on. Plus: E-commerce exporters in China describe the “rollercoaster” of keeping up with tariffs, and California’s Central Valley experiments with agricultural innovation.

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Churn goes the labor market

Thu, 05 Jun 2025 22:10:00 +0000

Unemployment filings and layoffs are rising, and private sector hiring hit a two-year low, recent reports show. Is it just healthy turnover or should we be worried about the direction the labor market is headed? For now, analysts are split. Also in this episode: Reddit sues an AI firm for scraping its user data and Kai spends more time in Utah County with ADP’s Nela Richardson exploring the obstacles and opportunities that come with a young population.

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Why employers are flocking to Utah County

Wed, 04 Jun 2025 22:35:00 +0000

Provo, Utah, which sits in one of the youngest counties of the U.S., has attracted some major employers in recent years. This week, “Marketplace” host Kai Ryssdal and ADP chief economist Nela Richardson visit and meet with some employers to find out why Provo’s young population and LDS community make a strong labor pool. Plus, a brief history of “tax the rich” and China curbs rare earth exports.

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What if government data becomes untrustworthy?

Tue, 03 Jun 2025 22:05:00 +0000

The GOP’s budget bill, now at the Senate, includes proposed cuts to federal statistical agencies. That could make government data narrower and less reliable. And when governments fail to put out dependable data? “It ends up being a real drag on the economy,” said economist Laura Veldkamp. Also in this episode: We visit an entrepreneurship hub in Provo, Utah, experts weight the merits of hard and soft data, and warehouses see a usage boom amid tariff uncertainty.

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How many trade wars are we in right now?

Mon, 02 Jun 2025 22:25:00 +0000

It depends on who you ask. But we can all agree that this round of tariffs is not the same as the ones President Trump enacted during his first term. In this episode, we compare the tariffs of 2018 to the chaotic rollouts and rollbacks of 2025. Plus: We visit Utah County, one of the youngest areas in the U.S., with ADP chief economist Nela Richardson.

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Where's the job market headed?

Fri, 30 May 2025 22:00:00 +0000

The economic reports out this week gave a fuzzy view of the economy, but next week will be all about jobs: job openings, labor productivity, and the latest jobs report. So far this year, employment has been pretty even-keeled — despite tariff uncertainty. Will May data be any different? Also in this episode: A field guide to the ultra-wealthy and a Minnesota family of seven (soon to be eight) grapples with higher costs.

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This GOP bill will affect borrowing costs for everyone

Thu, 29 May 2025 22:35:00 +0000

The GOP spending and tax bill making its way through Congress would pile significantly onto the national debt. In turn, bond investors will demand higher yields and — unless something changes — the cost of borrowing for a business or a mortgage is likely to go up too. Also in this episode: YouTube stars build their own production studios, a Texas bill seeks to avoid orphan oil wells and we break down the economic implications of yesterday’s judicial ruling on Trump’s tariff policy.

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Can anyone compete with Nvidia?

Wed, 28 May 2025 22:35:00 +0000

Nvidia, as you probably know, makes chips — more specifically, GPUs, which are needed to power artificial intelligence systems. But as AI adoption ramps up, why does it feel like Nvidia’s still the only chipmaker in the game? In this episode, why the California-based firm is, for now, peerless, and which companies may be angling to compete. Plus: Dwindling tourists worry American retailers, Dick’s Sporting Goods sticks to its partly-sunny forecast and the share of single women as first-time homebuyers grows.

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Consumer sentiment rebounds

Tue, 27 May 2025 22:15:00 +0000

The Conference Board’s latest consumer confidence index notched its highest monthly increase in four years. To be clear, it was coming off a five-year low in April, but the jump still represents cooling trade war anxieties among American consumers. Also in this episode: The U.S. isn’t the only country experiencing rising bond yields, durable goods orders fell in April and first-time home owners in Houston are saddled with climate-related cost burdens.

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Pessimistic about the economy? You're not alone.

Mon, 26 May 2025 21:35:00 +0000

When “vibecession” became a word in 2022, it referred to consumers grappling with higher prices despite a strong economy. This year, consumers are feeling similar. In this episode, what makes today’s sour economic mood, driven by trade war anxiety, different from the last one. Plus: Two big economic indicators come out later this week, we explain the inner workings of online travel agents, and “This is Uncomfortable” host Reema Khrais helps a couple solve a financial disagreement.

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WNBA franchises are a slam dunk in this iffy economy

Fri, 23 May 2025 22:35:00 +0000

The WNBA’s first expansion team in 18 years, the Golden State Valkyries, played its first game last week to a crowd of 18,000 fans. Though this uncertain economy may not be ideal for most new businesses, professional women’s basketball is soaring to new heights: three brand-new teams joined the league this season. In this episode, why WNBA franchises are emphasizing community over star power to attract new fans. Plus: falling international student enrollment is bad news for the job market and locals push back against lithium mining in the Andes.

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Who can afford a house in this economy?

