Marketplace Morning Report

Debt is on the rise

Wed, 13 May 2026 13:12:00 +0000

Household debt ticked up slightly in the first three months of this year, increasing by $18 billion, according to the New York Fed. Credit card debt is actually down slightly, but mortgage balances, home equity lines of credit, and car loan balances all grew. We unpack. Plus, later in this morning's show, how might economic tensions appear at the summit between President Donald Trump and Chinese President Xi Jinping?

Consumer prices were up a lot in April

Tue, 12 May 2026 15:10:00 +0000

Prices in the U.S. were up 3.8% year over year in April. That's a faster rate of annual inflation than we saw in March. A main driver was higher energy prices, a result of the war with Iran. Those price increases are taking a bite out of consumer wages, but the pain may be temporary. Plus, small businesses are hanging in there. And, we'll preview President Donald Trump's meeting with Chinese President Xi Jinping.

What's behind sluggish home sales?

Tue, 12 May 2026 11:45:00 +0000

In late February, mortgage rates dipped below 6%, and affordability was beginning to improve. In April, people bought and sold more homes than they did the year before, but not by much. The reason? A whole new source of uncertainty brought on by war in the Middle East. Later in the show: While specialty farmers aren't caught in trade war crosshairs the way commodity farmers are, they still have plenty to worry about domestically.

Young workers aren't feeling optimistic about the job market

Mon, 11 May 2026 15:45:00 +0000

Younger workers typically feel more optimistic about the job market than older ones, but a new Gallup poll found that only 43% of Americans aged 15 to 34 thought that last year was a good time to find a job. That’s compared to 64% of those above the age of 55. The optimism of young workers has dropped by 27 points since 2023, potentially signaling the influence of AI. Plus: a breakdown of the costs, both human and financial, of Nebraska’s Medicaid eligibility rollout and a look into the impact of rising gas prices on inflation.

How proving you're "not a robot" could be training AI

Mon, 11 May 2026 11:50:00 +0000

An announcement from Meta that information about employees’ keystroke and mouse movement would be collected and used to train its artificial intelligence has reportedly caused turmoil within the company. But the concept of harvesting data from everyday digital interactions isn’t new. “Marketplace Morning Report” Host Sabri Ben-Achour spoke with Panagiotis Ipeirotis, a professor of Technology and Business at NYU Stern, about how seemingly innocuous online activity can be used to train AI. But first: rising gas prices are making some Americans cut back, but the k-shaped economy knows no bounds.

Care to invest in the U.S. during a trade war?

Fri, 08 May 2026 15:00:00 +0000

President Donald Trump has tried to pressure foreign countries to invest in the U.S. by threatening tariffs. But for decades, the federal government has also been putting on the SelectUSA Investment Summit, a giant trade show where states and businesses try to attract foreign investors. We have a dispatch from this year's Investment Summit. Plus, some of Trump's latest tariffs have been deemed illegal. And: a better-than-expected jobs report and some slower-than-expected World Cup hotel bookings.

The context behind 115,000 new jobs

Fri, 08 May 2026 13:20:00 +0000

This morning, the Bureau of Labor Statistics released fresh jobs data for April. Unemployment remained unchanged at 4.3%, and the overall economy added 115,000 new jobs. A warmer-than-average April resulted in strong seasonal hiring, though it may be too early to see drags from war and high gas prices. Then later, we'll check in with the owner of a Virginia tea shop, who — like many small business owners — has been buffeted around by changing tariff policy.

Productivity is on the upswing

Thu, 07 May 2026 15:20:00 +0000

Labor productivity has been on a growth streak for the past year and a half. It increased 0.8% in the first quarter of this year, according to the Bureau of Labor Statistics, and is up almost 3% from a year ago. How much of this boils down to AI? Also on the show: threatened tariffs against the European Union and a conversation about U.S. dollars, the oil shock, and investment from Gulf countries.

Will healthcare costs sway how you vote?

