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Economic anxiety rises as signs of price hikes and supply chain trouble surface. Then, Trump offers private dinner invitations in exchange for investments in his cryptocurrency. And, Florida's push to weaken child labor laws. Peter Baker, Neil Irwin, Angelo Carusone, Bharat Ramamurti, Barbara McQuade, Seth Harris, and Nina Mast join The 11th Hour this Thursday.
Economists, Wall Street traders — really, anyone who has a stake in the health of the U.S. economy — are all holding their breaths right now ahead of President Donald Trump's planned ‘Liberation Day' Wednesday. That's when he's promised to put in place a slew of new tariffs on imported goods from all over the world. But the scope of Trump's plans is still unclear, and that's injecting a ton of uncertainty into an already uncertain economy, all while polls show voters are losing confidence in the president's ability to bring down prices. Neil Irwin, chief economic correspondent for Axios, explains what Trump's murky tariff plans could mean for average Americans.And in headlines: Republicans sweat over a pair of special Congressional elections in Florida today, the Trump administration said it deported more alleged gang members to El Salvador, and Attorney General Pam Bondi told the Justice Department to drop a Biden-era lawsuit against a Georgia voting law.Show Notes:Check out Neil's work – www.axios.com/authors/nirwinSubscribe to the What A Day Newsletter – https://tinyurl.com/3kk4nyz8What A Day – YouTube – https://www.youtube.com/@whatadaypodcastFollow us on Instagram – https://www.instagram.com/crookedmedia/For a transcript of this episode, please visit crooked.com/whataday
A stagnant economy plus inflation leads to "stag-flation" a term coined in the 70s. Neil Irwin from Axios explains the fears facing economists for this year to Megan Lynch.
The Federal Reserve is shifting its focus from inflation to a slowing job market, signaling the start of a new economic era. This week on What's at Stake, hosts Bryan DeAngelis and Ylan Mui talk to Neil Irwin, chief economic correspondent at Axios, about the impact that the Fed's first rate cut in four years will have across the economy—and perhaps even on the November elections.
The U.S. Supreme Court will hear arguments in a consequential case that will determine Donald Trump's eligibility to remain on the ballot. Meanwhile, Senate Republicans kill the bipartisan border bill after Trump opposes it. Self-inflicted GOP defeats fuel dysfunction on Capitol Hill. Ankush Khardori, Carol Leonnig, Jon Allen, Sen. Jeff Merkley, Mike Zamore, Maria T Kumar, Reed Galen, and Neil Irwin join.
Indigenous leaders are helming efforts to tackle the world's problems, from climate change to violence against women. And Fawn Sharp, Vice President of the Quinault Indian Nation and former President of the National Congress of American Indians, says "the world is starting to recognize they need us more than we need them." Niala Boodhoo sat down with Fawn in Davos, Switzerland at the annual World Economic Forum to talk about why Indigenous leadership matters now. Plus: Axios' Neil Irwin with a reality check on the World Economic Forum and the themes from this year's gathering. Guests: Fawn Sharp, vice president of the Quinault Indian Nation, former president of the National Congress of American Indians, and Indigenous Co-Chair for the World Economic Forum; Neil Irwin, Axios chief economic correspondent. Credits: 1 big thing is produced by Niala Boodhoo, Alexandra Botti, and Jay Cowit. Music is composed by Alex Sugiura. You can reach us at podcasts@axios.com. You can send questions, comments and story ideas as a text or voice memo to Niala at 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
Federal Reserve Chair Jerome Powell said at the Jackson Hole Economic Symposium in Wyoming on Friday that inflation remains too high. He added that the central bank is prepared to raise interest rates further in the coming months. The big picture: Mortgage rates are already at a two-decade high and so far this year has had a record number of media layoffs. Why does this strong economy feel so weak in some areas? Plus, a racially motivated shooting in Jacksonville leaves three dead. Tropical Storm Idalia eyes Florida. Guests: Axios' Neil Irwin and Ina Fried. Credits: Axios Today was produced by Niala Boodhoo, Alexandra Botti, Fonda Mwangi, Robin Linn and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can send questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
Love it or hate it, this is President Biden's economy and he's taking credit for it. In recent weeks, Biden has been rolling out his economic pitch to Americans. It started with a high-profile speech in Chicago where he branded his policies as “Bidenomics” and positioned them in opposition to trickle-down “Reaganomics.” Since then, Biden and his campaign surrogates have fanned out across the country to make their pitch. This is coming at a time when Americans are quite pessimistic about the economy. In recent polls, less than a third of Americans say the economy is good. But still, economic data paints a relatively strong picture. The unemployment rate -- according to data out last Friday -- stands at 3.6 percent. That's close to a 50-year low. And inflation, although it remains somewhat high, has fallen to 4 percent from a high of 9 percent last summer. In this installment of the podcast, Galen speaks with Jeanna Smialek, who covers the Federal Reserve and economy for the New York Times, and Neil Irwin, chief economic correspondent for Axios. They discuss how much of Biden's approach to economic policy is actually new, what it looks like on the ground and why Americans are so pessimistic. Learn more about your ad choices. Visit megaphone.fm/adchoices
Join us for a special edition of the Macrocast! On this week's episode, Ylan and Brendan are joined by Neil Irwin, chief economic correspondent at Axios and author of "The Alchemists: Three Central Bankers and a World on Fire" and "How to Win in a Winner-Take-All World: The Definitive Guide to Adapting and Succeeding in High-Performance Careers."The trio discuss the latest jobs report, the recent ADP National Employment Report, Secretary Yellen's recent visit to China, and more. Tune in!Read Penta's latest Jobs report.For more insights check out Neil's books, "The Alchemists: Three Central Bankers and a World on Fire" and "How to Win in a Winner-Take-All World: The Definitive Guide to Adapting and Succeeding in High-Performance Careers."
There's been a lot of worry about the U.S. economy for months, but things really haven't fallen apart, at least not yet. We get a reality check on the state of the economy. Plus, why some states are banning Chinese homebuyers. And, more than a million people are being pushed off Medicaid rolls. Guests: Axios' Han Chen, Neil Irwin, and Adriel Bettelheim. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Fonda Mwangi, Robin Linn and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: "Timex economy" just keeps on ticking States seek to bar Chinese citizens from buying homes More than 725K pushed off Medicaid rolls by redeterminations Learn more about your ad choices. Visit megaphone.fm/adchoices
TikTok said it has more than 150 million monthly U.S. users. The Chinese-owned video sharing app is on the hot seat on Capitol Hill this week. As lawmakers grapple with the app's consumer privacy and data security practices. Plus, what's at stake with today's Fed announcement. And, evictions return to pre-pandemic levels. Guests: Axios' Sara Fischer, Alex Fitzpatrick and Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Fonda Mwangi and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: TikTok's size complicates U.S. ban threat TikTok bans spread globally Evictions have returned to — or exceeded — pre-pandemic levels Learn more about your ad choices. Visit megaphone.fm/adchoices
Financial shockwaves rippled across the country this week following two bank failures. Plus, tension between the U.S. and Russia is on the rise after a Russian fighter jet intentionally engaged with a U.S. drone. Join guest moderator William Brangham, Neil Irwin of Axios, Fin Gomez of CBS News, Zolan Kanno-Youngs of The New York Times and Kayla Tausche of CNBC to discuss this and more.
After a weekend of speculation and anxiety following the collapse of Silicon Valley Bank, federal banking regulators on Sunday night determined that FDIC insurance funds will be used to protect Silicon Valley Bank depositors from losing their money. Plus, China gets a major diplomatic win. And, atmospheric rivers bring more rain, snow and flooding to California. Guests: Axios' Neil Irwin, Felix Salmon and Bethany Allen-Ebrahimian. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Naomi Shavin, Fonda Mwangi and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: U.S. protects Silicon Valley Bank depositors Iran and Saudi Arabia agree to resume relations after China mediation What is an atmospheric river? Weather event behind California floods, record snow Learn more about your ad choices. Visit megaphone.fm/adchoices
Protests in Israel have intensified over the last nine weeks against Prime Minister Benjamin Netanyahu's plans to reform the courts. This weekend, hundreds of thousands took to the streets. Meanwhile, Israel and the U.S. are looking ahead to two high-profile visits, adding urgency to the situation this week. Plus, an economic mystery for 2023. Guests: Axios' Barak Ravid and Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Naomi Shavin, and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: U.S. considering denying Israeli minister visa after call to "wipe out" Hawara Scoop: Austin to visit Israel next week as tensions in West Bank intensify Why rate hikes haven't affected the economy more Learn more about your ad choices. Visit megaphone.fm/adchoices
The United Nations projects India is set to surpass China as the world's most populous country this year, while the U.S. on the other hand needs more people to avoid big economic problems. Plus, the week in politics: RNC elections and more. And, five fired Memphis police officers are charged with murder. Guests: Axios' David Lindsey, Han Chen and Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Naomi Shavin, Fonda Mwangi and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: "They are all responsible": 5 ex-cops involved in Tyre Nichols' arrest charged with murder, DA says India to become most populous nation — bringing opportunities and challenges DeSantis calls for "new blood" at RNC Learn more about your ad choices. Visit megaphone.fm/adchoices
The new Republican-led House will vote for a speaker today. But even after offering concessions, Rep. Kevin McCarthy still doesn't seem to have the support he needs from his fellow lawmakers to take the spot. Plus, the economic outlook for 2023. And, new state laws on wages and on marijuana. Guests: Axios' Neil Irwin and Alayna Treene. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Fonda Mwangi and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: McCarthy still short on votes in bid to become speaker New state laws kick in for abortion, minimum wage, drugs in 2023 Axios Macro Learn more about your ad choices. Visit megaphone.fm/adchoices
President Biden is holding his first state dinner Thursday night at the White House, to welcome French President Emmanuel Macron. But more than a time to wine and dine, the visit will be an opportunity for the two presidents to discuss a number of critical issues. Plus, promising results for a new Alzheimer's drug. And, how Boomers are making inflation worse. Guests: Axios' Dave Lawler, Neil Irwin, and Oriana González. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Robin Linn, Amy Pedulla, Fonda Mwangi and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Biden to host France's Macron for first state visit of his admin How an aging population makes inflation worse New Alzheimer's drug faces uncertain regulatory path Learn more about your ad choices. Visit megaphone.fm/adchoices
Democrats and Republicans are gearing up for their final weeks before the midterm elections. Voters in Georgia are already casting their ballots in higher numbers than they did for the 2018 midterms elections. As of Thursday, the fourth day of early voting in the state, over 430,000 people had voted, which is more than 60% increase from 2018. That's according to the Georgia Secretary of State. Plus, the exit of British Prime Minister Liz Truss reminds us why government deficits actually matter. Guests: Axios' Margaret Talev, Hans Nichols and Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Robin Linn, Lydia McMullen-Laird, Fonda Mwangi, and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Democrats need Black and Latino vote to win tight midterm elections How hidden financial risks brought down Liz Truss Liz Truss just became the U.K.'s shortest-tenured PM Learn more about your ad choices. Visit megaphone.fm/adchoices
While everyone has been watching inflation closely, Thursday's Consumer Price Index is especially important for millions of retirees and others who depend on Social Security benefits. That's because the annual cost of living adjustment for 2023 is based on the September monthly CPI number. Given that we've already seen inflation increase 8.2 percent over the past year, it's likely that we'll see one of the biggest increases in Social Security checks in more than 40 years. Plus, Detroit's $7 million investment in audio surveillance technology for police. And, another sign of the pandemic's effect on high school seniors. Guests: Axios' Neil Irwin and Sam Robinson. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Lydia McMullen-Laird, Fonda Mwangi, Ben O'Brien and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Social Security payments set for biggest increase in decades Detroit City Council approves $7M to expand ShotSpotter ACT test scores fall to lowest levels since 1991 Learn more about your ad choices. Visit megaphone.fm/adchoices
Central banks all over the world are on a interest-raising spree. We’ll explain why that raises the risk of a recession. Buckle up, folks! Plus, how a volcano eruption led to the discovery of a new island in the Pacific Ocean. And Kimberly Adams gives us a lesson in pawpaw fruit harvesting! Here’s everything we talked about today: “A New Baby Island Has Just Been Born In The Pacific Ocean” from IFL Science “New 6-Acre Island in Pacific Ocean Has Been Seen From Space” from Newsweek Video: Disney Music “Lava” (Official Lyric Video from “Lava”) Tweet from economist @Neil_Irwin “Move Over, Açai—It's the Pawpaw's Time” from The New Yorker Got a question for a our hosts? Email us at makemesmart@marketplace.org or leave us a voice message at 508-U-B-SMART.