Thu, 22 May 2025 22:35:00 +0000

The supply of homes for sale hit a nearly five-year high in April, but prospective buyers aren’t exactly taking the bait. Some may feel they’re swimming in options, but many can’t afford what’s available. In this episode, why the spring housing market is feeling unbalanced. Plus, online restaurant reservation platforms duke it out with the help of credit card companies, big cities grow bigger and investors see U.S. Treasuries as an increasingly risky option.

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The bond market is panicky over that GOP bill

Wed, 21 May 2025 22:45:00 +0000

The latest GOP spending and tax bill would add an estimated $3.8 trillion to the national deficit over the next decade. More debt means the government will issue more bonds. But investors don’t necessarily want a flooded bond market — we’ll explain why. Also in this episode: Stakeholders report longer waits for financial aid information since Department of Education layoffs, retailers set their sights on European markets to alleviate tariff pressure and workplace adoption of AI is tricky to track.

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Which companies can "eat" Trump's tariffs?

Tue, 20 May 2025 22:35:00 +0000

Over the weekend, President Trump told retailers to “eat the tariffs” after Walmart warned of price hikes spurred by the trade war. Across the country, retailers are making tough calls when it comes to tariff costs. So why is Home Depot in a better position to keep prices stable than Walmart? Also in this episode: stablecoins inch closer to bank distribution, turbine backlog slows energy sector growth and we get some advice on what to buy before more tariffs kick in.

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"Buy Canadian" boycott takes off

Mon, 19 May 2025 22:35:00 +0000

These days, Canadian consumers aren’t just interested in supporting their own homegrown businesses — they’re also actively avoiding American ones. In this episode, Marketplace’s Kimberly Adams visits businesses in Ontario to hear why our neighbors to the north are shunning U.S.-made products. Plus: An economist dissects the Moody’s downgrade of the U.S. credit rating, a Black-owned lender leverages grants from major banks to support its community and AI threatens the software engineering job sector.

Redefining the "college senior"

Fri, 16 May 2025 22:30:00 +0000

University retirement communities — where a college partners with a senior living community to provide residents access to classes, concerts, sporting events and more — are rising in the U.S. It's an attempt by some colleges to cater to the growing number of Americans over 65. We'll visit one just outside of Baltimore. Also: what a disconnect between hard data and soft data means for the Federal Reserve and how Chinese exporters are pivoting amid tariff uncertainty.

When stressed consumers and higher prices collide

Thu, 15 May 2025 22:35:00 +0000

Retail sales were practically flat from March to April, and consumers are feeling more glum, two recent reports show. Already, one big box retailer has said it will start raising prices in the wake of tariff pressure. In this episode, what happens when stressed shoppers meet higher costs? Plus: Data centers could be key to stabilizing natural gas demand, slashed USDA grants leave small farms scrambling to stay afloat and Trump’s tariffs, ironically, send some manufacturing out of the U.S. and into Canada.

That "big, beautiful" tax bill could shock the bond market

Wed, 14 May 2025 22:35:00 +0000

Early estimates say the GOP’s tax bill will add $3.8 trillion in deficits over the next 10 years. (This, despite President Trump’s insistence on shrinking the national debt.) But amid economic instability caused by the trade war and federal spending cuts, will the bond market snap up all that government debt? Plus: What to look for in Thursday's producer price index, why moving manufacturing to the U.S. will be easier for some sectors than others and how grocery store generics became so popular.

So, when will we see those tariff price hikes?

Tue, 13 May 2025 22:35:00 +0000

New data shows us that despite President Trump’s new tariffs, the inflation rate for some categories of goods stayed the same or even fell in April. In this episode, we’ll break down why — and explain when we might start to see price hikes. Plus: We take a trip down the supply chain, three retailers share how business is going and “How We Survive” host Amy Scott tells us how to make retirement account investments more climate-friendly.

U.S. and China hit pause on tariff war

Mon, 12 May 2025 21:53:00 +0000

For the next 90 days, the two countries will temporarily ease tariffs on each other’s goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.

Uncertainty is the name of the game

Fri, 09 May 2025 21:00:00 +0000

This week, the Federal Reserve opted to leave short-term interest rates alone, despite concerns about the rising risks of a weakening U.S. economy. In this episode, we speak with Sudeep Reddy of Politico and Courtenay Brown of Axios about the Fed's latest decision and the current state of trade negotiations. Plus, why NOAA is retiring its billion-dollar disaster database and how New York City is moving to decarbonize its pension fund.

What we're expecting

Thu, 08 May 2025 22:35:00 +0000

The latest consumer expectations report is out and Americans are feeling much worse about their own personal financial situations than they were in March. Their inflation expectations though, haven’t budged much. In this episode, we look at why that might be — and whether these surveys correlate to economic reality. Plus: tariffs dampen hobby splurgers’ spirits, labor productivity drops and we nibble on the U.S.-U.K. trade deal.

