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This week: The Fed announced an expected rate cut with an unexpected dissent. Felix Salmon, Elizabeth Spiers, and Emily Peck are joined by Axios' Neil Irwin who breaks down why the Fed meeting was so unusual – thanks to the very recent Trump appointee Stephen Miran– and what it means for the future of the central bank. Then, AMEX announced an increase that brings their Platinum fee to $895. Neil and the hosts reflect on the trend of making credit cards more and more premium and explain why you should think again before signing up. And finally, Publishers Clearing House filed for bankruptcy and its new owner ARB Interactive has said it won't be honoring the “lifetime” winners from before July 15 of this year. What will happen to the people who have built their lives around those payouts? In the Slate Plus episode: Labubus, the Avatar of 2025? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/SLATE Learn more about your ad choices. Visit megaphone.fm/adchoices
This week: The Fed announced an expected rate cut with an unexpected dissent. Felix Salmon, Elizabeth Spiers, and Emily Peck are joined by Axios' Neil Irwin who breaks down why the Fed meeting was so unusual – thanks to the very recent Trump appointee Stephen Miran– and what it means for the future of the central bank. Then, AMEX announced an increase that brings their Platinum fee to $895. Neil and the hosts reflect on the trend of making credit cards more and more premium and explain why you should think again before signing up. And finally, Publishers Clearing House filed for bankruptcy and its new owner ARB Interactive has said it won't be honoring the “lifetime” winners from before July 15 of this year. What will happen to the people who have built their lives around those payouts? In the Slate Plus episode: Labubus, the Avatar of 2025? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/SLATE Learn more about your ad choices. Visit megaphone.fm/adchoices
This week: The Fed announced an expected rate cut with an unexpected dissent. Felix Salmon, Elizabeth Spiers, and Emily Peck are joined by Axios' Neil Irwin who breaks down why the Fed meeting was so unusual – thanks to the very recent Trump appointee Stephen Miran– and what it means for the future of the central bank. Then, AMEX announced an increase that brings their Platinum fee to $895. Neil and the hosts reflect on the trend of making credit cards more and more premium and explain why you should think again before signing up. And finally, Publishers Clearing House filed for bankruptcy and its new owner ARB Interactive has said it won't be honoring the “lifetime” winners from before July 15 of this year. What will happen to the people who have built their lives around those payouts? In the Slate Plus episode: Labubus, the Avatar of 2025? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/SLATE Learn more about your ad choices. Visit megaphone.fm/adchoices
This week: The Fed announced an expected rate cut with an unexpected dissent. Felix Salmon, Elizabeth Spiers, and Emily Peck are joined by Axios' Neil Irwin who breaks down why the Fed meeting was so unusual – thanks to the very recent Trump appointee Stephen Miran– and what it means for the future of the central bank. Then, AMEX announced an increase that brings their Platinum fee to $895. Neil and the hosts reflect on the trend of making credit cards more and more premium and explain why you should think again before signing up. And finally, Publishers Clearing House filed for bankruptcy and its new owner ARB Interactive has said it won't be honoring the “lifetime” winners from before July 15 of this year. What will happen to the people who have built their lives around those payouts? In the Slate Plus episode: Labubus, the Avatar of 2025? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/SLATE Learn more about your ad choices. Visit megaphone.fm/adchoices
President Trump wants lower interest rates now, but what could that mean for the economy? "Marketplace" host Kai Ryssdal speaks with Neil Irwin at Axios about the implications of Trump's push to cut rates, and why central banks should stay focused on stabilizing the economy, not helping the government manage its debt. Also on the show: One of the pieces passed in the GOP's sweeping budget bill was a measure that would end taxes on tips and overtime. We look at who qualifies and who doesn't. And later, how companies are viewing the cost and importance of business travel.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.
President Trump wants lower interest rates now, but what could that mean for the economy? "Marketplace" host Kai Ryssdal speaks with Neil Irwin at Axios about the implications of Trump's push to cut rates, and why central banks should stay focused on stabilizing the economy, not helping the government manage its debt. Also on the show: One of the pieces passed in the GOP's sweeping budget bill was a measure that would end taxes on tips and overtime. We look at who qualifies and who doesn't. And later, how companies are viewing the cost and importance of business travel.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.
Trump has been going back and forth on his desire to fire Fed Chair Jerome Powell. Neil Irwin from Axios discusses whether the president has the power, and why a recent Fed building renovation matters. The Senate just passed a bill that would cut more than $1.1 billion in previously allocated federal funds for public media. The Wall Street Journal reports. The president of PBS tells the Washington Post the move would result in an existential crisis for member stations that depend on federal dollars. Umair Irfan with Vox describes why it has been so challenging for Los Angeles to rebuild after its devastating fires. Plus, Trump hit out at his own supporters over the Epstein files, why Israel just bombed Syria, and how a major breakthrough in IVF treatment that involves using the DNA of three people could prevent disease. Today’s episode was hosted by Shumita Basu.
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
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.
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
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
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
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.
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.
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.comTwitter: @felixsalmon, @Three_Guineas,@EmilyRPeck, @Neil_IrwinPodcast production by Jessamine Molli. Hosted on Acast. See acast.com/privacy for more information.