Central banks all over the world are on a interest-raising spree. We’ll explain why that raises the risk of a recession. Buckle up, folks! Plus, how a volcano eruption led to the discovery of a new island in the Pacific Ocean. And Kimberly Adams gives us a lesson in pawpaw fruit harvesting! Here’s everything we talked about today: “A New Baby Island Has Just Been Born In The Pacific Ocean” from IFL Science “New 6-Acre Island in Pacific Ocean Has Been Seen From Space” from Newsweek Video: Disney Music “Lava” (Official Lyric Video from “Lava”) Tweet from economist @Neil_Irwin “Move Over, Açai—It's the Pawpaw's Time” from The New Yorker Got a question for a our hosts? Email us at makemesmart@marketplace.org or leave us a voice message at 508-U-B-SMART.
The endpoints don't matter.It's all about the dance in between.Check The Lead-Lag Report on your favorite social networks.Twitter: https://twitter.com/leadlagreportYouTube: https://www.youtube.com/c/theleadlagreportFacebook: https://www.facebook.com/leadlagreportInstagram: https://instagram.com/leadlagreport Sign up for The Lead-Lag Report at www.leadlagreport.com and use promo code PODCAST30 for 2 weeks free and 30% off. Nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions.See disclosures for The Lead-Lag Report here: The Lead-Lag Report (leadlagreport.com)The Future Is FreelanceThis show is for freelancers, sole traders, solopreneurs, digital nomads, consultants,...Listen on: Apple Podcasts Spotify UNBOUND: Saybrook Insights with President Nathan LongSaybrook Insights is a podcast featuring education & community innovators! Listen on: Apple Podcasts Spotify The Digital Distillery - A Travel Guide to Digital Media & MarketingThe Digital Distillery takes place all across Europe, bringing together some of the...Listen on: Apple Podcasts Spotify
This is an exciting time to be Fed Watching and no one is doing it better than Neil Irwin, who joins the show today to talk about Jackson Hole, the ups and downs since, what comes next for the central bank, and a behind the scenes look at the creation of the Axios Macro daily newsletter. Newsletter: Axios Macro w/@Courtenay_Brown Book: The Alchemists: Three Central Bankers and a World on Fire Conference Panel: Cato Institute Monetary Conference Twitter: @Neil_Irwin and @KalebNygaard
The first updated coronavirus vaccines will be available as soon as the week after Labor Day. These will target the dominant strain of COVID-19 that's circulating in the U.S., in hopes of providing better protection than the vaccines we have now. Plus, the world's top economic experts say volatility is here to stay. And, women's sports are commanding bigger rights deals than ever. Guests: Axios' Adriel Bettelheim, Neil Irwin, and Sara Fischer. Credits: Axios Today is produced by Erica Pandey, Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Omicron booster shots are right around the corner The new Jackson Hole consensus: A more volatile world is here to stay Women's sports commanding bigger rights deals Learn more about your ad choices. Visit megaphone.fm/adchoices
The primaries this week solidified a stunning turnaround for Democrats in this election cycle, fueled by passion around the abortion rights issue. How much does that change the assumption that Republicans will run away with control of both the House and the Senate? And, Biden's student loan forgiveness plan splits Washington. Plus, all eyes on fed chair Jerome Powell ahead of Friday's speech from Jackson Hole. Guests: Axios' Margaret Talev and Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Democrats' stunning turnaround Democrats' student loan backlash Learn more about your ad choices. Visit megaphone.fm/adchoices
There are dozens of cases and investigations involving former President Donald Trump — and this week we saw developments in several. From his Mar-a-Lago home being searched by the FBI, to his pleading the fifth at a deposition in New York in a civil investigation. Plus: inflation may be cooling, but prices aren't. And: Wikipedia as a model for consensus in divided times. Guests: Ilya Marrtiz, NPR contributor and co-host of "Will Be Wild" podcast, and Axios' Neil Irwin. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Garland says he “personally approved” search warrant at Trump's residence What cooler inflation numbers mean Wikipedia blazes a trail to agreement in a divided world Learn more about your ad choices. Visit megaphone.fm/adchoices
The latest GDP numbers out yesterday showed a slowdown in the US economy for the second quarter in a row, pushing a lot of pundits and some news outlets to declare that the US is in a recession. But Fed chair Jerome Powell, President Biden and many economists say that's not the case. Plus: Kids in California can wake up a bit later for school this year…and other states are following suit. And: a new trend – edible utensils. Really. Guests: Axios' Neil Irwin, Hans Nichols and Jennifer Kingson. Credits: Axios Today is produced by Niala Boodhoo, Emily Peck, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Recession semantics aside, the new GDP numbers are bad Biden's recession juggling act California's crack-of-dawn school ban could set a national trend The next eco-friendly trend: Edible cups, spoons and straws Learn more about your ad choices. Visit megaphone.fm/adchoices
PODCAST ON JULY 26, 2022- TOMMY NATION POLITICS: "The Side-Step..." A RATHER INTERESTING SHOW WITH DIFFERENT MINDSETS AND VIEWS ON POLITICS SHOW NOTES: President Biden has a new headache: He can't avoid the debate over whether the U.S. is in a recession, but if he dwells on it, he may hasten the very slowdown he's desperate to avoid... In economics, psychology matters. If the country and consumers believe we're in a recession — even if we technically aren't — the economy will eventually slow down, turning Biden's inflation problem into a potential stagflation nightmare. Presidents can't talk their way out of an economic downturn, but they do have a unique ability to set the general tone of the country. Biden, like his predecessors, likes to accentuate positive economic data. But with a 9.1% inflation rate and potentially two quarters of negative GDP growth, Biden can't push the glass-half-full argument too far. His initial sanguine call on inflation — insisting it would be short-term — has already eroded some of his credibility. Driving the news: On Thursday, the Commerce Department will release the initial GDP numbers for the second quarter of 2022, with economists expecting a 0.5% increase. Still, there are plenty of worrying signs: the Atlanta Fed's "nowcast" model suggests GDP growth will come in at -1.6%. Biden officials have been pre-butting the numbers and challenging the yeoman's definition that a recession is two consecutive quarters of negative economic growth, as Axios' Neil Irwin reported last week. "Certainly, in terms of the technical definition, it is not a recession," Brian Deese, the director of the National Economic Council, said on CNN on Monday morning. What they're saying: Biden on Monday again downplayed the recession risk... "My hope is we go from this rapid growth to steady growth and so we'll see some coming down," he said. "But I don't think, God willing, we're going to see a recession," he said. "I'll be surprised." SHOW AND EPISODE SPONSERED BY: WWW.LIVERISHI.COM USE PROMO CODE: PATRIOTUNFILTERED FOR 20% OFF COMPLETE ORDER --- Send in a voice message: https://anchor.fm/savagedunfiltered/message Support this podcast: https://anchor.fm/savagedunfiltered/support
Second-quarter reports on the economy are coming in this week, as well as corporate financial results. The expectation is that gross domestic product will take a dip for the second consecutive quarter. But don’t start in with the R-word. Kai and Marketplace’s Amy Scott discuss why this isn’t a recession (seriously). We’ll also discuss some energy news from overseas, including Russia’s decision to restrict its supply of natural gas to Europe. And Kai’s got an opinion on teasers that are “too teasy.” Here’s everything we talked about on the show today: Axios correspondent Neil Irwin shared this tweet regarding “recession” coverage “Biden: ‘We’re not going to be in a recession’” from Axios “Russia cuts gas deliveries to Europe via Nord Stream 1” from The Financial Times “How London Paid a Record Price to Dodge a Blackout” from Bloomberg Marvel Studios' Black Panther: Wakanda Forever | Official Teaser “Joni Mitchell sings, steals show with surprise Newport Folk Festival concert” from NPR Have thoughts or questions for the show? Share them with us at makemesmart@marketplace.org or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.