U.S. to talk trade with China

Wed, 07 May 2025 22:25:00 +0000

As tariff pressures mount, China’s vice president and other leaders have agreed to meet with top U.S. officials. If history is any guide, substantial change to the tense trade relationship between the two countries will take time. So what’s urgent enough to discuss this week? Plus, some big companies issue more Eurobonds, small businesses tread lightly when discussing the trade war and “Marketplace” host Kai Ryssdal explains the latest Fed decision.

What comes after the trade deficit surge

Tue, 06 May 2025 18:25:00 +0000

The U.S. trade deficit hit a record high in March, as businesses rushed to bring in goods ahead of new import taxes. Now that President Trump’s tariffs on goods from China have set in and globally targeted tariffs are set to resume in July, what happens to the trade deficit? Plus: Lab-grown diamonds disrupt a centuries-old industry, a few big companies are back in the bond market and how the trade war could disrupt retirement plans.

How cheap is too cheap?

Mon, 05 May 2025 22:35:00 +0000

Oil companies are barely breaking even on crude oil right now — a barrel of West Texas Intermediate started Monday at a paltry $58. If prices stay low, firms will have a choice to make: invest in new production, or pay investors dividends. Plus, the services sector expanded but remains wary of tariffs, health care hiring may not weather major cuts to Medicaid and we visit an electric vehicle showcase in Shanghai.

Supply chain strain, redux

Fri, 02 May 2025 22:20:00 +0000

It’s been one month since President Trump raised tariffs on goods from China. Already, the global supply chain is struggling. In this episode, we’ll hear about plummeting container ship traffic to the U.S. and how small retailers are dealing with limited stock. Plus, how the drayage sector is faring and what all these tariff negotiations will mean for the global economy going forward.

What will Trump's trade war do to labor productivity?

Thu, 01 May 2025 22:35:00 +0000

An upward climb in labor productivity has been a promising economic trend over the past few years. That’s important because productivity drives overall economic growth. But President Trump’s trade war, which is causing many businesses big and small to hold off on major investments, could cause that productivity to stagnate. Also in this episode: Coca-Cola reports stronger-than-expected earnings, the GOP wants EV owners to pay for road maintenance costs usually covered by a gas tax and the Sunbelt housing market turns lukewarm.

"March is ancient history"

Wed, 30 Apr 2025 22:35:00 +0000

The latest GDP calculations and PCE index tell us the U.S. economy is doing … OK. Importantly, the data doesn’t point to stagflation. But the data was collected from January through March 2025, and at this point, March is old news. Also in this episode: American companies ramp up their spending on computers, Nike’s struggle to move sneaker manufacturing out of Asia is a cautionary tale and Texas becomes the biggest state to send public dollars to private schools through school choice vouchers.

Tariff fears likely shrunk the GDP

Tue, 29 Apr 2025 22:35:00 +0000

When new gross domestic product data comes out tomorrow, economists expect we'll see the first GDP contraction in three years. But the report is backward-looking, so if the GDP did shrink, it will be thanks to tariff-related anxiety in the first quarter, rather than actual tariff implementation that kicked off in April. Also in this episode, some workforce stories: Why hiring more FAA air traffic controllers won’t be easy, a worker navigates Wyoming’s trona mining industry and a bathtub helps us understand the labor market differential.

Taxes due today on goods sold tomorrow

Mon, 28 Apr 2025 22:30:00 +0000

Though it’s hard to say how much tariff-driven sticker shock consumers can stomach, some retailers have begun raising their prices. Other companies are rushing to set up “foreign trade zones” which allow them to sit on imported goods while they figure out their next move. In this episode, we'll also discuss how Trump's trade war — and the uncertainty it generates — is affecting a flower delivery business, the job market and American farmers.

In this uncertain economy, gold shines

Fri, 25 Apr 2025 22:15:00 +0000

The stock and bond markets may tumultuous right now, but gold prices have been on a tear. This week, they hit an all time high of $3,500 an ounce. In this episode, why nervous consumers, investment firms and even central banks are trading in cash for gold. Plus: The Trump administration announces incentives to get self-driving cars on the road and the largest passenger ship in the U.S. prepares to be sunk for science.

Trump aims axe at community lender fund

Thu, 24 Apr 2025 22:55:00 +0000

The Treasury’s Community Development Financial Institutions Fund supports lenders in far-flung and underserved areas. It also made a laundry list of federal programs President Trump deemed unnecessary and ordered to be “eliminated” last month. In this episode, how local banks are preparing for the possibility of losing that critical funding. Plus, leaders in the past who championed tariffs, retailers fret over consumer stress and apartment construction tapers off.

Say goodbye to affordable clothing

Wed, 23 Apr 2025 22:35:00 +0000

Trump’s tariffs will touch the vast majority of industries, but apparel — clothes, shoes, accessories — will be particularly impacted. Around 98% of clothing sold in the U.S. is imported, primarily from China. In this episode, we look at how tariffs have complicated the apparel supply chain. In short? Even fast fashion may no longer be cheap. Plus: The services sector braces for tariff-induced stings, home sales rose in March and a community bank CEO talks handling uncertainty.