Thu, 07 May 2026 11:50:00 +0000

If you ask people what they’re most worried about affording these days, healthcare tops the list (now tied with gas). And that concern may translate to a wave of resentment at the ballot box: About 90% of people say healthcare costs will influence whether and how they vote in November, and more than half say it will have a major impact. Then, the United Arab Emirates wants a currency swap with the United States. We explain.

Markets mull an end to war in Iran

Wed, 06 May 2026 14:20:00 +0000

The U.S. and Iran are reportedly back to working on an end to the war, and sources say a deal is close. Axios reports that the deal would involve a moratorium on nuclear enrichment and an end to sanctions. This morning, we dig into how seriously markets are taking these peace talks. Then, we continue our discussion of Iran's beleaguered economy — and who exactly they blame for it.

Insurers ease up on prior authorization

Wed, 06 May 2026 11:00:00 +0000

United Healthcare, the nation’s biggest insurer, announced that it’s cutting back on its requirements for prior authorization by 30%. Prior authorization is when your doctor orders a medical procedure, test, or drug, but you can't get it before the insurance company's approval. For insurers, it's a way to cut costs. For doctors and patients, it's a source of massive frustration. Plus, we check in on the state of Iran's wartime economy.

How ICE skirts public input on detention centers

Tue, 05 May 2026 14:25:00 +0000

Immigrant detention facilities are being bought and retrofitted seemingly overnight without public input across the U.S., and there's little to no notice given to local governments. How can this happen? It's all traced back to a war-focused contracting method Immigration and Customs Enforcement has been using to its advantage. But first, the New York Times reports that the president is considering setting up a safety-vetting process for AI models.

The rise of the side hustle

Tue, 05 May 2026 11:40:00 +0000

Roughly one in every 20 U.S. workers is holding down multiple jobs, according to the Bureau of Labor Statistics. That's fallen a fraction of a percent since last fall, when we saw the highest rate since 1999 — around the moment just before the dot-com bubble burst, when there were fears about what increasing automation meant for job-holders. Sound familiar? Then, we'll unpack a recent water-saving plan to address the ongoing water crisis in the Colorado River Basin.

Will students be shut out of pricier grad programs?

Mon, 04 May 2026 14:30:00 +0000

Starting July 1, a cap on federal student loan borrowing limits kicks in. Graduate students will soon only be able to take out $20,500 a year, and up to $100,000 in total; the cap is higher for some professional programs, like medicine or law. But all this could mean new barriers to advanced degrees for students with little or no credit. Plus, we look at the ever-shrinking consumer cushion. And, what happened to talks of a proposed Spirit bailout?

Fewer Americans are earning a living wage

Mon, 04 May 2026 11:39:00 +0000

A new report from Dayforce and the Living Wage Institute found that just over half of full-time workers earn enough to provide for themselves and their families. Wages have been rising, just not as quickly as costs. Familiar racial and gender gaps persisted, too — and got wider in 2025. But first, GameStop is trying to buy eBay for $56 billion, though it's unclear where all that money would come from. Then, is the robotaxi revolution ever coming?

How student loan caps shaped one family's college decision

Fri, 01 May 2026 14:55:00 +0000

When college-bound high school seniors commit to a school, it's always a complicated calculus, especially for families who need financial aid. But for students starting this fall, there’s a new wrinkle: new caps on how much parents can borrow from the federal government to help their kids pay for college. Today, one high school senior and his mom talk college finances. Plus, we'll recap an especially busy week for the economy.

The U.S. economy with fewer immigrants

Fri, 01 May 2026 12:20:00 +0000

Last year, more people left the U.S. than moved in — it’s the first time that’s happened in at least half a century. And 2026 is expected to see even more outmigration. Immigrants pay taxes and are a major part of the labor force in construction, agriculture, and healthcare. All of that can have lasting effects on the economy. But first up, we explore federal government retirement matching and dig into underemployment.