Second-quarter reports on the economy are coming in this week, as well as corporate financial results. The expectation is that gross domestic product will take a dip for the second consecutive quarter. But don’t start in with the R-word. Kai and Marketplace’s Amy Scott discuss why this isn’t a recession (seriously). We’ll also discuss some energy news from overseas, including Russia’s decision to restrict its supply of natural gas to Europe. And Kai’s got an opinion on teasers that are “too teasy.” Here’s everything we talked about on the show today: Axios correspondent Neil Irwin shared this tweet regarding “recession” coverage “Biden: ‘We’re not going to be in a recession’” from Axios “Russia cuts gas deliveries to Europe via Nord Stream 1” from The Financial Times “How London Paid a Record Price to Dodge a Blackout” from Bloomberg Marvel Studios' Black Panther: Wakanda Forever | Official Teaser “Joni Mitchell sings, steals show with surprise Newport Folk Festival concert” from NPR Have thoughts or questions for the show? Share them with us at makemesmart@marketplace.org or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.
President Biden has a new headache: He can't avoid the debate over whether the U.S. is in a recession, but if he dwells on it, he may hasten the very slowdown he's desperate to avoid... In economics, psychology matters. If the country and consumers believe we're in a recession — even if we technically aren't — the economy will eventually slow down, turning Biden's inflation problem into a potential stagflation nightmare. Presidents can't talk their way out of an economic downturn, but they do have a unique ability to set the general tone of the country. Biden, like his predecessors, likes to accentuate positive economic data. But with a 9.1% inflation rate and potentially two quarters of negative GDP growth, Biden can't push the glass-half-full argument too far. His initial sanguine call on inflation — insisting it would be short-term — has already eroded some of his credibility. Driving the news: On Thursday, the Commerce Department will release the initial GDP numbers for the second quarter of 2022, with economists expecting a 0.5% increase. Still, there are plenty of worrying signs: the Atlanta Fed's "nowcast" model suggests GDP growth will come in at -1.6%. Biden officials have been pre-butting the numbers and challenging the yeoman's definition that a recession is two consecutive quarters of negative economic growth, as Axios' Neil Irwin reported last week. "Certainly, in terms of the technical definition, it is not a recession," Brian Deese, the director of the National Economic Council, said on CNN on Monday morning. What they're saying: Biden on Monday again downplayed the recession risk... "My hope is we go from this rapid growth to steady growth and so we'll see some coming down," he said. "But I don't think, God willing, we're going to see a recession," he said. "I'll be surprised." --- Support this podcast: https://anchor.fm/thomas-saulsberry/support
New June inflation numbers released Wednesday show the Consumer Price Index rose 9.1% since last year - the fastest annual pace since November 1981. To make matters worse, wages are not keeping up. Plus: the federal Immigration and Customs Enforcement agency is running out of money. And: the millennial friendship crisis. Guests: Axios' Neil Irwin, Stef Kight and Erica Pandey Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: America's inflation problem gets worse Scoop: ICE is short $345 million, poised to spend more than ever Axios Finish Line: Making friends Learn more about your ad choices. Visit megaphone.fm/adchoices
That's a question on a lot of people's minds right now. But, what does a recession look like when we have a strong labor market? Plus: a crucial week for detained WNBA star Brittney Griner. And: hope for the holy grail of coronavirus vaccines. Guests: Axios' Neil Irwin, and Errin Haines, editor-at-large for The 19th. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Americans no longer judge the economy by the unemployment rate, new paper finds Biden tells Cherelle Griner he's working to secure Brittney Griner's release FDA allows pharmacists to prescribe Paxlovid COVID treatment Pfizer to begin testing universal coronavirus vaccines Learn more about your ad choices. Visit megaphone.fm/adchoices
Interest rates are going up. In the most aggressive rate hike since 1994, the Federal Reserve yesterday agreed to raise interest rates three quarters of a percentage point. And Fed officials gave some indication of what they're expecting for our economy for the rest of the year. Plus, the Biden administration's order to protect LGBTQ rights And, an FDA panel endorses vaccines for our youngest children Guests: Axios' Neil Irwin and Orion Rummler, reporter at the 19th. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: Fed steps up campaign against inflation with 0.75 point rate hike Biden signs "historic" executive order to protect LGBTQ people Learn more about your ad choices. Visit megaphone.fm/adchoices
During the height of the pandemic, the nation's central bank, the Federal Reserve (aka The Fed), started a new round of bond purchases that swelled its portfolio of mortgage-backed securities to $2.7 trillion from $1.4 trillion it held in February 2020. That created ultra-low mortgage rates which heavily stimulated home buying and refinancing activity in America. To combat inflation, the Fed is now planning to let its holdings shrink as securities get paid off, writes Neil Irwin in his recent Axios post called “The Fed's $2.7 trillion mortgage problem.” The problem is that “[e]xtracting itself from this market risks crashing the housing industry and creating intense political blowback for incurring financial losses.” Irwin writes that the Fed's pandemic actions to loosen up capital unseized a market and fueled a housing boom, but the opposite reaction could lose U.S. taxpayers billions and be bad for housing. Since housing is 15% of the U.S. economy, these decisions will have major implications. Upzoned Host Abby Kinney asks her podcast guests, Strong Towns President Charles Marohn and Andrew Ganahl, an infill developer in Kansas City who used to work for the U.S. Treasury, to put it into perspective on this edition of the podcast. Additional Show Notes “The Fed's $2.7 trillion mortgage problem,” by Neil Irwin, Axios (May 2022). Abby Kinney (Twitter) Charles Marohn (Twitter) Theme Music by Kemet the Phantom.
TOPICS AND TIMESTAMPS: That Was Easy 0:00 Rate Hike 0:29 Taper Balance Sheet 2:58 Let's Analyze 5:32 Why? 7:45 Very Telling Quotes 10:04 Why? More 12:21 Cathie and Elon 13:11 Federal Reserve Board - Federal Reserve issues FOMC statement https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504a.htm Federal Reserve Board - Plans for Reducing the Size of the Federal Reserve's Balance Sheet https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504b.htm Powell Tells Americans Fed Will Fight Inflation - Bloomberg https://www.bloomberg.com/news/articles/2022-05-04/powell-vows-to-curb-inflation-with-hikes-that-risk-economic-pain?srnd=premium-canada (3) Neil Irwin on Twitter: "I'm surprised stocks are up so much in response to Powell taking 75bps off the table. Seemed to me that he basically affirmed the baseline of most mainstream Fed watchers (50 bps each the next couple of meetings) rather than sending some dovish signal." / Twitter https://twitter.com/Neil_Irwin/status/1521945695745462272 2022-05-04_10-13-57.jpg (897×493) https://cms.zerohedge.com/s3/files/inline-images/2022-05-04_10-13-57.jpg?itok=Oci8OtVm RBI repo rate: India central bank hikes interest rates after two years - BBC News https://www.bbc.com/news/world-asia-india-61317082#:~:text=The%20Reserve%20Bank%20of%20India,online%20media%20briefing%20on%20Wednesday.
Interviews with Axios' Neil Irwin on Federal Reserve's raising interest rates 0.5% to tame inflation (5) and The Hill's Rebecca Beitsch on DHS Misinformation Governance Board (24), and Gov. Larry Hogan (R-MD) at Reagan Presidential Library on the future of the Republican Party. Learn more about your ad choices. Visit megaphone.fm/adchoices
Our economic headlines have been dominated by inflation. And an update out Tuesday isn't looking good - we're expecting to have hit another 40-year high last month. But there is some good news that you might have missed in all of this - we're also seeing the lowest number of unemployment claims in 54 years. Plus, get ready for the summer of “revenge travel.” Guests: Axios' Neil Irwin and Joann Muller. Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Nuria Marquez Martinez, Alex Sugiura, Sabeena Singhani, and Lydia McMullen-Laird. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Amazing number: Fewest jobless claims in 54 years Get ready for a nasty inflation report The summer of "revenge travel" Learn more about your ad choices. Visit megaphone.fm/adchoices
As Russia continues to pummel Ukrainian cities, the war is coming dangerously close to spilling over into NATO countries. Yesterday, Russia launched a missile attack on a Ukrainian military base 15 miles from the Polish border that resulted in dozens of Ukrainian casualties. Plus, inflation heads toward double digits. And, Republicans make gains with Hispanic voters. Guests: Axios' Margaret Talev, Neil Irwin and Russell Contreras. Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Sabeena Singhani, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go deeper: Dashboard: Russian invasion of Ukraine Double-digit inflation is now quite plausible Democrats' Hispanic peril Learn more about your ad choices. Visit megaphone.fm/adchoices
Hello again, friends. Thank you for joining me for the second week of my Wealth and Poverty class. In today's class, we begin to explore why such inequalities have soared since the late 1970s and early 1980s. The questions we'll focus on today are: How did the market for financial capital contribute to inequalities of income and wealth? Did the accepted purpose of the American corporation change over the last fifty years, and, if so, when and how? More generally, for whom should the corporation exist? Is there such a thing as “corporate social responsibility?” You'll find recommended readings below the video. Just click on the links. Ready? Here we go. Please double-click the video box below. Thanks again for joining me! (And as always, let me know what you think in the comments below.) Click here for the Class 2 slides.Looking for another session? Click the link for: Class 1, Class 3, Class 4, Class 5, Class 6, Class 7, Class 8, Class 9, Class 10, Class 11, Class 12, Class 13, Class 14.P.S. If you're enjoying this course and think your friends, family, colleagues, or social media networks would find it interesting and helpful as well, please share!Select Readings:* Bethany McLean, “Too Big to Fail, COVID-19 Edition: How Private Equity Is Winning the Coronavirus Crisis,” Vanity Fair, April 9, 2020* Andrew Winston, “Is the Business Roundtable Statement Just Empty Rhetoric?” Harvard Business Review, August 30, 2019* Neil Irwin, “To Understand Rising Inequality, Consider the Janitors at Two Top Companies, Then and Now,” The New York Times, Sept. 3, 2017If you'd like to help support our efforts, please consider a paid or gift subscription. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe
As more people go back to in-person work, rush hour traffic has started to come back across the country. But the pandemic has changed the timing of our morning commutes. Plus, the new wave of global COVID protests. And, grading Trump's trade deal with China, two years later. Guests: Axios' Hans Nichols, Joann Muller, and Neil Irwin. Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Alex Sugiura, Sabeena Singhani, and Lydia McMullen-Laird. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
This week, a number of democratic governors announced that their states are dropping their mask mandates and ending some COVID restrictions. And at the same time, CDC guidance continues to recommend indoor masking. So what's driving the governors‘ decisions— politics or science? Plus, the inflation dilemma: be patient or cause a recession? And, the federal government rethinks facial recognition Guests: Axios' Mike Allen, Neil Irwin and Ina Fried. Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Margaret Talev, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Alex Sugiura, Sabeena Singhani, and Lydia McMullen-Laird. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