No job? No office phone? Thanks DOGE.

Tue, 22 Apr 2025 22:35:00 +0000

Verizon lost nearly 300,000 monthly phone subscribers in the first quarter. The telecom giant put partial blame on ongoing government layoffs. Verizon will bounce back, analysts say, but its bad news may be followed by similar corporate disclosures reflecting DOGE-driven funding cuts and an atmosphere of paring back. Later in this episode, the U.S. lags China in nuclear power expansion, economic instability hinders AI data center investment and Catholic nuns struggle to find affordable care as they age.

Boeing aircraft, duty-free no more

Mon, 21 Apr 2025 22:35:00 +0000

The scale and volatility of the trade war may be surprising, but tariffs aren’t new — unless you’re an aircraft manufacturer. (A trade agreement eliminated duties on commercial jets in 1980.) Last week, China told its airlines to reject Boeing deliveries, and since then at least two jets have been redirected to U.S. soil. Also in this episode: Student visa revocations could impede U.S. innovation in tech and science, home sellers are making concessions and consumers struggle with credit card debt.

Special Coverage from Marketplace: Selling America

Sun, 20 Apr 2025 22:00:00 +0000

Stop us if you’ve heard this before: We’re in an unprecedented economic moment. But this time really is different. America’s place in the global economy is shifting, and what happens next is going to matter for businesses, consumers and you. This special Marketplace broadcast, hosted by Kai Ryssdal, is focused on helping you understand the scale and scope of the economic change in real time. Here’s what you’ll hear:

Kai interviews experts about what happens when investors and businesses can’t plan, the relationship between tariffs and the return of manufacturing, and what we should think about employment going forward.

On-the-ground stories from small businesses in Pennsylvania, Tennessee, Washington state, California and Iowa.

Reporting from Sabri Ben-Achour, Justin Ho and Kristin Schwab on global trade without the United States, recession forecasting, and the industry that may experience the most tariff pain.

Listener questions about the bond market, tariff revenue, the role of the U.S. dollar, global confidence and much more.

We count on you, our listeners, to help cover the cost of the reporting that you rely on. If you can, please donate to help keep Marketplace free and accessible for all.

A housing market dilemma

Fri, 18 Apr 2025 22:35:00 +0000

Some relief seems to have arrived on the housing shortage front — listings are up 9% compared to last year. But buyers who’ve been waiting for more properties to go on the market? Not many are biting. In this episode, why the housing market flip-flopped and put sellers in a tough situation. Plus, why the theft of food benefits is common and how warming waters are affecting Maine’s shrimp industry.

Amid turmoil, firms cling to their employees

Thu, 17 Apr 2025 22:30:00 +0000

First-time jobless claims have been pretty stable since the start of March — unlike many other parts of the economy. President Donald Trump’s tariffs and immigration restrictions may not be ideal for businesses, but they could give companies a reason to hold on to workers. Also in this episode: The European Central Bank cuts its key interest rate, get that EV tax credit while you can, and a martial arts master stays in Altadena, California, after losing her studio in the wildfires.

Tariff anxiety turns fun splurges into stress purchases

Wed, 16 Apr 2025 22:40:00 +0000

We’ve heard about people rushing to replace big-ticket essentials ahead of trade war-related price hikes, but what about stuff that’s more of a want than a need? In this episode: Tariff anxieties shape discretionary spending, giving consumers a way to feel some control in this chaotic economy. Plus: mixed signals from a manufacturing report, bitcoin’s chance at “digital gold,” and one of Altadena’s largest employers wants to rebuild and rehire longtime staff after the California wildfires.

Counting the ways tariffs disrupt our economy

Tue, 15 Apr 2025 22:50:00 +0000

For the first few years of the pandemic, businesses navigated a backed-up global supply chain that left some with excess inventory and others with no inventory at all. Tariffs may cause similar issues: Companies are stocking up on imports, and prices will likely rise. In this episode, business owners compare this economic moment to early-COVID supply snarls. Plus: Trade tensions are causing a drop in oil prices and stoking confusion in the steel industry. Also: The first installment of our series about how Altadena, California, businesses will rebuild after the devasting wildfire.

Office uncertainty — inside and out

Mon, 14 Apr 2025 22:30:00 +0000

Fear of unemployment jumped 4.6 percentage points to 44% in March, according to a New York Fed survey. That’s the highest it’s been since April 2020. Expect the commercial real estate market to feel that same vibe. Companies concerned about a tariff-induced recession may make cuts or stick with Zoom instead of leasing new office space, experts told us. Also: Uncertainty is driving up junk bond yields, foreign investors may be pulling back on U.S. markets, and we talk to a small-business executive in “survival mode” over tariffs.

Expect tariff evasion

Fri, 11 Apr 2025 21:18:00 +0000

Just like some people fudge the numbers to lower their taxes, some companies do the same when paying tariffs on foreign goods. The federal government is mostly trusting that what’s in that shipping container is actually 100 bicycles, and not 500 bicycles. But erratic, rapidly changing trade policy is making it easier to evade tariffs, a customs broker told us. Also in this episode: Car insurance costs dip (but probably won’t stay down), a six-figure household income isn’t what it used to be, and the U.S. dollar takes a tumble.