Big Tech knocked it out of the park

Thu, 30 Apr 2026 15:05:00 +0000

Yesterday, we got quarterly results for some of the biggest companies in the economy, including Google parent company Alphabet, Microsoft, Amazon, and Meta. Investors have been pinning hopes on Big Tech. We'll do the numbers on tech firms' earnings and discuss whether the good times — and big spending on AI — can last. But first, the U.S. economy grew faster in the first three months of this year, and we'll outline challenges awaiting Kevin Warsh as the next chair of the Federal Reserve.

Chipping away at Nvidia's chip dominance

Thu, 30 Apr 2026 11:20:00 +0000

It’s Big Tech week on Wall Street. Quarterly results from Alphabet, Meta, Microsoft, and Amazon all beat expectations. And shocker: They’re all still spending a lot on AI. One of the biggest expenses is chips. That’s made Nvidia the most valuable company in the world. Now, other Big Tech companies want to get in on that action. Then, the Trump administration has wound down funding for mRNA vaccine development. We’ll explore the impacts.

Will the Magnificent Seven have magnificent earnings?

Wed, 29 Apr 2026 15:05:00 +0000

Five of the Magnificent Seven — Alphabet, Microsoft, Amazon, Meta, and Apple — are reporting earnings this week. These tech titans have kind of been single-handedly holding up the market for a while now. Can the good times last? Then, China is the largest manufacturer of solar energy parts in the world, and it's considering restricting exports of solar panel manufacturing equipment to the United States. And, we look at the highly personal legal battle between Elon Musk and OpenAI’s Sam Altman.

It's farm bill time

Wed, 29 Apr 2026 11:40:00 +0000

Every five years or so, Congress considers and passes a new version of the farm bill. It is a massive law covering not just agriculture, but also food assistance programs. And it comes at a particularly tough time for farmers, who are being pinched by drought, tariffs, and rising fuel and fertilizer costs. Then, what's the UAE's departure from OPEC mean for oil prices? And later, from "Marketplace Tech," we hear how Section 702 of the Foreign Intelligence Surveillance Act opens the "backdoor" for warrantless searches.

Would a government bailout of Spirit Airlines be worth it?

Tue, 28 Apr 2026 14:50:00 +0000

The Trump administration has reportedly been in talks to bail out Spirit Airlines, either with a big loan or by buying it. The budget airline had already been struggling, and now faces even tougher times with higher fuel costs. But does that justify bailing it out? Plus, an upstate New York toy and doll shop owner reflects on the stop-start jolts of U.S. trade policy and the challenges of the tariff refund process.

When tariff uncertainty means nixed retirement plans

Tue, 28 Apr 2026 12:12:00 +0000

We've talked a lot about the rollercoaster of tariffs. But behind every economic story is a human one, too. This morning, we check in with Joann Cartiglia, who runs a toy and doll shop in upstate New York. She's looking at around $15,000 in tariff refunds. Still, uncertainty, precarity, and debt have put her in "the scariest financial situation" of her life and mean that retirement has “been kind of taken off the table.” But before that conversation: a Federal Reserve meeting and a royal visit with the president.

How about a roadtrip instead?

Mon, 27 Apr 2026 15:15:00 +0000

As people look to plan their summer vacations, they're being price-conscious. While 60% of Americans plan on traveling, more people will drive instead of flying, and more are opting for shorter trips. Plus, with the end of the Justice Department's investigation into Federal Reserve Chair Jerome Powell, successor Kevin Warsh looks poised for a successful confirmation. And later, we head to Maine to hear how a Maine sea urchin processing firm has survived for four decades.

A Forest Service reorg ahead of fire season

Mon, 27 Apr 2026 12:20:00 +0000

The U.S. Forest Service is heading for a major restructure. Its headquarters are moving from D.C. to Utah, all regional offices are being eliminated, and dozens of research facilities across 31 states are being shuttered. This is all unfolding before what's expected to be a very active wildfire season. How do these changes affect our ability to fight wildfires? But first, we're digging into the latest economic impacts of war in the Middle East.