In January, nearly 9 million people missed work because they were sick with COVID or taking care of someone. That's why many, including President Biden, are bracing for disappointing January job numbers, which are released Friday morning. Plus, are we past the latest covid surge? And, roads that charge your electric car while you're driving on it. Guests: Axios' Neil Irwin, Sam Baker and Joann Muller. Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Sabeena Singhani, Lydia McMullen-Laird, and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
New numbers show prices rose faster within 2021 than they have in the last 40 years. Inflation hit 7% in December. Plus, schools are trying to cope with a shortage of bus drivers. And, Omicron and at-home COVID tests. Guests: Axios' Neil Irwin and Alissa Widman Neese; and Dr. Jennifer Nuzzo, epidemiologist at the Johns Hopkins COVID-19 Testing Insights Initiative Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Sabeena Singhani and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
When rioters stormed the U.S. Capitol on January 6th, 2021, Axios congressional reporter Alayna Treene was in the heart of it. Today, she reflects back. Plus, why the era of easy money is probably over. And, Tesla opens a showroom in a controversial region of China. Guests: Axios' Alayna Treene, Neil Irwin and Bethany Allen-Ebrahimian. Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Julia Redpath, Alexandra Botti, Nuria Marquez Martinez, Lydia McMullen-Laird, Sabeena Singhani and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Learn more about your ad choices. Visit megaphone.fm/adchoices
Last week I suggested that Trump maintains a hold on a large fraction of America because he fills a void created by a system that has left them behind. I followed with the question raised by Frank Capra's iconic film “It's a Wonderful Life,” in which the greedy Mr. Potter tries to take over Bedford Falls: Do we join together or let the Potters of America own and run everything?We're well on the way to the Potterizing of America. To take one example, the expanded child tax credit payments will end next week. (Biden's original “Build Back Better” package had extended it, but the package is on life support in the Senate.) Republican critics, including Senator Roy Blunt of Missouri, claim that the child tax credit has contributed to inflation by giving people more money to spend when the supply chain is already strained. “Moderate” Democrats, like Joe Manchin, think it's too expensive. Rubbish. The benefit is tiny compared with the economy. Yet its payments have reduced child poverty by nearly 30 percent and have helped the working class. They've reduced hunger and lowered financial stress, especially in rural states that received the most money per capita (such as Missouri and West Virginia). Families spent the money on essentials like groceries and stashed some away for emergency savings. Thanks for subscribing to my letter on the system. Please consider supporting this effort through a paid or gift subscription. Others (including a few prominent economists like Larry Summers) blame inflation on the government's pandemic spending, overall. In yesterday's New York Times, Neil Irwin wrote that because “the government tried overheating the economy” we now have “soaring prices and many goods in short supply. Inflation has reached its highest levels in four decades.”This misses the point. Expanded unemployment benefits ended in September (earlier in some states) and the last round of stimulus payments went out last spring. The spending was a great success story — keeping millions of Americans from falling into poverty. And it hasn't been the major cause of inflation. Still others (CEOs and business groups) blame inflation on wage increases. This is pure rubbish. Price increases are now running at 6.8 percent annually but wages are growing only between 3-4 percent. So real wages (what those wages can actually purchase) are actually declining for most Americans. This is why programs like the child tax credit and other government assistance are so important. The biggest single reason prices are rising is the concentration of the American economy into the hands of a few corporate giants with the power to raise prices. To be sure, supply bottlenecks have raised the prices corporations pay for some raw materials and components. But here's the most important thing: Instead of absorbing these costs, corporations are passing them on to customers in the form of higher prices. This is because most large corporations face little or no competition. If corporations in the same industry were competing vigorously against each other, they'd keep their prices as low as possible so as not to lose customers. They'd try to avoid passing increased costs to consumers in higher prices, for fear of losing customers to competitors that don't raise prices. They'd absorb the costs, and their profits would fall. The opposite is occurring. Corporations are raising prices even as they rake in record profits. Profit margins at large corporations are now at a 70-year high. Take a look at the following chart (from Bloomberg):Big corporations face so little competition they can raise prices with impunity. They simply coordinate their prices increases with the handful of other big corporations in the same industry, who are happy to oblige. That way, all of them stay highly profitable. Wall Street knows exactly what's going on. Big investors are pouring money into corporations with the power to raise prices. “What we really want to find are companies with pricing power,” Giorgio Caputo, senior portfolio manager at J O Hambro Capital Management told Bloomberg. “In an inflationary environment, that's the gift that keeps on giving because companies can pass along their pricing on the way up, and don't necessarily need to get it back on the way down” [emphasis added].The underlying problem isn't inflation per se. It's lack of competition. Corporations are using the excuse of inflation to raise prices and make fatter profits. (Matt Stoller, who has an excellent Substack on monopolization, calculates that 60 percent of the increase in inflation is going to corporate profits.)Blaming the child tax credit or pandemic assistance or wage increases is a cruel ruse that disguises what's really going on. This is what I mean when I say America has been Potterized: People at the top — top corporate executives and big investors — are doing better than ever. Everyone else is being squeezed. What should be done about all of this? For one thing, raise taxes on big corporations and the wealthy in order to finance all sorts of supports and public investments needed by the majority of Americans (such as the expanded child tax credit). At the very least, repeal the Trump tax cut for big corporations and the wealthy. But wait. Didn't we just try to do this? Yes, and not even a Congress controlled by Democrats could get it done. Why not? Because in Potterized America, big corporations and the super-wealthy not only have the power to raise prices. They also have the power to get Congress to cut their taxes — and keep them cut. Your thoughts? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe
As we move into the new year, we wanted to check in on a persistent economic condition that's likely to impact the U.S. and the globe: inflation. On Today's Show: Neil Irwin, chief economic correspondent at Axios, discusses how Reagan era Fed chairman Paul Volcker reduced high inflation 40 years ago by jacking up interest rates and muddling through a recession. With an almost opposite economic landscape leading into 2022, current Fed chair Jerome Powell might need to pull off a tricky reverse of that strategy.
Neil Irwin, chief economic correspondent at Axios, discusses how Reagan era Fed chairman Paul Volcker reduced high inflation 40 years ago by jacking up interest rates and muddling through a recession. With an almost opposite economic landscape leading into 2022, current Fed chair Jerome Powell might need to pull off a tricky reverse of that strategy.
Austria implementing a lockdown amid rising covid cases spooking overseas markets and reopening stocks, including the airlines and Boeing, here at home. This as the WSJ reports the company is slowing down 787 Dreamliner manufacturing…but one trader is sticking by the stock. He tells us why. Policymakers learned a lot from the Great Recession, but Neil Irwin, Senior Economics Correspondent at the New York Times, says they're misguided in applying them to the economic fallout from the pandemic. Plus, Cowen naming their topic retail picks ahead of the key holiday season—why department stores, sporting goods and yoga pants should be in your stocking this year.
After weeks of intense negotiations, the House approved the $1.2 trillion bipartisan infrastructure in a late Friday night vote. President Biden touted the key legislative win as a "once-in-a-generation investment" that rebuilds roads, bridges, railways and water pipes. Now, Democrats must sell the bill to the country ahead of next year's midterm elections. Plus, after wins in Virginia and a closer-than-expected race in New Jersey, Republicans say education and parents' rights are winning issues for 2022. And the unemployment rate is down, the stock market is up and employers added more than half a million new jobs last month - but why do Americans think the country is in bad economic shape? On today's panel: CNN's Jeff Zeleny, Margaret Talev of Axios, NPR's Asma Khalid, John Bresnahan of Punchbowl News and Neil Irwin of the New York Times. To learn more about how CNN protects listener privacy, visit cnn.com/privacy
To fund their reconciliation bill, Democrats have suggested a billionaires' tax, which could raise up to $250 billion. But the idea has faced opposition from Republicans and moderate Democrats. Lawmakers are also considering changing taxes on corporations. For more on the Democrats' plans to fund the bill, William Brangham is joined by Neil Irwin of The New York Times. PBS NewsHour is supported by - https://www.pbs.org/newshour/about/funders
To fund their reconciliation bill, Democrats have suggested a billionaires' tax, which could raise up to $250 billion. But the idea has faced opposition from Republicans and moderate Democrats. Lawmakers are also considering changing taxes on corporations. For more on the Democrats' plans to fund the bill, William Brangham is joined by Neil Irwin of The New York Times. PBS NewsHour is supported by - https://www.pbs.org/newshour/about/funders
Authors Glenn Hubbard & Tony O'Brien react to some of the fiscal and monetary implications of the infrastructure bill. They also talk about some economic impacts of the recent supply chain struggles. Here's Alan Cole's blog: https://fullstackeconomics.com/how-i-reluctantly-became-an-inflation-crank/; Neil Irwin wrote a column referencing Cole here: https://www.nytimes.com/2021/10/10/upshot/shadow-inflation-analysis.html; Here's a Times article on the inefficiency of subway construction in NYC: https://www.nytimes.com/2017/12/28/nyregion/new-york-subway-construction-costs.html; A recent article on the state of CA's bullet train: https://www.kcra.com/article/california-bullet-trains-latest-woe-high-speed/37954851; A WSJ column on goods v. services: https://www.wsj.com/articles/at-times-like-these-inflation-isnt-all-bad-11634290202
Adria Renke is the President of Brophy College Prep in Phoenix, Arizona, and has decades of experience in education. We have a wide ranging conversation about the importance of curiosity, organization and confidence in a young person's educational journey.Adria also has a interesting perspective on worldwide diversity and the role our schools can play in forming citizens of the world. And finally, we talk about the importance of belonging to a people and of learning a moral code in the educational experience. A quick editor's note. I mentioned two books in this podcast:The first is Leonardo da Vinci by Walter Isaacson. And the second is How to Win in a Winner-Take-All World by Neil Irwin.
