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Reports say the G-7 summit of top industrialized nations is reportedly planning to make unprecedented commitments to Ukraine. Russia now appears to be in default on its international debt. And as Western countries turn their backs on Russia, Sri Lanka is desperately turning toward Moscow for help as an economic crisis there continues to worsen.
The U.S. Supreme Court has now overturned Roe v. Wade, the 1973 landmark case that guaranteed a constitutional right to have abortion. So now, states will determine whether people have those reproductive rights. About 26 states will likely ban or nearly ban abortion, given laws on the books or in the works. When the draft opinion of this Supreme Court decision was leaked in early May, we reported about the privacy concerns around some period tracking apps and other online activity. Now that the official opinion is out, how will tech firms move forward in a post-Roe world? Marketplace’s Kimberly Adams posed that question to Rebecca Wexler, a law professor at UC Berkeley and co-director of Berkeley Center for Law and Technology. She says big and small tech companies will need to have a response to the future of users’ data. Your donation powers the journalism you rely on. Give today to support Marketplace Tech.
Between today's Supreme Court ruling on abortion, its recent decision on guns and the Jan. 6 hearings, our democratic system is in a bit of shock. And it might not end anytime soon. On the show today, we’re talking about the Supreme Court’s abortion decision and what it could mean for rights we thought were protected, from contraception to same-sex marriage. Plus, we wrap the week with a round of Half Full/Half Empty! Here’s everything we talked about today: Dobbs v. Jackson Women’s Health Organization “The companies that will cover travel expenses for employee abortions.” from The New York Times “House sends bipartisan gun safety bill to Biden” from Politico “States Rush to Revamp Laws After Supreme Court’s Gun Ruling” from The New York Times We want to hear from you. How are you coping with the deluge of news? Email us at firstname.lastname@example.org or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.
The Supreme Court’s decision to overturn Roe v. Wade won’t just make abortions more expensive and difficult to access; it’s also expected to exacerbate economic disparities between people who can afford access to reproductive services and those who can’t. Today, a look at the ruling’s impact. Plus, a recap of Fed Chair Jerome Powell’s trip to Capitol Hill and companies’ evaluation of hybrid work. Your donation powers the journalism you rely on. Give today to support Marketplace.
The ruling on Roe v. Wade could have a big effect on tech business located in states where abortion could become banned, especially when it comes to drawing tech talent to those states. We look into how gas prices could force a lot of drivers for ride-hailing services to re-evaluate the worth of having that side hustle. Christopher Low joins us to discuss the markets.
We speak with Dan Erickson, the creator, showrunner and head writer of the Apple TV+ show “Severance,” where a group of workers at a mysterious corporate monolith have elected to undergo a surgical procedure that splits their personalities in two: a work version and home version. The nation's biggest banks have passed the Federal Reserve's annual stress test, meant to ensure that banks can keep lending to consumers and businesses even during a severe recession.
From the BBC World Service: EU leaders gather for a summit in Brussels, as concerns grow over the bloc’s reserves of natural gas. Toyota is recalling 2,700 of its new all-electric cars because there’s a risk the wheels might fall off. And one hospital in South Africa is a hotbed of innovation, where surgical robots and AI diagnosis helps improve outcomes and lower costs. Your donation powers the journalism you rely on. Give today to support Marketplace Morning Report.
This week, the Department of Justice settled a lawsuit with Meta, Facebook’s parent company, over the use of algorithms the government said were discriminatory. Meta said it will change its targeted ad toolAnd subject it to what’s called “algorithmic auditing.” Marketplace’s Meghan McCarty Carino speaks with Sasha Costanza-Chock, a researcher with the Algorithmic Justice League. She says audits can be done within companies, by contractors, or by outside parties like researchers and journalists. Your donation powers the journalism you rely on. Give today to support Marketplace Tech.
