Marketplace

While the Federal Reserve is raising interest rates to cool down the U.S. economy, China’s central bank is taking the opposite approach to juice its slowing economy. Today, we’ll dig in. Plus, we wrestle with overstaffing at retailers and hear what the infant formula shortage teaches us about market concentration.

Then comes the upkeep. Authorities have confiscated roughly a dozen vessels with connections to the Kremlin, but to keep just one superyacht moored and maintained can cost tens of millions, and the arresting government has to foot the bill. Plus, retailers are stuck with too much inventory, farmers encounter a delayed planting season and classic cars are being electrified.

A thousand-point drop from the Dow is scary, but it wasn’t entirely unexpected either. Inflation cut into retailers’ earnings, spurring a huge market sell-off. The Federal Reserve wants the economy to cool, and the stock market may be taking the hint. We’ll talk about it all on today’s show. Plus: signs of a normalizing housing market, the legacy of California’s board diversity laws and more from our interview with former Fed Chair Ben Bernanke.

What’s the best way for the Federal Reserve to tackle decades-high inflation? For former Fed Chair Ben Bernanke, the answer’s in the past. Today, Bernanke discusses what previous Fed chairs got wrong, why the Fed’s credibility is critical and how the central bank can manage inflation expectations. Plus, understanding the strength of the dollar, the extension of the public health emergency and the state of U.S. coal production.

Today, the Joe Biden administration released a plan to tackle the shortage of starter homes. The move incentivizes high-density housing and manufactured or mobile homes. But there’s a hurdle for lower-cost housing developments: the communities that don’t want them there. Also on the program: looking at a new tool for mapping wildfire risks, grappling with higher utility bills and trading in a gig at Home Depot for one in a glassmaking studio.

We’ve got Cecilia Rouse, the chair of the White House Council of Economic Advisers, on the show today to hash out President Joe Biden’s remarks on the economy this week, the past year or so in government relief and who’s ultimately responsible for driving inflation. Before that, we’ll do some postgame analysis of our exclusive interview with Fed Chair Jerome Powell. We’ll also catch you up on the crypto crash and the baby formula shortage. Your donation powers the journalism you rely on....

The Senate confirmed Jerome Powell for a second term as chair of the Federal Reserve today. Last week, the Fed announced the biggest interest rate hike in 22 years and its plans for reducing the central bank’s nearly $9 trillion balance sheet, all in an effort to get torrid inflation under control. We sat down with Powell for a long interview about what the Fed can do to engineer a “soft landing” for this economy — and what it can’t. Your donation powers the journalism you rely on. Give...

At the start of the pandemic, Airbnb lost 80% of its business in about eight weeks. CEO Brian Chesky calls it a near-death experience for his company. On today’s show, we’ll talk with Chesky about where his business is going and why he believes “work from anywhere” is the future. Plus: how consumers are responding to (barely) slowing inflation, what Treasury bond yields have to do with student loans and why the Oakland A’s are playing ball for tiny crowds. Your donation powers the...

We’ll get an update on the consumer price index from the government tomorrow. Even if the inflation rate has slowed from its recent 40-year high, don’t expect prices to go down anytime soon. We’ll get you caught up with the economic fundamentals on today’s show. Plus: the trouble with tax holidays, management issues amid peak TV and why wildland firefighters haven’t seen a cent of their raise from last year. Your donation powers the journalism you rely on. Give today to support...

In the early days of the pandemic, China’s “zero-COVID” policy served the country pretty well. But in the omicron era, it’s putting strain on employment, supply chains and the global economy overall. On today’s show, we’ll look into it. Plus: Shein’s ultrafast fashion, Texas’ rolling blackouts and one couple’s money fight that ended up being about so much more. Your donation powers the journalism you rely on. Give today to support Marketplace.

The U.S. economy added 428,000 jobs in April, but there are signs the labor market slowing down a bit. Some economists say that might not be such a bad thing, counterintuitive as it might seem. On today’s show, we’ll explain and break down the rest of this big week in business and economic news. Plus: the start of the WNBA season and a look at the Gathering of Nations powwow. Your donation powers the journalism you rely on. Give today to support Marketplace.

Productivity fell 7.5% in the first quarter, the steepest drop since 1947. On today’s show, we’ll look at what that tells us about the economy as a whole. Plus, the future of medication abortion if Roe v. Wade is overturned. Later in the show, we’ll talk with the president of a community bank about responding to the Fed’s rate hikes. Your donation powers the journalism you rely on. Give today to support Marketplace.

The Federal Reserve announced a half-percentage-point interest rate hike today. It’s also shrinking its balance sheet in an effort to tame inflation. But supply chain hiccups, inflationary expectations and a potential wage-price spiral complicate the central bank’s job. Today, we dig in. Also on the program: why the Fed might not mind a dip in the stock market, and how overturning Roe v. Wade would ripple out into the economy.

If the Supreme Court overturns Roe v. Wade, about half the states in the U.S. are expected to ban abortions entirely. It’s a human and political story, but it has economic implications too. Today, we’ll take a look at the companies moving to help their employees access abortion care and who those policies impact most. Plus, an in-depth conversation with U.S. Trade Representative Katherine Tai on tariffs, trade and globalization.

Since Russia launched its war in Ukraine, the nation has been pummeled by sanctions, the freezing of assets and the exodus of multinational companies. Inflation is hitting ordinary Russians hard too. Now, with its role as Europe’s energy supplier in question, we do the numbers on Russia’s economy. (Hint: They aren’t pretty.) Plus, companies rethink their borrowing sprees amid rising interest rates and manufacturers look to set up shop in Mexico.

Exxon Mobil reported quarterly profits of $5.5 billion today, riding the wave of high oil prices prompted by the war in Ukraine, among other factors. The company, a leader in a shareholder-friendly industry, plans to use many of its billions on stock buybacks. Now, environmentalists are pressuring Congress to tax these windfall profits. Plus: Employees see higher pay but less buying power, and we’ll talk recession fears and GDP in the Weekly Wrap.

U.S. gross domestic product shrank by 1.4% last quarter, but just because the economy’s shrinking doesn’t mean it’s hurting. Today we dive into two big factors — slowed inventory growth and a surge in imports — sinking that calculation. Also on the program: How the NFL draft incentivizes “tanking,” and why the energy crisis could be an opportunity for the energy transition.

We’ve talked about the Federal Reserve’s tricky balancing act: raise interest rates enough to quell inflation without spurring a recession. That’s often called a “soft landing.” Thing is, it’s hard to do. The Fed’s tried it nine times since 1961 and has succeeded only once. Today, we’ll discuss how soft (or bumpy) the landing may be this time around. Plus: Russia cuts off some gas exports and retirement planning may now include crypto.

Home prices? Up. Mortgage rates? Also up. Demand for mortgages? Not so much. Today, we check in with a Los Angeles-based mortgage broker for a deep dive into the cooling of the housing market. Also on the program: Demand for coal sees a (likely temporary) boost, April wildfires underscore the growing costs of the climate crisis and the Pell Grant program is expanded for incarcerated students.

Mere days after announcing he wanted to purchase the social network, Elon Musk has reached a deal with Twitter ⁠— a $44 billion buyout. Musk, the world’s wealthiest man, wants to take the company private and change how it moderates content. Is there more to this deal than free speech? We’ll dig in. Plus: Why rising prices impact everyone differently and how companies came to serve shareholders first.