The Biden administration’s first legislative priority is a $1.9 trillion economic rescue package. It’s the kind of mega-package where the individual policies contained inside it — a $15 minimum wage, $1,400 checks, a huge child tax credit expansion, a $50 billion virus testing infrastructure — would be big deals on their own. But together, this would be one of the most consequential packages ever passed.So there’s a lot to talk about here. And who better to talk about it with than my now-colleague Paul Krugman? We dig into the details of the plan and then spiral off into some other topics I wanted to run by the nearest Nobel laureate: the major rethinking of debt and deficits among left-of-center economists, the differences between Keynesians and Modern Monetary Theorists, how Krugman made a bunch of money off Bitcoin (it’s not how you’d think!), why progressives need a better theory of technological change, Krugman’s favorite indie bands of the mid-2000s, and more.References: “Notes on the Coronacoma (Wonkish)” by Paul Krugman“Why Markets Boomed in a Year of Human Misery” by Neil Irwin and Weiyi Cai“Who’s Afraid of Budget Deficits?” By Jason Furman and Lawrence Summers“Public Debt: Fiscal and Welfare Costs in a Time of Low Interest Rates” by Olivier Blanchard“America’s anti-democratic Senate, in one number” by Ian MillhiserBook recommendations: “Laundry Files” series by Charlie Stross“Merchant Princes” series by Charlie Stross“The Price of Peace” by Zachary CarterBand recommendations: The Be Good TanyasLarkin PoeReina del Cid(Tune in to find out why)Thoughts? Email us at ezrakleinshow@nytimes.com. New episodes every Tuesday and Friday.“The Ezra Klein Show” is produced by Roge Karma and Jeff Geld; fact-checking by Michelle Harris; original music by Isaac Jones; mixing by Jeff Geld.
Neil Irwin, a senior economic correspondent at The New York Times, joins Scott to discuss the economic learnings from the Trump-era, inflation, and his thoughts on the stimulus efforts. Neil is also the author of, “The Alchemists: Three Central Bankers and a World on Fire” and “How to Win in a Winner-Take-All World.” Follow him on Twitter, @Neil_Irwin. (18:22) Scott opens with why Twitter needs a new business model and details what strengths Twitter can leverage. Scott makes the case for new leadership at Twitter. This Week’s Office Hours: Bitcoin (46:36), Amazon platform sellers (51:17), and the future of story stocks (55:29). Have a question for Scott? Email a voice recording to officehours@section4.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
This week, Linda looks at the small print in Chancellor Rishi Sunak's statement setting out plans to help workers and businesses hit by new coronavirus restrictions. Tax expert Adrian Huston explains who is eligible. The cash question - does cash matter? Has Covid hastened the decline in the use of cash? Nick Quinn, head of Financial Inclusion for LINK,explains how cash transactions have changed in the last six months and how Millisle became a pilot area for future cash use! How are charities coping during this difficult time? Heather Monteverde of Macmillan Cancer NI, chats about changes to charity workforces during COVID and Neil Irwin from NI Fundraising on how the wider sector habeen impacted. Plus, a fine for parking on private land - one van driver who received a ticket, despite fitting into the car parking space...because it costs more to park a van....Mark Crawford from the Consumer Council on what to do if you get a fine. Email: OnYourBehalf@bbc.co.uk
Overall, Dean Emeritus Glenn Hubbard has been pleased with the government response to the economic crisis caused by the COVID-19 pandemic, noting the speed with which Congress and the administration passed the CARES Act. On this episode of Bizcast, however, Hubbard, the Russell L. Carson Professor of Finance and Economics and faculty director of the Chazen Institute for Global Business, offers a critique of the implementation of relief efforts by the Small Business Administration and Department of the Treasury. “Rather than pointing fingers though,” Hubbard says, “can we design something more effective so that we can just turn the switch on, if there is a next time? Hubbard also shares his views on funding state governments, tax reforms after the pandemic, and the future of international relationships in the aftermath of COVID-19. You can find more of Professor Hubbard’s thoughts on the economic impact of the pandemic here: his conversation with Nobel laureate Joseph Stiglitz; his interview with Neil Irwin ‘08 of The New York Times; his discussion on the role of political economy with professors Tano Santos and Ray Horton; and his panel with Japanese Minster Takeshi Komoto and Keiko Tashiro, deputy president of Daiwa Securities Group on the implications of COVID-19 on the US and Japanese economies. Is there anything you would like to tell us about your experience listening to Bizcast? Please fill out our audience survey at: bit.ly/BizcastSurvey Subscribe to Bizcast on iTunes, Spotify, Stitcher, or wherever you get your podcasts.
Bob tackles some Keynesian / MMT fallacies that have resurfaced in light of the response to the coronavirus. In particular, he responds to Larry Summers who viewed the lockdown as being akin to workers staying home over the weekend, and then to Neil Irwin on Twitter, who approvingly retweeted a thread arguing that it was mathematically *impossible* for state governments to have saved ahead of time in preparation. Mentioned in the Episode and Other Links of Interest: Bob's article (https://mises.org/wire/why-current-unemployment-worse-great-depression) , "Why the Current Unemployment Is Worse than the Great Depression." tweet thread (https://twitter.com/IrvingSwisher/status/1253343052816683010) from former Fed research assistant Amarnath, who claimed that it is literally impossible for us all to save more. Previous articles from Bob showing showing why the community can save more (https://mises.org/library/debt-necessary-recovery) on net. Sample issues (https://lara-murphy.com/lara-murphy-report/) of the Lara-Murphy Report. Help support (http://bobmurphyshow.com/contribute) the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (http://podsworth.com/) .
And what should the government response be? Diane talks with Neil Irwin, senior economics correspondent for The New York Times and author of the "Upshot" column.
Emily Bazelon, John Dickerson and David Plotz are joined by Dr. Amesh Adalja to discuss efforts to address the pandemic, journalist Neil Irwin on whether the U.S. economy can be saved, and author Jon Mooallem on his new book This is Chance! about communities uniting in a crisis. For this week’s Slate Plus bonus segment David challenges Emily and John to a surprise topic that invites them to examine their quirky private mental routines. Slate Plus members get a bonus segment on the Gabfest each week, and access to special bonus episodes throughout the year. Sign up now to listen and support our show. You can tweet suggestions, links, and questions to @SlateGabfest. Tweet us your cocktail chatter using #cocktailchatter or post it to our Facebook page. (Messages may be quoted by name unless the writer stipulates otherwise.) The email address for the Political Gabfest is gabfest@slate.com. (Email may be quoted by name unless the writer stipulates otherwise.) Podcast production by Jocelyn Frank. Research and show notes by Bridgette Dunlap. Learn more about your ad choices. Visit megaphone.fm/adchoices
Emily Bazelon, John Dickerson and David Plotz are joined by Dr. Amesh Adalja to discuss efforts to address the pandemic, journalist Neil Irwin on whether the U.S. economy can be saved, and author Jon Mooallem on his new book This is Chance! about communities uniting in a crisis. For this week’s Slate Plus bonus segment David challenges Emily and John to a surprise topic that invites them to examine their quirky private mental routines. Slate Plus members get a bonus segment on the Gabfest each week, and access to special bonus episodes throughout the year. Sign up now to listen and support our show. You can tweet suggestions, links, and questions to @SlateGabfest. Tweet us your cocktail chatter using #cocktailchatter or post it to our Facebook page. (Messages may be quoted by name unless the writer stipulates otherwise.) The email address for the Political Gabfest is gabfest@slate.com. (Email may be quoted by name unless the writer stipulates otherwise.) Podcast production by Jocelyn Frank. Research and show notes by Bridgette Dunlap. Learn more about your ad choices. Visit megaphone.fm/adchoices
Even after recent market volatility, supply shock, a surprise rate cut and a brewing oil war, COVID-19 has only just started to batter the American economy. It’s starting to look like the start of a real economic slowdown, even a recession. Does the government have the tools to avoid the worst? That’s something we’re still figuring out. Here to talk us through this and more is the New York Times’ Neil Irwin. Plus, we hear from a “Make Me Smart” listener in Venice, Italy.
Once again it’s the time of year for all kinds of financial predictions, many painting a gloomy picture of the future. Tom and Don specifically discuss Neil Irwin’s latest New York Times piece and more generally why we should not believe in the predictive power of perceived “experts.” The future is NOT foreseeable, but at best ‘foreguessable,’ and taking what thought-leaders say as financial gospel can land you in hot water. From there, they pivot to a discussion on rebalancing and timing, explaining why now would be an excellent time to rebalance your portfolio. Finally, they end the show with a discussion on how to educate future generations about investing and all that would go into ensuring the youth are financially fitRetiremeet: 2020 dates and phenomenal guest speakers!‘Tis the season for predictions: A critique of Neil Irwin’s New York Times article.Your guess is as good as mine: why guesses have no inherent value!The difference between rebalancing and timing and why this year is perfect for rebalancing.What a good financial advisor should do for you annually.Whether it is a good idea to buy additional years of service for increased pension in cash.Why and how to educate future generation on the value of investing.Financial Fysics on Amazon – https://www.amazon.com/Financial-Fysics-Money-Investing-Really/dp/1453898557Vestory — https://vestory.com/Retiremeet —http://www.retiremeet.com/Paul Merriman — https://paulmerriman.com/Apollo Lupescu on LinkedIn — https://www.linkedin.com/in/apollo-lupescu-78a3b87a/Woodbridge Group — https://www.woodbridgegroup.com/Robert Shapiro Woodbridge scandal — https://www.bloomberg.com/news/articles/2019-10-15/former-woodbridge-group-ceo-gets-25-years-in-1-3-billion-fraudYour Portfolio is Probably Doing Great article — https://www.nytimes.com/2019/11/27/upshot/stocks-portfolio-economy-future.htmlNeil Irwin — https://www.neilirwin.com/Neil Irwin on Twitter — https://twitter.com/Neil_IrwinAkane Otani — https://www.linkedin.com/in/akaneotani/Akane Otani in The Wall Street Journal — https://www.wsj.com/news/author/akane-otaniChuck Jaffe — http://moneylifeshow.com/
Staying on top of industry trends has never been more important. These days, changes come so often and happen so fast, it can start to feel like a full-time job. So how do you anticipate shifts and spot trends before they become standard practice in your field? And how do you use them to your advantage? In this episode, Dr. Julie Gurner talks to author and journalist Neil Irwin about how to capitalize in an evolving industry. Irwin is an expert who not only understands the ins and outs of the economic landscape, but also interprets and distills financial trends for an extensive audience. Download and subscribe to The Relentless: Apple Podcasts Stitcher Spotify TuneIn Overcast This paid podcast is produced by Slate Studios and Century 21 Real Estate. © 2019 Century 21 Real Estate LLC. All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are registered marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. This material may contain suggestions and best practices that you may use at your discretion. The opinions expressed in this podcast are those of the individuals featured and not necessarily of Century 21 Real Estate. Learn more about your ad choices. Visit megaphone.fm/adchoices
Staying on top of industry trends has never been more important. These days, changes come so often and happen so fast, it can start to feel like a full-time job. So how do you anticipate shifts and spot trends before they become standard practice in your field? And how do you use them to your advantage? In this episode, Dr. Julie Gurner talks to author and journalist Neil Irwin about how to capitalize in an evolving industry. Irwin is an expert who not only understands the ins and outs of the economic landscape, but also interprets and distills financial trends for an extensive audience. This paid podcast is produced by Slate Studios and Century 21 Real Estate. © 2019 Century 21 Real Estate LLC. All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are registered marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. This material may contain suggestions and best practices that you may use at your discretion. The opinions expressed in this podcast are those of the individuals featured and not necessarily of Century 21 Real Estate.