It’s not just you. Housing affordability is getting worse. Marketplace’s Amy Scott, who covers housing, is here for a news fix on the state of the market. Plus, the economy is giving us bad vibes, and so is the Supreme Court. Then, would you like to sleep in a giant windowless (fake) potato, or what about a submarine? Finally, why Airbnb listings are about to get wild. Here’s everything we talked about today: Select Committee to Investigate the January 6th Attack on the United States Capitol from the House of Representatives “Confidence in U.S. Supreme Court Sinks to Historic Low” from Gallup “Homebuyer affordability worsens in May amid inflation, higher mortgage rates” from HousingWire “Keyword Searches Around ‘Recession’ and ‘Bear Market’ on the Rise” from Similarweb Blog “Airbnb Is Giving Away $10 Million to Build the ‘Craziest Places on Earth'” from Bloomberg “When a U.S. swimmer sank to the bottom of the pool, her coach jumped in to save her” from NPR Join us tomorrow for Economics on Tap. We'll be on the YouTube livestream starting at 6:30 ET/3:30 PT. We’ll have more news, drinks and a game!
Low-paid workers have seen some of the biggest pay increases since the start of the pandemic. But those gains are already slowing as the Federal Reserve puts the brakes on the economy and cools the labor market. Today, we dig into the real-world consequences of the Fed’s decisions. Then, a reevaluation of credit card late fees, a potential moratorium on cryptocurrency mining and high inflation across the pond.
Six years in, Sana and Adnan Akhand loved being married to each other. But sharing everything — their apartment in New York City, their money, the household duties, all their free time — shook the balance of power in their marriage, and they ended up feeling stuck. They were looking for a big reset, and found that they had to interrogate their fundamental ideas about what makes a good marriage to see their future together.
President Biden’s call for a suspension of the gas tax holiday probably sounds like an awesome way to ease the pain of high gas prices, but it might not be as productive as it sounds. In fact, it could make some things worse. The Food and Drug Administration is poised to ban Juul e-cigarettes from store shelves. Dr. Trevon Logan of The Ohio State University joins us to discuss some history behind the Fed’s interest rate raises. Your donation powers the journalism you rely on. Give today to support Marketplace Morning Report.
Fed Chair Jerome Powell told the Senate Banking Committee on Wednesday that recession is possible, and he’s expected to testify before the House Financial Services Committee today as part of his twice-a-year report to Congress on monetary policy. The Oscar-nominated documentary “Ascension” examines the concept of the Chinese dream through the lens of several people woven into its shifting economy. China correspondent Jennifer Pak discusses how Chinese society is actively manifesting that dream. Your donation powers the journalism you rely on. Give today to support Marketplace Morning Report.
From the BBC World Service: The Taliban government in Afghanistan is appealing for more international support as the country struggles to cope with yesterday’s devastating earthquake. The European Union is expected to approve Ukraine as a candidate for membership of the bloc. And French President Emmanuel Macron has lost his majority in parliament, so what next for his economic agenda? Your donation powers the journalism you rely on. Give today to support Marketplace Morning Report.
Sell-offs in the market for cryptocurrencies like bitcoin and ethereum continued this week. The rout followed another shock in May, when the value of terraUSD, a popular “stablecoin,” crashed. Stablecoins are supposed to have stable value tied to the U.S. dollar, which is why crypto traders use them to move money around this volatile market. But when terraUSD crashed, it wasn’t just traders who were hurt. Thousands of small investors were caught up in the meltdown, including people who put their money in Stablegains — a now-defunct crypto savings account company that promised returns of up to 15%. Marketplace’s Matt Levin recently spoke to some of those people. He told Meghan McCarty Carino they’re not the typical crypto investors you might think of and explained why they put their money into crypto in the first place. Your donation powers the journalism you rely on. Give today to support “Marketplace Tech.”
Recessions are on lots of people’s minds these days, including Jerome Powell’s. The Federal Reserve chief told Congress on Wednesday that a recession is a “possibility” as the Fed tries to tame inflation. So today, a listener wonders whether recessions are inevitable in our modern economy. We’ll break it down. Plus, we take more of your questions about the effectiveness of gas boycotts, why the Sunshine State — Florida — isn’t leading on solar energy and Kimberly’s favorite cocktail ingredient, bitters! Here’s everything we talked about today: FAQs on recessions from the National Bureau of Economic Research “Odds of a recession rising but vary widely” from Marketplace “Why isn’t the Sunshine State the leader in using solar power?” from The Sun-Sentinel “Would a Gas Boycott Actually Lower Prices at the Pump?” from Money magazine “
Let’s state the obvious: The pandemic is definitively not over. But plenty of larger companies are rolling back COVID restrictions and signaling the end is near. Today, we delve into how corporations make those decisions and how they shape the public’s pandemic mindset. Plus, the future of commission-free stock trading, the ripple effects of pilot shortages and the incarcerated youths who fight wildfires. Your donation powers the journalism you rely on. Give today to support Marketplace.