Eyeing the bond market

Thu, 10 Apr 2025 22:30:00 +0000

Stocks aren’t the only assets in the financial markets that were beat up this week by President Trump’s tariffs. Bonds suffered too. After 3-year Treasury yields rose in the face of disappointing demand, bond investors are scrutinizing Treasury auctions for signs of further weakness. Also in this episode: Trump's anti-DEI push could hurt minority contractors, Atlanta Fed chief Raphael Bostic counsels caution and a millennial in Texas dreams of becoming a homeowner.

Acting on uncertainty

Wed, 09 Apr 2025 22:06:00 +0000

We’ve said it more than once lately: This economy is defined by uncertainty. And as President Trump makes aggressive, if erratic, moves on trade and federal funding, firms and organizations are taking action to protect their interests. In this episode, some universities issue bonds ahead of federal funding cuts and some companies retract their investor guidance for 2025. Plus: Tariffs can’t reshore every sector of manufacturing and we launch a series documenting the consumer economy, focused on the views and experiences of people.

A cold snap in corporate bonds

Tue, 08 Apr 2025 21:14:45 +0000

The issuance of corporate bonds has slowed to a crawl, thanks to all that uncertainty in the economy. And without raising money in the bond market, firms may pull back on long-term investments. Also in this episode: The Democratic Republic of the Congo extends its ban on cobalt exports to raise prices, strains in the bar and restaurant business lead to closures and we answer listener questions on trade policy.

Footwear will likely still be “Made in China”

Mon, 07 Apr 2025 23:46:00 +0000

Import levies on Chinese goods amount to 54% right now. But some things that China excels at producing will likely remain in China. In this episode, why shoemaking can’t up and leave anytime soon. Plus: Copper prices ballooned and tanked in the past few weeks, European carmakers weigh their options in the trade war and recession fears, not inflation fears, are driving bond yields.

Who will tariffs hurt the most?

Fri, 04 Apr 2025 23:46:09 +0000

Tariff-driven inflation will hit Americans with the lowest incomes the hardest, slashing their disposable income by at least $1,700 a year, the Yale Budget Lab predicts. We’ll explain why. And the labor market could suffer too if demand falls for all those higher-priced products. Plus, New Mexico allocates oil and gas revenue to child care programs, and in booming West Texas, some residents struggle to access running water.

Reminder: Tariffs are taxes.

Thu, 03 Apr 2025 22:50:42 +0000

Uncertainty about tariffs and trade policy has been top of mind since President Donald Trump’s election in November. We finally know how high those tariffs will be (between 10% and 54%) and to which countries they’ll apply (almost all of them). Now, a key question is: How much will prices rise? In this episode, business owners prep for the costs and some economists predict an economic downturn. Plus: The administration wants the IRS to share undocumented immigrants’ protected information with Homeland Security.

Q1 dealmaking takes a dive

Wed, 02 Apr 2025 22:35:11 +0000

Corporate dealmakers hoped merger and acquisition ventures would heat up this year. But the first quarter of 2025 saw the slowest M&A activity in more than a decade, according to Dealogic. In this episode, why firms aren’t shelling out billions to buy another company in this economy. Plus: Nintendo announces a new Switch console, Gen Z suffers in a low-hire, low-fire job market, and a new study shows nonwhite bankruptcy filers face a lower likelihood of debt relief.

The negative wealth effect

Tue, 01 Apr 2025 22:40:06 +0000

People feel richer — and spend accordingly — when their assets rise in value. That’s called the wealth effect. But when folks get their retirement account statements for Q1 of 2025, they may feel the opposite, since most of those accounts lost value. Will Americans pull back on their spending as a result? Plus, subcompact cars steer into the sunset, farmers are pessimistic about tariffs, and very small businesses can be a bellwether of economic trends.

Will owning a home ever be affordable again?

Mon, 31 Mar 2025 22:52:47 +0000

Just how expensive has homeownership become? To afford a typical home, households need an income of about $117,000 right now — a 50% increase from $78,000 in January 2020, according to a Bankrate report. Over the same five years, wages rose just 27%. What gives? Also in this episode: The dollar’s value drops, Europe weighs economic independence amid tariff troubles and falling enrollment shrinks budgets at rural public schools.

Are U.S. consumers finally running out of steam?

Fri, 28 Mar 2025 23:30:35 +0000

Consumers say they’re fed up with inflation, then they keep spending. But their behavior could be catching up with their anxiety, an economist told us. The clues are in data released today by the Commerce Department. Also in this episode: Can you live on just 13 gallons of water a day? One water-saving group thinks it’s possible. Plus, we look into how cities, farmers and compost brokers are tackling organic waste.