Kevin Warsh and the Fed's balance sheet

Fri, 24 Apr 2026 15:11:00 +0000

The Federal Reserve has two jobs: promote job growth and control inflation. To do that, it sets interest rates. It also buys bonds and securities to influence those markets, and is now sitting on a massive $6.5 trillion pile. President Trump's nominee for Fed Chair, Kevin Warsh, wants to shrink that asset pile. We'll dig in. Also: optimism from one soon-to-be grad. Plus, how much longer can the standoff in Iran last before oil markets have to respond?

Let's understand the informal economy

Fri, 24 Apr 2026 11:35:00 +0000

When we talk about who makes up the economy, we're often talking about workers a company formally employs. But a lot of people find themselves working in the informal economy — generally defined as economic activity that falls outside of official regulation. It's not taxed, not tracked, and is mostly invisible to official statistics. Today, we'll dig into its importance and risks. But first, marijuana gets a tax break.

Clearing the path to homeownership for renters

Thu, 23 Apr 2026 15:45:00 +0000

The Trump administration announced a big change in how people's credit is assessed when applying for mortgages. Instead of only using FICO scores to prove creditworthiness, prospective homebuyers can now use a separate score model — one that considers things like rent and utility payment history — when applying for loans from mortgage lenders, including Fannie Mae and Freddie Mac. Also on the show: discussions of the market's bullishness and plans for a graduate degree in a tumultuous job market.

The haves and the have nots of energy

Thu, 23 Apr 2026 11:45:00 +0000

Maybe it’s hoarding, or protectionist, or human nature. Whatever you want to call it, some countries have plenty of oil right now — especially wealthier ones with their own refineries and reserves — while others can't get what they need and are rationing fuel. Plus, "starting has always been hard. This era is making it harder," said New York Times bestselling author Jodi Kantor. Today, we hear her job-hunting advice for new grads.

Fearing the "black hole" of graduating without a job

Wed, 22 Apr 2026 14:18:00 +0000

We're less than a month away from graduation ceremonies at college campuses across the country. But the job market college grads are entering is an uncertain one, and the unemployment rate for young people with college degrees remains elevated. This morning, we hear one college senior's take on the slowing labor market and the emergence of AI. But first, the owners of a Brooklyn plant shop chat about navigating higher costs.

Will you have enough to comfortably retire?

Wed, 22 Apr 2026 11:40:00 +0000

New research shows more than a third of workers and retirees don’t think they will have enough money for their retirement years — that’s the highest proportion since 2017. Lower savings rates, higher bills, and concerns over Social Security all constitute a perfect recipe for lower confidence. Also on this morning's program: a preview of Tesla's quarterly earnings and a look at why home prices are falling in Texas.

Why markets are high despite war in the Middle East

Tue, 21 Apr 2026 17:15:00 +0000

JD Vance is expected to travel to Islamabad, Pakistan, on Tuesday for potential negotiations with representatives from Iran, but peace talks are still uncertain as the end of the ceasefire approaches. Markets, though, are nearing all-time records. “Marketplace Morning Report” Host Sabri Ben-Achour spoke with Ken Wattret, vice president of global economics at S&P Global Market Intelligence, about the disconnect. Plus, we check in with two plant shop owners about how they’ve been dealing with tariffs, rent, and our broader economy in this installment of Economic Pulse.

Trump's pick for Fed chair heads to Capitol Hill

Tue, 21 Apr 2026 15:50:00 +0000

President Trump’s nominee to head the Federal Reserve, former Fed governor Kevin Warsh, will testify on Tuesday for his nomination hearing. Warsh is expected to toe the line between maintaining Fed independence and heeding calls from elected officials. Also on the program: war in the Middle East has energy companies looking for ways to diversify their oil supply. Plus, a look into how “social capital” helped to rebuild morale, and economic growth, in Minneapolis following Operation Metro Surge.