In Episode 25, we talk to New York Times Senior Economics Correspondent Neil Irwin about his book, How to Win in a Winner-Take-All World: The Definitive Guide to Adapting and Succeeding in High-Performance Careers. To write the book, Neil interviewed successful employees with companies in various industries–from Microsoft to a company running popular New York City eateries. He wanted to understand what made these people successful in the modern economy. An economy driven by automation, “gig” jobs and dominated by “winner take all” companies (companies that dominate an industry like Google, Facebook and Walmart). Neil figured out that the most successful professionals are “glue people.” People who can communicate across varying job types and roles. Glue people are effective communicators because they are flexible, held varying types of positions in their career and understand the economics of their company. What does this have to do with legal tech and legal innovation? Quite a bit. The legal industry is not immune to economic changes affecting other industries. Technology and automation are changing the way lawyers work. To be a successful lawyer nowadays, it takes exposure and skills outside traditional lawyering (like understanding project management and being tech savvy–or, being a “unicorn lawyer”). In his book, Neil ultimately concludes that for people with the right mindset, economic changes impacting the modern career path are positive. Those that are flexible, willing to make the effort to stay ahead of industry trends and take time to understand what really drives business to their companies and firms are poised to succeed. Technically Legal is hosted by Chad Main, an attorney and the founder of Percipient, a tech-enabled alternative legal services provider.
Finally, a voice of reason speaks to the idea of the likelihood of a recession. NY Times Senior Economic Correspondent Neil Irwin joins Jack to talk about the realities of our economy.
Talk of a coming recession has only gotten more heated this week, following a meeting of central bankers at Jackson Hole and a bunch of trade back and forth at the G7. Markets rebounded Monday, but the yield curve remains inverted and the global economy is still slowing down. So what now? We called Neil Irwin, senior economics correspondent at “The New York Times,” to help us figure out what we should be watching for, and what happens next
Every ambitious professional is trying to navigate a perilous global economy to do work that is lucrative and satisfying, but some find success while others struggle to get by. In an era of remarkable economic change, how should you navigate your career to increase your chances of landing not only on your feet, but ahead of those around you? In How to Win in a Winner-Take-All World, Neil Irwin, senior economic correspondent at the New York Times, delivers the essential guide to being successful in today’s economy when the very notion of the “job” is shifting and the corporate landscape has become dominated by global firms. Irwin shows that the route to success lies in cultivating the ability to bring multiple specialties together, to become a “glue person” who can ensure people with radically different technical skills work together effectively, and how a winding career path makes you better prepared for today's fast-changing world. Using insights from global giants like Microsoft, Walmart, and Goldman Sachs, and from smaller lesser known organizations, How to Win in a Winner-Take-All World illuminates what it really takes to be on top in this world of technological complexity and global competition. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. Connect with me at these places for all my content: https://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://www.stitcher.com/podcast/jill-on-money https://apple.co/2pmVi50 "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
The U.S. economy is entering the longest expansion in U.S. history. But, it could be getting long in the tooth. The economic turmoil and relentless uncertainty of Trump’s mercurial trade policies are making businesses more reluctant to expand. The New York Times' Neil Irwin joins us to talk about whether this all adds up to a recession on the horizon. How the Recession of 2020 Could Happen https://www.nytimes.com/2019/08/17/upshot/how-the-recession-of-2020-could-happen.html Neils new book, How to Win, is available here: https://www.amazon.com/gp/product/B07J4RSKYZ?pf_rd_p=183f5289-9dc0-416f-942e-e8f213ef368b&pf_rd_r=F1QFSJVXFZV0AE9W0P7D
A tumultuous week on Wall Street - President Trump plays the blame game with the Federal Reserve and says everything's fine, but could a recession be looming on the horizon? Plus, Israel blocks a visit by two Democratic congresswomen - after a very public nudge from the president. And one struggling 2020 Democrat bows out - but another fights on after a mass shooting back home. Today's Panel: Julie Pace of the Associated Press, Politico's Laura Barron-Lopez, Lisa Lerer of the New York Times, and Seung Min Kim of the Washington Post. Plus New York Times economic reporters Neil Irwin and Jeanna Smialek.
Our guest today is Neil Irwin, who is the senior economic correspondent at the New York Times and the best-selling author of The Alchemists: Three Central Bankers and a World on Fire, about the global financial crisis and its aftermath. And Irwin recently wrote a new book titled How to Win in a Winner-Take-All World: The Definitive Guide to Adapting and Succeeding in High-Performance Careers. It’s a fascinating and important book, given the changing and complex world we live in. To learn more, and for the complete show notes, visit blionline.org/blog. Resources: Neilirwin.com How to Win in a Winner-Take-All World: The Definitive Guide to Adapting and Succeeding in High-Performance Careers Twitter: twitter.com/neil_irwin LinkedIn: www.linkedin.com/in/neil-irwin/ Facebook: www.facebook.com/neil.irwin Learn more at MACPA.org/future-learning Future-Proof is a production of (http://crate.media/)
This week, Slate Money invites Neil Irwin, Senior Economics Correspondent for The New York Times, to the show to discuss Jeffrey Epstein, Christine Lagarde and his article on Economic Orthodoxy. And in the Slate Plus segment: Who will run the IMF now? Email: slatemoney@slate.com Twitter: @felixsalmon, @Three_Guineas,@EmilyRPeck, @Neil_Irwin Podcast production by Jessamine Molli. Learn more about your ad choices. Visit megaphone.fm/adchoices
This week, Slate Money invites Neil Irwin, Senior Economics Correspondent for The New York Times, to the show to discuss Jeffrey Epstein, Christine Lagarde and his article on Economic Orthodoxy. And in the Slate Plus segment: Who will run the IMF now? Email: slatemoney@slate.com Twitter: @felixsalmon, @Three_Guineas,@EmilyRPeck, @Neil_Irwin Podcast production by Jessamine Molli. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you have a fender bender with another driver, should you just work it out between the two of you or should you report it to the insurance company? This episode begins by explaining the answer to that and why it is so important. https://www.consumerreports.org/cro/magazine/2013/09/should-you-report-that-fender-bender-auto-insurance-claims-consumer-reports/index.htmHaving a job isn’t what it used to be. The changing economy is creating a lot of new jobs while eliminating others and somehow you have to survive amidst all that change. Joining me to help you navigate all of this is Neil Irwin, he is a senior economic correspondent at The New York Times, and author of the book How to Win in a Winner-Take-All World (https://amzn.to/2XKoFP2). Neil offers a strategy that will help bulletproof your career and allow you the grow in whatever field you choose.I bet you have wondered when you leave the house in the morning if you should turn off the AC and turn it back on when you get back – or just leave it on? Well, in terms of efficiency and saving money there is only one answer and I’ll reveal it here. http://www.menshealth.com/guy-wisdom/should-you-turn-your-ac-off-when-you-leaveEver wonder why some advertising seems to work on you while other advertising messages don’t? Considering how many advertising messages you hear everyday, it is amazing you recall any of them. Marketing expert Neale Martin author of the book The 95% of Behavior Marketers Ignore (https://amzn.to/2LGFc02) joins me as we explore how advertising works on your mind and what causes you to respond or not.This Weeks Sponsors-Quip Toothbrush. Get your first refill pack free. Go to www.GetQuip.com/something-Capterra. To find the best software solutions for your business for free, go to www.Capterra.com/something-Linzess. For information about your IBSC symptoms go to www.ohmygut.info/podcast.
The Federal Reserve’s got quite the puzzle on its hands. We’re dealing with one of the longest job growth streaks in modern history. And yet, the economy isn’t working as expected. Interest rates and inflation are simply not behaving according to standard economic models. And it’s the Fed’s job to figure out what’s going on in the name of keeping things stable and growing. New York Times’ senior economics correspondent Neil Irwin returns to break things down for us. Plus, we hear from the ‘Iolani High School economics team (good luck at the finals!) on their favorite Fed chairs. And artist and author Jenny Odell answers the Make Me Smart question. Some links from this week’s episode: Molly Wood’s news fix on UFOs, Kai Ryssdal’s latest on the trade war, how Crispr could help fight climate change and Molly’s secret weapon for today’s economics-focused episode.