Uncertainty, thy name is tariff

Thu, 27 Mar 2025 23:32:00 +0000

The U.S. economy grew at a 2.4% annual rate in the fourth quarter of 2024, the Bureau of Economic Analysis reported today. That number tells us where the economy was headed coming into this year. But with uncertainty surrounding tariffs, that story has taken a turn. Plus, how sinking credit scores caused by student loan delinquencies could hurt the overall economy, and the dramatic rise in modern-day train heists.

The law of unintended consequences

Wed, 26 Mar 2025 23:58:22 +0000

More tariffs are on the way, this time targeting vehicle imports. President Donald Trump favors import taxes, partly because, he argues, they’ll help shrink the U.S. trade deficit. But if tariffs cut Americans’ spending on imports, foreigners are likely to cut their contribution to funding the U.S. budget deficit. Also on the show: BLS economists use not one but six different methods to measure unemployment, and organizational studies professor Elizabeth Popp Berman explains why university endowments can’t simply replace federal funding.

Consumer confidence continues to dim

Tue, 25 Mar 2025 23:15:28 +0000

The latest reading marks the fourth straight month of declining consumer confidence, and it fell more than expected. How will the souring mood affect spending and the job market? Also in this episode: Political economist Mark Blyth discusses how President Trump might respond to a potential recession. Plus, why tariffs are making investors wary of the U.S. and a company claims to have a new way to make seawater drinkable.

Will tariffs boost U.S. manufacturing?

Mon, 24 Mar 2025 23:24:58 +0000

The Donald Trump administration wants to strengthen U.S. manufacturing with tariffs on imported goods. We look at the latest purchasing managers report to see if new trade policies have made an impact. Also in this episode: Homeownership rates stall for Gen Z and millennials, shakeups at Fannie Mae and Freddie Mac, and Baltimore’s new Francis Scott Key Bridge design takes shape.

Measuring a tax cut is all about the framing

Fri, 21 Mar 2025 23:34:45 +0000

We’re tackling a “mysterious and important” question in today’s episode: Should Congress use “current policy” or “current law” baseline when measuring tax cuts? It’s not unlike our reporter’s internal struggle on whether to cancel Apple TV+ now that Season 2 of “Severance” has ended, or renew it. Except lawmakers are dealing with trillions of dollars. Plus: African immigrants fill critical home health aide roles in Texas, and The Conference Board’s Leading Economic Index falls for the third-straight month.

These sectors are bracing for price hikes

Thu, 20 Mar 2025 23:21:27 +0000

More tariffs are set to take effect April 2, and in most cases, American consumers and businesses will pay the tax. We’ll explain why some sectors expect prices to rise as soon as next month while others won’t feel a pinch until later in the year. Also in this episode: Tariffs could inflate the dollar’s strength while sapping demand for American exports, Gen Zers feel “trapped” by microtrends and Alaskan crude oil production is projected to jump in 2026.

Fed takes “wait and see” approach with tariffs

Wed, 19 Mar 2025 23:26:35 +0000

Federal Reserve policymakers aren’t cutting interest rates right now, though they expect two rate cuts in 2025. When — and if — those cuts come will depend on how the trade war shakes out. In this episode, what static rates mean for consumers and businesses. Plus, more byproducts of tariff-driven economic uncertainty: bond spreads widen and export prices rise, particularly on agricultural products.

Stress-Googling “recession”? You’re not alone.

Wed, 19 Mar 2025 01:54:34 +0000

“Recession” recently peaked on Google Trends — a sure sign Americans are sweating the possibility of an economic downturn. But what do the numbers say? Well, the hard data so far reflects a pretty strong economy. But the soft, economic-vibes data, is … less optimistic. Plus: Government credits help Tesla and other EV-makers stay afloat, liquefied natural gas exports are slated to double in five years and advocates help young people who’ve aged out of foster care find resources.

Working 9 to 5 — and 6 to 11. Maybe weekends too.

Mon, 17 Mar 2025 22:45:37 +0000

About 8.9 million. That’s how many U.S. workers worked more than one job in February — an all-time high, according to the Bureau of Labor Statistics. We spoke with some workers holding multiple job about why this economy necessitates a second (or third) gig. Plus, economist Mohamed El-Erian on DOGE and recession odds, and we break down why the U.S. energy mix probably won’t change much under President Donald Trump.

Will homebuyers spring at lower rates?

Fri, 14 Mar 2025 23:33:36 +0000

Mortgage rates have fallen recently to 6.6% for a 30-year fixed. But will it be enough to bring prospective homebuyers off the sidelines? Not according to one survey, which found some buyers are holding out for rates below 5%. Also in this episode: The Trump administration cut USDA programs that allowed schools and food banks to buy fresh, local food. And the U.S. wants Chinese consumers to spend more, but that won’t be easy.

The weakening dollar

Thu, 13 Mar 2025 23:10:08 +0000

The U.S. Dollar Index has fallen sharply in the last few weeks, thanks largely to tariff flip-flopping and overall economic uncertainty. Typically, significant sustained changes in a currency’s value indicate the relative strength of a nation’s economy. Should we be worried? Also: New tariffs triggered a January import rush that will ding GDP, student loan borrowers are temporarily blocked from income-driven repayment plans and Amazon pulls back on its brick-and-mortar grocery biz.