How economists are making sense of our geopolitical climate

Mon, 20 Apr 2026 18:10:00 +0000

Markets were hopeful on Friday after Iran announced that the Strait of Hormuz would be reopened to commercial vessels. Now, escalating tensions are bringing expectations back down. Marketplace’s Nova Safo spoke with Julia Coronado, founder and president of MacroPolicy Perspectives and a professor at the University of Texas at Austin, about how global economists at the National Association for Business Economics International Symposium in Rome, Italy, are grappling with the back and forth. Plus, later in the program: underemployment among recent college graduates and how we measure it.

Waiting for gas prices to drop? Don't hold your breath

Mon, 20 Apr 2026 16:15:00 +0000

The Strait of Hormuz has remained largely closed, with only three sanctioned tankers making it through the waterway according to Reuters. When asked about a potential timeline for lower gas prices on CNN, Energy Secretary Chris Wright said prices below $3 “might not happen until next year.” Also on the program, we discuss a New York State law limiting employers’ use of credit history and Germany’s plan to build military enlistment.

Markets optimistic after Iran announces Strait of Hormuz has reopened

Fri, 17 Apr 2026 17:25:00 +0000

Iran declared on Friday that the Strait of Hormuz has reopened for all commercial vessels. While the news caused stocks to rally and oil prices to drop, it’s unclear yet whether or not the market reaction is premature. Plus, we take a look into the aging demographics of first-time homebuyers and their shrinking share of the housing market.

Soaring jet fuel costs could leave European planes grounded

Fri, 17 Apr 2026 14:35:00 +0000

The head of the International Energy Agency warned on Thursday that Europe could run out of jet fuel in few as six weeks. The continent is the biggest consumer of jet fuel shipped through the Strait of Hormuz, and ongoing closures in the strait could lead to swaths of flight cancellations. Also on the program: we discuss shifting expectations for American universities, our aging first-time homebuyer population, and changes at Netflix.

What a time to be a central bank

Thu, 16 Apr 2026 14:50:00 +0000

The Federal Reserve is meeting at the end of this month to figure out what to do with interest rates. They have a tough task ahead of them: weighing the job market, inflation, and a war in the Middle East that is "roiling supply chains in ways that are similar ... to what we saw emerging from the pandemic," said KPMG's Diane Swonk. Also on the show: Rising health insurance costs are dragging down wage growth.

The cost of keeping the lights on

Thu, 16 Apr 2026 11:45:00 +0000

Power utilities plan to spend $1.4 trillion over the next five years on capital projects. A lot of that boils down to grid maintenance and projects to support additional power generation. That’s a 21% increase over what utilities were planning to spend a year ago — and it could drive up household utility bills. Then, it’s been a little over three months since the capture of Venezuelan President Nicolás Maduro. How has Venezuela's oil industry changed since?

So many different flavors of oil

Wed, 15 Apr 2026 15:05:00 +0000

We talk a lot about the price of oil on this show, but there are actually dozens of types of oil. On today's program, we're learning about where they come from, what they're used for, and why the price of oil futures differs from oil's on-the-spot market price. And later, as energy gets more expensive, governments around the world are asking people to try to conserve energy. How much of an impact do those moves have?

Tariff refunds are coming

Wed, 15 Apr 2026 11:05:00 +0000

The Trump administration says it’ll start issuing refunds for tariffs the Supreme Court ruled were collected illegally next week. Customs and Border Protection's automated system will be able to process about 82% of the tariff payments, worth about $127 billion. More complicated claims will have to wait. Then, we'll discuss what the closure of the Strait of Hormuz means for U.S. oil producers. Plus, could a United Airlines-American Airlines merger be in the cards?

The spring housing market's not in full bloom

Tue, 14 Apr 2026 15:10:00 +0000

It's springtime, meaning the real estate market is supposed to be popping. But fresh data from the National Association of Realtors shows seasonally adjusted sales of existing homes are actually down 3.6%. What's going on? Also on the show, Chinese exports slowed sharply last month amid energy shocks, and a surge in the cost of petrochemicals — used in plastics, fertilizers, and more — is likely to translate to higher costs on supermarket shelves.