In the news - The New York Times recently published a fairly bleak outlook for interest rates. In , Neil Irwin suggests that there is no underlying economic reason for interest rates to rise in the near term. Mark, Will and Paul discuss his perspective and what this means for near-retirees and retirees dependent upon savings interest rates to cover daily living expenses. One solution that could help optimize interest rates in this environment is a multi-year guaranteed annuity. This fixed annuity is a relatively simple product that can generate predictable interest income over a fixed period of time. If you are presenting this option to a client, however, there are many different features you should understand. The hosts walk you through a number of the most important ones you should know today. Connect with That Annuity Show: Twitter: Facebook: Website: Connect with Nassau Re: LinkedIn: Website: *This podcast is intended for general informational purposes only and is not a solicitation of any insurance product. The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer's needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.
Neil Irwin is a senior economics correspondent for the New York Times and was formerly a columnist at the Washington Post. He is the author of the book, *The Alchemist: Three Central Bankers and a World on Fire*, and he joins the show today to talk about his work as an economics correspondent. David and Neil also discuss the invisible recession of 2016, how monopsony power affects labor market wage setting, and the political fallout from the Great Recession. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/11262018/economic-journalism-recession-economics-and-international-monetary-policies Neil’s Twitter: @Neil_Irwin Neil’s New York Times profile: https://www.nytimes.com/by/neil-irwin Related Links: *The Alchemists: Three Central Bankers and a World on Fire* by Neil Irwin https://www.amazon.com/Alchemists-Three-Central-Bankers-World/dp/0143124994 *The Policymakers Saved the Financial System. And America Never Forgave Them* by Neil Irwin https://www.nytimes.com/2018/09/12/upshot/financial-crisis-recession-recovery.html *The Most Important Least Noticed Economic Event of the Decade* by Neil Irwin https://www.nytimes.com/2018/09/29/upshot/mini-recession-2016-little-known-big-impact.html *Are Superstar Firms and Amazon Effects Reshaping the Economy?* by Neil Irwin https://www.nytimes.com/2018/08/25/upshot/big-corporations-influence-economy-central-bank.html *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* https://www.nber.org/papers/w23134.pdf *What Recovery? The Case for Continued Expansionary Policy at the Fed* by J.W. Mason http://rooseveltinstitute.org/what-recovery/ David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth
Jerome Powell has only been serving as Chairman of the Federal Reserve since February, but he's already having to contend with some unusual circumstances. This week, he appeared before Congress to speak about the state of the economy. Lawmakers wanted to know what America’s top central banker thinks about President Trump's steadily escalating trade war. Since January, Trump has imposed or threatened to impose tariffs on 10,000 different products the U.S. imports from Mexico, Canada, Europe, and China. Those countries are retaliating with tariffs of their own. Powell avoided commenting on Trump's tariffs, but did share the view of many economists on trade: "In general, countries that have remained open to trade that haven’t erected barriers including tariffs have grown faster, had higher incomes, had higher productivity and countries that have gone in more protectionist direction have done worse", said Powell. "I think that’s the empirical result." This week on Money Talking, Ilya Marritz speaks to Neil Irwin of The New York Times on America’s growing protectionism, and how the Fed is preparing for it.
Opportunity in America - Events by the Aspen Institute Economic Opportunities Program
In post-WWII America, workers had a different relationship with their employers than workers do today. Many workers stayed with one company for the long haul, earning solid wages, good benefits, and pensions in exchange for loyalty and hard work. That social contract spurred the creation of the largest, strongest middle class in history. But much has changed in recent decades. In his richly detailed and eye-opening book, Rick Wartzman chronicles the erosion of the relationship between American companies and their workers. Wartzman tells the stories of four major employers — General Motors, General Electric, Kodak, and Coca-Cola. By tracing the ups and downs of these four corporate icons over seventy years, Wartzman illustrates just how much has been lost: job security and steadily rising pay, guaranteed pensions, robust health benefits, and much more. Charting the Golden Age of the '50s and '60s; the turbulent years of the '70s and '80s; and the growth of downsizing, outsourcing, and instability in the modern era, Wartzman's narrative is a biography of the American Dream gone sideways. The Economic Opportunities Program and the Financial Security Program host Rick Wartzman to discuss his new book, The End of Loyalty: The Rise and Fall of Good Jobs in America, in a discussion with Neil Irwin, senior economics correspondent for The New York Times. This event is part of Reconnecting Work and Wealth, a joint set of work led by the Economic Opportunities Program and the Financial Security Program. Income and assets are both essential building blocks of household economic security and opportunity, and are intertwined in the economic lives of households. Together EOP and FSP are exploring how critical changes in recent decades are reshaping both labor and financial markets and leaving working families more vulnerable. Through publications, public convenings, and intensive dialogues with leaders in industry, academia, philanthropy, government, and nonprofit organizations, the Aspen Institute is advancing the conversation on how to ensure that hard work can lead to economic stability and mobility in today's economy. Learn more at as.pn/workandwealth. The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. For more information, visit our website at as.pn/eop. Learn about new events and activities by joining our mailing list (as.pn/eopmail) and following us on social media (as.pn/eopsocial).
Special Podcast Episode 10 “The Electric Utility Industry’s Golden Age of Innovation: Now” Innovation Interviews with Eight CEOs After a bit of a hiatus, we are back. I can assure we have been busy on your behalf in the interim. We are delighted to announce that we formed two companies under Leadership Lyceum’s brand: Lyceum Leadership Consulting which provides executive and board of director’s search, board effectiveness review, and an array of services for successor development and board-readiness. And Lyceum Leadership Productions which brings you this podcast. We will be expanding the programming of the episodes this summer so please subscribe through iTunes and give us feedback. Tell us about leadership situations that you are interested in us exploring. Please visit our website www.LeadershipLyceum.com for all of our archived media and offerings. Welcome to this Special Episode of the Leadership Lyceum: A CEO’s Virtual Mentor focused on innovation in an industry that many of us take for granted. We take an in-depth look at innovation in the electric utility industry. It’s the Leadership Lyceum’s opening act to Edison Electric Institute’s annual industry convention that starts this weekend, June 11th in Boston. In this Episode, we take a look back at last year’s convention in Chicago, where we conducted 10 interviews that included 8 CEOs from the electric industry covering all points along the electricity value chain from generation to transmission to distribution to the customer meter and beyond. We also have the perspective of a President of a venture capital-backed, technology provider to the industry; as well as the critical viewpoints of the regulator -- with the President of the National Association of Regulatory Utility Commissioners (or NARUC). By way of context for our broad listenership, Edison Electric Institute (or EEI), is the association that represents all U.S. investor-owned electric companies. EEI provides public policy leadership, strategic business intelligence, and essential conferences and forums for the industry. As a bit of an appeal to our broad listenership --- why should you care about this industry? Well its impact and influence is far-reaching and profound. The member companies of EEI provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia --- and directly and indirectly employ more than one million workers. Our esteemed guests are all listed on the back of the album cover and on our website with links to their bios. As a reminder, we conducted these interviews in June of 2016. Our guests are as follows: Nick Akins, CEO of AEP in Columbus, OH; at the time, the outgoing Chairman of EEI. https://www.aep.com/about/leadership/profile.aspx?id=Akins Tom Fanning, CEO of Southern Company in Atlanta; at the time, the incoming Chairman of EEI. http://www.southerncompany.com/about-us/leadership/ceo.html Warner Baxter, CEO of Ameren Corporation in St Louis. https://www.ameren.com/about/warner-baxter Pedro Pizarro, CEO of Edison International; at the time, the President of Edison subsidiary Southern California Edison. https://www.edison.com/home/investors/corporate-governance/meet-our-board-of-directors/pedro-j-pizarro.html Jim Piro, CEO of Portland General Electric in Portland, OR http://investors.portlandgeneral.com/management.cfm Ralph Izzo, CEO of PSEG, in Newark, NJ; https://www.pseg.com/family/leadership/ceo.jsp Steve Berberich, CEO of California ISO; the ISO is one of the world’s largest transmission organizations, managing the electric grid and wholesale power markets for 30 million Californians. https://www.caiso.com/about/Pages/OurLeadership/StephenBerberich.aspx Tony Earley, Executive Chair of the Board of PG&E Corporation in San Francisco; at the time, was Chairman, CEO and President of PG&E http://www.pgecorp.com/aboutus/our_team/TEarley.shtml Alex Laskey, Co-Founder and President of Opower; Alex sold his company to Oracle while we were at the convention in June 2016 https://www.ted.com/speakers/alex_laskey Travis Kavulla, Commissioner, Montana Public Service Commission; and at the time, was serving a term as President of National Association of Regulatory Utility Commissioners (or NARUC) http://psc.mt.gov/commissioners/District1/ Just prior to our interviews last year, Neil Irwin, senior economics correspondent for The New York Times (https://www.nytimes.com/by/neil-irwin) gave us inspiration in his walk down the memory lane of innovation in his May 15, 2016 “The Upshot” column titled “Tracking Down the Golden Age of Innovation”. https://www.nytimes.com/2016/05/15/upshot/what-was-the-greatest-era-for-american-innovation-a-brief-guided-tour.html?smprod=nytcore-iphone&smid=nytcore-iphone-share Twitter: https://twitter.com/Neil_Irwin He posited in that article that a better way to understand the significance of technological change may be to come as close as we can to actually walking through those time periods, from the end of the Civil War to present, and understand the way we lived, ate, traveled and clothed and entertained ourselves. Through our conversation with these industry leaders, we will attempt to walk you through our current age of innovation in the electric power industry. Segment 1: Opening Statements – The Structure of the Industry. Travis Kavulla, President of NARUC and Commissioner of the Montana PSC. Steve Berberich, CEO of California ISO, managing the transmission grid across the state of