Could economic feelings become fact?

Wed, 12 Mar 2025 23:30:27 +0000

Just 44% of employees feel confident about the next six months at their company, a Glassdoor survey found — the lowest in nine years. Thank government layoffs, tariff uncertainty and a toughening job market. Are these negative predictions warnings of a coming recession? Also in this episode, the overall cost of food at home was flat in February, electric grid battery storage grew 66% in the U.S. last year, and Angelenos worry dumped wildfire debris could be toxic.

Remember tariff exclusions?

Wed, 12 Mar 2025 00:02:42 +0000

Back in 2018 — the last time President Donald Trump led a trade war — some businesses got tariff exemptions if they imported goods that couldn’t be sourced in the U.S. Was the process to apply smooth and transparent? Well … no. Will today’s businesses have the same opportunity? That remains to be seen. Also in this episode: Home improvement stores launch AI helper bots, corporate forecasts aim low, and small businesses hesitate to hire.

Selling a “completely destroyed” home

Mon, 10 Mar 2025 22:40:09 +0000

Terri Bromberg lost her home of 20 years in the Los Angeles fires. Rather than rebuild, the artist and professor chose to sell and move elsewhere. Prospective buyers put in bids without being able to see the plot of land in person. In this episode, Bromberg and her real estate agent tell us about the process of selling in the Pacific Palisades since the wildfires. Plus: China announces retaliatory tariffs on some U.S. agricultural products, Americans lose confidence in their financial futures, and why Tesla’s stock price has slumped.

The contrarian jobs report

Sat, 08 Mar 2025 00:56:47 +0000

Overall employment dropped last month, according to the monthly jobs report from the Bureau of Labor Statistics. At the same time, employers added jobs to the economy. Weird, right? Well, two surveys make up the monthly report — one of households and one of employers. And they can disagree. Plus, more part-time workers want full-time jobs, Gap is on a roll, and professional basketball has become a game regulations.

This isn’t the 2018 trade war

Fri, 07 Mar 2025 00:55:43 +0000

The Federal Reserve may be steering the economy through another trade war. But this time, the inflation of the last few years complicates its task. Also in this episode: Unemployed Americans struggle to snag new positions, banks’ unrealized losses jump, and an aerospace tech startup sets up shop in Cumberland County, Tennessee.

Uncertainty is a certainty

Thu, 06 Mar 2025 00:05:58 +0000

Ask an economist what’s driving decision-making right now, and the answer may well be “uncertainty.” In this episode, the unpredictable environment fuels a range of change: The labor market softens, surveys of the service sector point in opposite directions and Treasury yields sink. Plus, the Commerce Department just dissolved two expert advisory groups, putting the trustworthiness of future federal data into question.

Tariff pain and retaliation

Wed, 05 Mar 2025 00:09:22 +0000

They’re here: President Donald Trump’s 25% tariffs on goods from Canada and Mexico begin today, as well as an additional 10% tax on goods from China. In this episode, we hear from business owners who are caught in the middle of trade policy chaos and explain why Texas is likely to suffer in particular. Plus, Forest Service layoffs devastate rural western mountain towns, and small warehouses are in demand but hard to come by.

Bird flu spreads its wings

Mon, 03 Mar 2025 23:49:58 +0000

As bird flu proliferates across U.S. farms, infecting chickens, cows and even humans, some public health experts worry that that funding to deal with it has been inadequate. Above all, they say we need stronger incentives for farmers and farmworkers to test for and report cases of the virus. Plus, the manufacturing sector’s outlook remains mixed, two-thirds of Americans say they have been victims of a financial scam and what could happen if we removed government spending from GDP calculations.

Will Hollywood’s behind-the-scenes workers stay?

Sat, 01 Mar 2025 00:54:33 +0000

In the past decade, filming outside of Los Angeles has become a cost-effective option for many major studios. And lower housing costs are driving many lighting techs, grips and gaffers to follow. With roughly 13,000 homes lost in January’s wildfires, staying in LA will be even harder for those workers. Also on the show, the rising cost of utilities and a second act for frozen foods.

Hope or fear?

Thu, 27 Feb 2025 23:42:17 +0000

Capital goods orders picked up in January — that’s stuff businesses buy that’ll last a while, like tools and equipment. Is it a sign business owners have money to spend? Or, have tariffs fears and economic uncertainty spooked them into buying things before it’s too late? Also in this episode: Unemployment claims tick up (and that’s not even counting laid-off federal workers), architects stress fire resilience in rebuilding and used car prices rise.

The GDP equation

Wed, 26 Feb 2025 23:38:25 +0000

The second Trump administration has made spending cuts a priority — already, the president has enacted a funding freeze and laid off thousands of federal workers. Reduced government spending will have major ripple effects, though, like shrinking the nation’s GDP. Also in this episode: Trump’s move toward Russia threatens longstanding relationships with European allies and Instacart forecasts a growth slowdown.