The agriculture industry is feeling the effects of a heat wave making its way across the country. China correspondent Jennifer Pak provides another update from Shanghai, which is shaking off the effects of a long COVID lockdown. Meta and the Department of Justice have reached a settlement regarding its housing-related advertising.
A recent report shows that tech companies – many who have been at the forefront of climate action – could actually be aiding the expansion of the fossil fuel industry through their significant bank deposits. Bill McKibben, a longtime environmental activist and founder of the new climate advocacy group Third Act, helps us dive into what this means. President Biden is officially supporting a three-month suspension of the federal fuel tax to ease the pain at the pump. A group of renewable energy developers is ready to buy $6 billion in solar panels … if they’re American made.
From the BBC World Service: As its economy falters, Turkey welcomes the Saudi Crown Prince Mohammed bin Salman for the first time since the 2018 murder of Saudi journalist Jamal Khashoggi in Istanbul. As the world gears up for the soccer World Cup in Qatar, a migrant worker who helped build its infrastructure speaks out about his treatment. And the Glastonbury Music Festival is back for the first time since the start of the pandemic.
Of the futuristic technology we see in movies and television, few have the appeal — and the sense of being tantalizingly close — as self-driving or autonomous vehicles. Today, we have cars and trucks with some autonomous or driver-assist features, but they aren’t quite the promise of the driverless cars we see in science fiction. The conversations about this mostly revolve around passenger cars navigating in cities, which still depend on a person who can take the wheel in case the computers crash and the technology fails. But perhaps we are a bit closer to that futuristic scenario when it comes to self-driving semitrucks. Marketplace’s Kimberly Adams speaks with Christopher Mims, a tech reporter at The Wall Street Journal. He recently wrote about the specialized technology behind autonomous big rigs.
The stakes are high for the Federal Reserve as it hikes interest rates in its effort to tame rising prices. Getting it wrong could spawn a recession. But different economists use different models to predict the likelihood, magnitude and timing of an economic downturn — so estimates are all over the map. Later on today’s show: a breakfast table breakup, competition among real estate agents and lessons from pandemic-era career shifts.
Inflation is the economic story of the day. And, even though it’s been percolating for over a year, last week the inflation story kicked into high gear with the Federal Reserve making big moves to get rising prices under control. So what changed, exactly? For starters, a combination of reports showing the worse of inflation isn’t over and that consumers expect inflation to keep rising. “And so, that was one of the reasons why we saw the Fed do, a bigger rate hike than they were originally expecting, said Victoria Guida, who covers the Federal Reserve for Politico. “It wasn’t just because they wanted to get interest rates up faster, it was also sort of a message to the American public: ‘Hey, we’re really serious about getting inflation back down. So, you know, don’t get it into your heads that inflation is going to stay this high forever.'” On the show today: How the Fed miscalculated inflation, and why we may not know how well the Fed navigated this moment until years down the road. Plus, we’ll answer a couple of your inflation questions. Later, we’ll discuss how companies are responding to inflation and the scale of China’s surveillance state. Then, if you have a hard time remembering the weather in Celsius, a listener shares a hack that’ll make you sound smart in front of your friends. And an answer to the Make Me Smart question that has many of us nodding along. Here’s everything we talked about today: “Failure ‘not an option’: Fed vows all-out fight on inflation” from Politico “On Inflation, Economics Has Some Explaining to Do” from The Wall Street Journal “Recession-Fearing Bosses Quietly Abandon Open Jobs” from Bloomberg “China’s Surveillance State Is Growing. These Documents Reveal How.” from The New York Times “Greitens ‘RINO hunting’ ad gets attention and condemnation” from St. Louis Public Radio Join us tomorrow for Whaddya Wanna Know Wednesday. And if you’ve got a question you’d like us to answer in a future show, email us at email@example.com or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.