California. Tony Earley, CEO of PG&E in San Francisco. Ralph Izzo, CEO of PSEG in Newark. Nick Akins, CEO of AEP in Columbus Steve Berberich, CEO of California ISO Segment 2: Interoperability, Data, and the Customer Steve Berberich, CEO of California ISO He expounds on the subject of interoperability of complex components of the electricity value chain. Nick Akins, CEO of AEP in Columbus Nick transitions into how technology has enabled customer relationships. Advanced Metering triggered proximity to the customer. Tony Earley, CEO of PG&E in San Francisco. Alex Laskey, President of Opower Pedro Pizarro, CEO of Edison International Segment 3: Boundary Conditions and how utilities are defining the boundaries of their service. Warner Baxter, CEO of Ameren in St Louis Pedro Pizarro, CEO of Edison International Steve Berberich, CEO of California ISO Travis Kavulla, President of NARUC and Commissioner of the Montana PSC. Nick Akins, CEO of AEP in Columbus Ralph Izzo, CEO of PSEG in Newark. Tom Fanning, CEO of Southern Company in Atlanta Tony Earley, CEO of PG&E in San Francisco. Segment 4: Collaboration with Disruptors and how utilities are partnering with the technologists on innovation and solutions. Warner Baxter, CEO of Ameren in St Louis Jim Piro, CEO of Portland General Electric Segment 5: Regulatory Barriers and Enablers to innovation. Travis Kavulla, President of NARUC and Commissioner of the Montana PSC. Pedro Pizarro, CEO of Edison International Alex Laskey, President of Opower Segment 6: Are We Pushing Hard Enough to Innovate? Travis Kavulla, President of NARUC and Commissioner of the Montana PSC. Nick Akins, CEO of AEP in Columbus Jim Piro, CEO of Portland General Electric Tom Fanning, CEO of Southern Company in Atlanta Segment 7: Parting Thoughts and Advice to Stakeholders. It’s fitting that our three guests with the parting words are those who have transitioned since my interview with them last year. One through sale of company, one through executive retirement, and the other through expiration of term of service. Tony Earley, CEO of PG&E in San Francisco - who has now turned the leadership of PG&E over to his successor Geisha Williams. Alex Laskey, President of Opower Travis Kavulla, President of NARUC and Commissioner of the Montana PSC in the anchor position with advice on the posture and approach of stakeholders to foster innovation from the regulatory point of view. Our Parting Thoughts I can’t think of a more fitting way to close this retrospective than drawing from the opening of Neil Irwin’s NYT article that I mentioned at the outset of this episode. Are you a skeptical economist who believes that we’re in a depressing era in which innovation has slowed and living standards are barely rising? Or are you a techno-optimist who believes that that our era, in which digital technology is transforming the underpinnings of human existence, is the golden age of innovation? Thanks for joining us. We can’t improve without your feedback – write us through our website www.LeadershipLyceum.com and subscribe on iTunes. See you next time. Informative and Helpful Links Edison Electric Institute (EEI): http://www.eei.org/ Ameren Corporation: https://www.ameren.com/ American Electric Power: https://www.aep.com/ California ISO: http://www.caiso.com/ Edison International: http://www.edison.com/ Pacific Gas & Electric: https://www.pge.com/ Portland General Electric: https://www.portlandgeneral.com/ Public Service Enterprise Group: https://www.pseg.com/ Southern Company: http://www.southerncompany.com/ Oracle and Opower: https://www.oracle.com/corporate/acquisitions/opower/index.html Montana PSC: http://psc.mt.gov/ National Association of Regulatory Utility Commissioners (NARUC): https://www.naruc.org/ New York Times: https://www.nytimes.com/by/neil-irwin Program Guide: Special Episode 10 “The Electric Utility Industry’s Golden Age of Innovation: Now” Innovation Interviews with Eight CEOs 0:30 Introduction to the Lyceum Leadership Consulting and Lyceum Leadership Productions 1:15 Introduction to “Innovation in the Electric Industry” through 10 interviews including 8 CEOs 4:05 Segment 1: Opening Statements – The Structure of the Industry 11:43 Break 1 11:57 Segment 2: Interoperability, Data, and the Customer 26:02 Break 2 26:24 Segment 3: Boundary Conditions - how utilities are defining the boundaries of their service. 36:50 Break 3 37:03 Segment 4: Collaboration with Disruptors 39:32 Break 4 39:49 Segment 5: Regulatory Barriers and Enablers 45:16 Break 5 45:31 Segment 6: Are We Pushing Hard Enough to Innovate? 51:12 Break 6 51:34 Segment 7: Parting Thoughts and Advice to Stakeholders 57:04 Lyceum’s Parting Thoughts 57:37 End of Episode Subscribe to the Podcast at: iTunes or SoundCloud Follow Leadership Lyceum on: www.LeadershipLyceum.com LinkedIn Twitter Instagram Facebook Email us: info@LeadershipLyceum.com Please subscribe to the Leadership Lyceum at iTunes which will enable future content to come to you automatically. Rate us and spread the word among your fellow executives and board colleagues. Your host Thomas B. Linquist is the Founder and Managing Partner of Lyceum Leadership Consulting and Lyceum Leadership Productions. Over his 15 years in management and leadership consulting he has served a wide array of industrial clients. This includes leadership assessment and search for chief executive officers, chief financial officers, chief operating officers and boards of directors. He holds an MBA from the University of Chicago and over his 25-year career has served in a variety of roles: as an engineer with Shell Oil Company, a banker with ABN AMRO Bank, and as treasurer was the youngest corporate officer in the 150+ year history at Peoples Energy Company in Chicago. He is an expert on hiring and promotion decisions and leadership development. Over the course of his search career, he has interviewed thousands of leaders. Please subscribe to the Leadership Lyceum in the podcast section at iTunes which will enable future content to come to you automatically. Rate us and spread the word among your fellow executives and board colleagues. Copyright 2017 by The Leadership Lyceum LLC
Why do investors need to know about the central banking system? Have the banks learned anything from the 2008 market crash? Neil Irwin, The New York Times economic correspondent and author of The Alchemists: Three Central Bankers and a World on Fire, discusses whether the economy is on the verge of another crash, the impact of having banks that are considered “too big to fail”, and how the central banking system affects the decisions of individual investors. When planning your investments or for retirement, you don’t only need to look at the central banking system, but also at the circumstances in your own life, such as your age. Doug gives focused investment advice on how to plan for retirement when you are in your 30s, 40s, and 50s. Find out how your age affects your risk level, what kind of expenses you may have, and the best kinds of investments for you, depending on your age. Follow Neil Irwin at: www.nytimes.com/section/upshot and on Twitter @Neil_Irwin
On this episode of Slate Money, Neil Irwin, author of The Alchemists: Three Central Bankers and a World on Fire, joins hosts Felix Salmon of Fusion, Cathy O’Neil of mathbabe.org, and Slate’s Moneybox columnist Jordan Weissmann. This week is all about Neel Kashkari of the Minneapolis Fed's new solution for our too-big-to-fail banks. Topics discussed on today’s show include: -How to break up the biggest banks. -How we could turn banks into public utilities. -How to take away the tax-deductibility of interest. Learn more about your ad choices. Visit megaphone.fm/adchoices
On this episode of Slate Money, Neil Irwin, author of The Alchemists: Three Central Bankers and a World on Fire, joins hosts Felix Salmon of Fusion, Cathy O’Neil of mathbabe.org, and Slate’s Moneybox columnist Jordan Weissmann. This week is all about Neel Kashkari of the Minneapolis Fed's new solution for our too-big-to-fail banks. Topics discussed on today’s show include: -How to break up the biggest banks. -How we could turn banks into public utilities. -How to take away the tax-deductibility of interest. Learn more about your ad choices. Visit megaphone.fm/adchoices
This is the first Food Non-Fiction episode of 2016, so we are going to talk about food trends. This episode will cover how to spot food trends, how to track food trends and what food trends we can expect in 2016. Using the New York Times' Chronicle tool, writer Neil Irwin came up with the Fried Calamari Index to track food trends by looking at the frequency at which the NYT mentioned various foods. Culinary trendologist, Christine Couvelier, forecasts food trends by going to food shows around the world, talking to chefs, visiting grocery stores/gourmet retail stores, and looking at food magazines. Christine says that food trends start at industry food shows around the world where food companies show their new food ideas. Some ideas are adopted in restaurant menus and the successful flavours then become available in specialty stores and magazines. From there, certain foods make it to grocery stores, thus becoming widespread and easily available to the average consumer. This is the path that balsamic vinegar has taken and this item is now commonplace in kitchens. In 2016, we can expect to see the flavour combination of sweet and heat. We can also expect new flavours of hummus, as well as vegetable yogurts. Continuing on from 2015, vegetables will be more and more central to dishes. Rather than simply being the healthy option or a garnish, vegetables will be used in enticing new ways - grilled, charred, roasted and smoked. 2016 has been deemed the International Year of Pulses by the United Nations Food and Agriculture Organization, so we'll be encouraged to use pulses like chick peas, beans and lentils. Thank you to our fascinating interviewees: Christine Couvelier of the Culinary Concierge Dr. Sylvain Charlebois of the University of Guelph Special thanks to the musician, truekey, for writing music for Food Non-Fiction: Soundcloud Twitter: @truekeymusic
Leave your company, take your ideas, and go to jail. Ok, maybe it’s not always that extreme, but we talk with Orly Lobel, author of Talent Wants to Be Free, about the laws that govern the minds and ideas of employees. From noncompete agreements, to trade secrets, to the illegal talent cartels of Silicon Valley, Orly helps us understand the field she calls “human capital law.” But we start, of course, with woodchippers, North Dakota, and seat recliners. This show’s links: Orly Lobel’s faculty profile and writing The Woodchipper in Fargo Exhibit (and on Facebook) The Smoking Gun’s collection of performers’ backstage riders Orly Lobel, Talent Wants to Be Free, Orly’s new book on competition, secrecy, motivation, and creativity, examining companies lie Google, JetBlue, and Mattel (Amazon or IndieBound) Orly Lobel, The New Cognitive Property Mattel v. MGA Entertainment, the Barbie vs. Bratz case PepsiCo v. Redmond About the Uniform Trade Secrets Act Ronald Gilson, The Legal Infrastructure of High Technology Industrial Districts: Silicon Valley, Route 128, and Covenants Not to Compete AnnaLee Saxenian, The Origins and Dynamics of Production Networks in Silicon Valley AnnaLee Saxenian, Regional Advantage: Culture and Competition in Silicon Valley and Route 128 About the “espionage case” of Sergey Aleynikov and Goldman Sachs Neil Irwin, When the Guy Making Your Sandwich Has a Noncompete Clause, about the Jimmy John’s noncompete clauses for its sandwich makers Orly Lobel and On Amir, Driving Performance: A Growth Theory of Noncompete Law David Streitfeld, Bigger Settlement Said to Be Reached in Silicon Valley Antitrust Case, in which Orly is quoted Special Guest: Orly Lobel.