A housing reality check

Wed, 26 Feb 2025 00:04:58 +0000

Home Depot, which makes most of its money from renovations, said small projects are driving its sales. That suggests homeowners are staying put — maybe improving the home they have while waiting for a clearer picture of the economy. Meanwhile, home prices just keep rising, although market volatility has cooled off. Also in this episode: When Canadian energy tariffs take effect, New Englanders will pay up and consumer confidence drops amid inflation anxiety.

Who’s in the consumer-spending driver’s seat?

Tue, 25 Feb 2025 00:15:57 +0000

The top 10% of earners account for half of all consumer spending in the U.S., a new study shows. In other words, if the goods and services Americans buy in a year were a pie, those with the highest incomes have been shelling out for a massive slice. Where does that leave everyone else? Also in this episode: Investors and the AI industry await Nvidia’s earnings report this week and tariffs threaten a complex auto manufacturing supply chain.

Tumbling economic sentiment — especially for Dems

Fri, 21 Feb 2025 23:20:25 +0000

American consumers agree: High prices aren’t going anywhere. All that stress about inflation, and throw in the impact of tariffs, heightens uncertainty, which translates into negative economic sentiment. But the severity of concern varies between Republicans and Democrats — a lot. Also in this episode: Private data can’t replace government data, oil tankers “go dark” and though the travel industry enjoyed healthy growth last year, new Trump policies could affect the upward trend.

Access to federal data in flux

Fri, 21 Feb 2025 00:50:47 +0000

Last month, key federal data sets were removed from government websites following actions by the Donald Trump administration, and researchers rushed to preserve the information. David Van Riper of IPUMS, an organization dedicated to improving public access to government data, talked to “Marketplace” host Kai Ryssdal about the importance of these statistics. Plus, Walmart expands and diversifies, ChatGPT has lots of rivals as well as a huge user base, and the U.S. solar industry adapts without Biden-era tax credits.

Vote with your wallet

Wed, 19 Feb 2025 23:52:05 +0000

Nearly half of consumers say they’ve taken action to align their spending with their moral views since the November election, a new Harris Poll shows. That includes boycotting brands based on campaign contributions, or even looking for ways to opt out of consumerism altogether. In this episode, could politically driven shopping habits make an impact on corporations? Plus, Etsy flounders, homebuilders lose confidence and Amazon Alexa and Apple’s Siri play virtual assistant catch-up.

How low can it go?

Wed, 19 Feb 2025 00:48:41 +0000

At the national level, 2.5% is the lowest the unemployment rate has ever been … and that was for just two months in 1953. We’re at 4% right now, but the labor market is pretty tight. In this episode, we ask: How low can unemployment go? Plus, Samsung buys back stock and retires shares, the Fed is thinking about tariffs and a program that teaches refugees to drive runs out of gas, thanks to President Trump’s immigration policy.

All these sellers, but where are the buyers?

Mon, 17 Feb 2025 23:02:42 +0000

Tons of sellers listed their homes in January, after months of waiting in vain for mortgage rates to fall. But many would-be buyers are facing economic uncertainty and aren’t ready to make an offer. Plus: A FEMA rule forces residents of flood-prone areas to make a difficult decision, developing countries will drive global energy demand in the next few years and when colleges close, local communities suffer.

Do you buy the retail sales number?

Sat, 15 Feb 2025 00:01:52 +0000

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.

Time to sell!

Fri, 14 Feb 2025 00:13:29 +0000

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.

What’s next for BP?

Thu, 13 Feb 2025 00:16:54 +0000

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.

Making waves

Wed, 12 Feb 2025 00:19:46 +0000

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.

Some things haven’t changed

Tue, 11 Feb 2025 00:35:46 +0000

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.

Where did all the normal-priced stuff go?

Sat, 08 Feb 2025 01:00:33 +0000

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?

Trump’s bid to take down the 10-year yield

Fri, 07 Feb 2025 00:35:39 +0000

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.

So, about those tax cuts from Trump’s first term…

Thu, 06 Feb 2025 00:41:17 +0000

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.

Yes, the U.S. owes itself money

Tue, 04 Feb 2025 23:45:22 +0000

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.

Theme of the day: Uncertainty

Mon, 03 Feb 2025 23:49:22 +0000

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?

Employers pay up for health care too

Fri, 31 Jan 2025 23:47:27 +0000

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.

The economy that could be

Thu, 30 Jan 2025 23:41:44 +0000

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.

Cents and sensitivity

Wed, 29 Jan 2025 23:38:07 +0000

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.

Business opportunity and a tricky balance

Tue, 28 Jan 2025 23:17:12 +0000

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.

Demographics are destiny

Mon, 27 Jan 2025 23:37:32 +0000

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.

House brands

Fri, 24 Jan 2025 23:54:50 +0000

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.

Still looking

Fri, 24 Jan 2025 00:02:41 +0000

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.