The appointee is Marilynn Malerba, chief of the Mohegan Tribe of Connecticut. In her new role, Malerba will have the distinction of being the first Native American whose name will appear on U.S. currency. Lindsey Piegza of Stifel Financial joins us to discuss the markets. Homebuyers are still paying top dollar to live in high-tier school districts.
A new study from the Wharton School of the University of Pennsylvania finds that 47.7% of workers are not covered by a retirement plan at work. The data also shows disparities based on race, gender, and education. Senior economics contributor Chris Farrell helps break down some of the information. President Biden is considering the suspension of the federal gas tax. The BBC reports on a massive workers strike that has halted railways in the U.K.
From the BBC World Service: Russia summons the EU ambassador after Lithuania’s blocks goods travelling by rail to Kaliningrad – a Russian exclave on the Baltic Sea. British train schedules are thrown into chaos this morning by the biggest strike of railways workers in three decades. And Thailand has recently legalized cannabis, sparking a boom in related businesses.
Bridget gets to know her new co-host, Ryan, who has a lot of fun ideas but doesn’t know much about money. They’ll work together on a question that quite a few listeners were wondering about: What are credit cards, besides little pieces of plastic with chips in them? Together, we’ll learn how grown-ups use credit cards and some potential pitfalls of swiping. Then things really get out of hand when the ghost pirates show up. For a special cartoon, discussion questions and tips for parents, check out our website!
The French carmaker Renault had a surprise success in the early 2000s, when a low-cost car it designed for developing countries, the Logan, was a hit with low-income people in France. That car is still a strong brand for Renault almost two decades later. And the company boasts that a new Logan costs as much as a used car from other manufacturers. Now, a former Renault designer is developing a new car, the Gazelle, that's even more radical: an electric vehicle that's not just low-cost to produce and purchase, but it’s also pretty easy to assemble. In the Bordeaux region of of France, John Laurenson took a ride in this low-tech car.
Juneteenth commemorates the day enslaved Black Texans were informed of the Emancipation Proclamation, though it was years late. While the emancipation from slavery is nearly 160 years old, the economic emancipation of Black Americans is ongoing. Today, we’ll take a look at the structural and legal barriers that have prevented Black Americans from building wealth and what can be done to correct it. Plus, the still-hot housing market and the shortage of summer school teachers.
Released plans from Fannie Mae and Freddie Mac – the mortgage corporations backed by the government – target housing barriers in underserved communities. Julia Coronado drops in how the notion that crypto is a hedge against inflation has taken a hit. In the Netherlands, we take a look at how structures are being built with organic materials.
Cryptocurrency has had a rough ride over the weekend. Bitcoin dropped below a benchmark level on Saturday, then bounced back Sunday. Other cryptocurrencies have dropped as well. Part of the selloff deals with recession fears, but we discuss what else could happen. The surge in interest seen in Black-owned bookstores since the uproar over George Floyd’s 2020 murder has started to dissipate. Diabetics are sharing medicine and other items with each other due to the high price of insulin.
From the BBC World Service: Gustavo Petro, a former rebel fighter and now the president-elect of Colombia, has promised real economic change after winning 55% of the vote in Sunday’s election. A team from the International Monetary Fund has arrived in Sri Lanka and will begin talks today on the country’s dire economic crisis. In central Africa, there are fears that uncontrolled development is endangering one of the world’s largest peatlands – boggy territory that captures billions of tons of carbon dioxide.
This episode originally aired on May 3, 2022. Video games are more technologically sophisticated than ever these days — virtual reality headsets, augmented reality integration and some of the most powerful and realistic graphics yet. At the end of the day, a good, innovative video game needs one important element. According to industry veteran Reggie Fils-Aimé, former president of Nintendo of America, it's simply to make the game good and fun. Fils-Aimé retired in 2019 but reflects on these ideas and his history of disrupting the gaming sector in his new autobiography, “Disrupting the Game: From the Bronx to the Top of Nintendo.”