Breaking down where all your federal tax dollars go

Tue, 14 Apr 2026 11:45:00 +0000

It's almost Tax Day. And while some of us may have waited till the last minute to do our taxes, the federal government sure won't be wasting any time spending them. This morning, we're unpacking how much of your tax bill goes toward services like defense, Social Security, health care, food assistance, the national debt, and more. Plus, there's been no net job creation over the last six months, which can make the economy more vulnerable.

War in the Middle East, oil, and jobs

Mon, 13 Apr 2026 14:30:00 +0000

The U.S. has threatened a blockade of Iranian ports set to go into effect this morning. That means the supply of oil will be even more restricted than it was before. We'll dig into what all this means for oil markets. Plus, the economic consequences of the war are reshaping businesses' hiring plans stateside, too. And, there's a parade of banks releasing results this week. Investors are paying close attention.

Doing the numbers on your grocery bill

Mon, 13 Apr 2026 11:40:00 +0000

Grocery prices on average are up about 2% compared to this time last year. But split up the food groups, and we start to see some bigger numbers. Tomatoes, lettuce, and nonalcoholic beverages (especially coffee) led the way for price increases. Meanwhile, the cost of meat and dairy declined. Why? Also: a Straight of Hormuz blockade courtesy of the U.S., and a look at how Trump's tax and spending law could impact charitable giving.

"Marketplace" Live

Sat, 11 Apr 2026 20:00:00 +0000

Nearly 600 Marketplace fans gathered at the Aratani Theatre in downtown Los Angeles to watch Kai Ryssdal present Marketplace Live, in partnership with LAist.

Kai was joined onstage by economics author, educator, and content creator Kyla Scanlon to talk about AI, prediction markets, Federal Reserve independence, and the war in Iran. Later, former “Marketplace Morning Report” host David Brancaccio joined Kai to discuss his experience rebuilding after the LA fire and his new job as Marketplace senior correspondent covering future effects.

Note: This show was recorded on March 29, and the situation in Iran has changed since then. Follow our latest coverage here.

David Brancaccio reflects on thousands of conversations

Fri, 10 Apr 2026 15:30:00 +0000

David Brancaccio has hosted an estimated 16,925 morning shows over 13 years. Now, for his final time in the host chair, David shares snippets of discussions he's had throughout the years, including with experienced local Del Rio, Texas-based reporter Karen Gleason, Nobel laureate Paul Krugman, and actor and entrepreneur William Shatner. Also on the program, Princeton's Burton Malkiel addresses concerns and gives advice about a potential AI bubble.

"Nobody can time the market"

Fri, 10 Apr 2026 12:10:00 +0000

For his second-to-last time hosting an episode of "Marketplace Morning Report," David Brancaccio spoke with the author of arguably the most influential book on personal finance and investing of all time. First published in 1973, "A Random Walk Down Wall Street" argues that it’s super hard to beat the stock market. Its author, Burton Malkiel, is a Princeton professor emeritus and still going strong at 93. We have that conversation, as well as a preview of March's consumer price index.

How to freeze out scammers

Thu, 09 Apr 2026 15:55:00 +0000

Today, we're returning to our 2019 Brains and Losses series, which investigated the financial exploitation of older Americans. In the years that have followed, AI has only made scams more convincing and easier to conduct. This morning, we're joined by an elder law attorney in Florida to hear how some pioneering laws there are aiming to stop scammers who prey on older people mid-swindle. Also, we’re digging into the Federal Reserve's preferred measure of inflation, which remains stubbornly elevated.

The "chicken tax" and the U.S. auto industry

Thu, 09 Apr 2026 11:45:00 +0000

In the 1960s, the German government put a tariff on American chickens. President Lyndon B. Johnson then retaliated with a tariff on light-duty commercial vehicles and trucks. The back-and-forth has come to define the U.S. auto sector. On this morning's show, why a veteran automotive CEO calls this chicken tax "one of the most important, formative aspects of how the U.S. industry has evolved." But first, markets try to guess whether the U.S.-Iran ceasefire will hold.