Today we’re looking ahead to next week, when kids 6 months to 5 years old should finally get access to a COVID vaccine. It’s giving us spring 2021 flashbacks. Then we’ll touch on the latest in rising infla — HEY, PAY ATTENTION, THIS IS IMPORTANT! Plus, climate change and the significance of corporate America speaking out about the threats to our democracy. We’ll wrap up the week with a round of our favorite game, Half Full / Half Empty. Here’s everything we talked about today: “Why some parents are skeptical about covid vaccines for young children” from The Washington Post WMO Weather Reports 2050 – France “Fed Raises Interest Rates In Effort To — Hey, Pay Attention, This Is Important!” from The Onion “Bill Gates says crypto and NFTs are a sham” from CNN “Squid Game” Reality TV Show Coming to Netflix from The Hollywood Reporter “Pardon Me, Do You Have Any Grey Poupon Ice Cream? The Dijon Mustard-Flavored Treat Is Now Available Nationwide” from Food & Wine magazine “U.K. weighs whether to restore its old system of imperial measurements” from Marketplace “Does this AI know it’s alive?” from Vox We’ll be off Monday to observe Juneteenth. Join us Tuesday for a deep dive about inflation. In the meantime, keep sending your inflation- and non-inflation- related questions to firstname.lastname@example.org and (508) 827-6278 or (508) U-B-SMART.
After delta and omicron, employers' return-to-office plans have run into another hurdle: the price of gas. Plus, how the Federal Reserve is letting an “unsustainably hot” job market cool off; and Raphael Bostic, head of the Atlanta Fed, tells us he understands that inflation is “going to weigh on your psyche.”
As supply chain issues linger, ports on the West Coast are in the middle of renegotiating labor contracts with the union that represents dock workers. One major talking point: automation. It’s part of a length history of dock workers being wary of tech innovations that could threaten jobs. We look at how renewable energy is becoming more available in Texas, but faces an infrastructure in need of an update.
The Russia-Ukraine conflict has caused billions in economic damage to Ukraine. Many Western leaders suggest that money from seized or frozen Russian assets should held rebuild the country, but as Matthieu Favas of The Economist tells us, that’s much easier said than done. A wave of flight cancellations has burdened airlines once again. The BBC checks in regarding the World Trade Organization holding its first conference of ministers in five years.
From the BBC World Service: Senior EU officials are expected to give their recommendation today to grant Ukraine candidate status for membership, but several economic hurdles still stand in the country’s way. The World Trade Organization has held its first ministers’ conference in five years, reaching agreements on patent waivers for COVID vaccines and fishing. And as French voters return to the polls this weekend for the second round of parliamentary elections, we visit a struggling farmer who has staved off bankruptcy by opening a cabaret show in his barn.
One of the big players in the push to update tech industry regulations is the Federal Trade Commission, whose job is to protect consumers and promote competition in the economy. It’s been just over a year since Lina Khan took over as chair of the agency and about a month since the confirmation of a third Democrat, Alvaro Bedoya, to the five-member commission, which broke a prolonged deadlock at the agency. That means Khan has a fresh chance to advance her agenda. Marketplace’s Kimberly Adams recently spoke with Khan at her office and asked her about taking on Big Tech in the courts.
During today’s Jan. 6 committee hearing, we learned about the role former Vice President Mike Pence played in responding to the insurrection at the Capitol. On the show, the hosts breakdown some of the key testimony and look to history as a guide for what they hope might come next in the hearings. Plus, we’ll introduce you another TikTokker with ridiculous geolocating skills. And good news for the ship that inspired the film “The Goonies”! Here’s everything we talked about today: “The 16 most compelling lines from today’s January 6 committee hearing “ from CNN “Trump’s Campaign to Influence Vice President Pence” from C-SPAN Meet this Google Maps player “Legendary Spanish galleon shipwreck discovered on Oregon coast” from National Geographic “17th-Century Spanish Shipwreck Found Off Oregon Coast” from The Daily Beast If you’re watching the Jan. 6 hearings, tell us what your biggest takeaways have been so far. We're at email@example.com and (508) 827-6278 or (508) U-B-SMART.
Rising prices are a problem around the world, and dozens of central banks are hiking interest rates in response. Today, we delve into the global forces driving inflation and look at the countries most vulnerable to higher interest rates and recessions. Later in the program: a housing market that may be cooling, a patent system that irks inventors and rising costs that challenge schools’ creditworthiness.
Adam had worked his way up to manager at a branch of a global bank, only to see his responsibilities double during the pandemic. After trying to make it work, the extra duties without extra pay began to compromise his well-being. Adam decided to slow down — to do only what he physically and mentally could without overworking himself. In this episode, we’ll look at what happens when workers slow down and explore the historical precedent for reclaiming your body and time at work. If you liked this episode, share it with a friend. And to get even more Uncomfortable, subscribe to our newsletter. Each Friday you'll get a note from Reema Khrais and some recs from the Uncomfortable team. If you missed it, here's the latest issue.
Fresh off the Fed’s interest rate hike, we look at how the federal funds rate – which affects consumer debt – could impact monthly payments on things like car loans and mortgages. Bear markets are a harrowing time for everyone, but especially nonprofits. Michael Schumacher of Wells Fargo discusses market activity with us.
Juneteenth is a powerful day in history that marks the end of slavery in this country. However, big companies have been criticized for commercializing the holiday. We speak with Jeanine Poggi of Ad Age on how companies have missed the mark and what they should consider going forward. The Fed’s interest rate hike of three quarters of a percentage point raises questions of what’s next, not only for the Fed, but for the economy.
France’s president, as well as leaders from Germany, Italy, and Romania, are in Kyiv to meet their Ukrainian counterpart. Volodymyr Zelenskyy is expected to push the EU leaders to speed up military aid. The plunge in Bitcoin’s value has so far done little to change monetary policy in El Salvador, where it’s accepted in everyday transactions. And as nearly half of Afghans go hungry, even scraps of stale bread are an important commodity to be bought and sold in Kabul markets.
This week, 14 high school students presented their research projects at the Bio International Convention in San Diego. Some focused on medical technology, others on environmental solutions. One student presented a new volatile compound made from beer that he says will benefit honeybee colonies. The students competed for cash prizes of up to $7,500. “Marketplace Tech's” Amanda Peacher followed one 16-year-old winner who traveled from Pennsylvania to showcase his project.
The Federal Reserve raised interest rates today by the largest amount since 1994 to try to get inflation under control. One of our listeners is wondering what the average consumer can do to keep inflation at bay. We’ll offer a potential solution. Plus, we tackle your questions about rent control, private equity and the costs of all those canceled flights. Here’s everything we talked about today: “Federal Reserve attacks inflation with its largest rate hike since 1994” from Marketplace “Private equity will buy up companies to the tune of $1 trillion this year” from Marketplace Private equity explained “How Private Equity Looted America” from Mother Jones “It’s a pain to fly these days. The FAA and airlines are trying to fix that” from CNBC If you’ve got a question for us, send it to firstname.lastname@example.org and (508) 827-6278 or (508) U-B-SMART.
Today, the Federal Reserve hiked its key interest rate by three-quarters of a percentage point — the biggest increase since 1994. The move will come with some pain for consumers as the Fed tries to slow the economy and get Americans to spend less. But, if retail sales offer any insight, that may already be happening. Plus, an oil demand forecast and a new Department of Education position.
The Senate bipartisan agreement for a framework on gun control includes increasing the ability of states to enact “red flag laws.” We examine what those are, and how they’re supposed to work. New York lawmakers have set their sights on slowing down crypto mining. The BBC’s Victoria Craig checks in regarding the emergency meeting of the European Central Bank.
It's the day markets have been waiting for: The Federal Reserve policy-making committee wraps up two days of meetings. The central bank's latest moves on interest rates are expected to be known in the afternoon. China correspondent Jennifer Pak details some of the struggles of Shanghai residents as the city emerges from its lengthy COVID lockdown. The landscape of school security continues to change following the mass shooting in Texas.
From the BBC World Service: Less than a week after its last policy decision, the European Central Bank’s governing council is meeting to discuss a selloff in the regional bond market. Egypt signs a provisional deal on natural gas exports with Israel and the European Union. And the news that K-pop superstars BTS are taking some time off has broken hearts around the world – and sent shares in their record label down as much as 28%.