Marketplace

Revised gross domestic product for the first quarter shows even slower growth than the original estimate. With U.S. GDP representing nearly a quarter of global output, what happens here can affect other economies. Also in this episode: why companies opt for machines over people, how cyberattacks affect small businesses, and what one South Gate, California, business owner thinks of prices.

A small neighborhood in the Phoenix area, full of farm animals and dirt roads, is in turmoil: A huge TSMC semiconductor plant, now under construction, is bringing with it a wave of commercial development and new residents. Champions of the project say the jobs and housing are sorely needed, but locals feel the transformation threatens their way of life. In this episode, we’ll visit the so-called Golden Triangle and meet stakeholders who include longtime residents, small-business owners, a city councilwoman and a real estate developer.

Commercial Israeli banks process transactions with Palestinian banks — about $10 billion in trade per year, and paychecks for tens of thousands of Palestinians with jobs in Israel. Normally, the government protects them legally if any funding finds its way into terrorists’ hands. Israeli finance minister Bezalel Smotrich recently threatened to end these waivers. In this episode, what could happen to the Palestinian economy if he follows through? Plus, what’s included in “cost of living” indexes, why consumer confidence is rising, and are we in a climate change housing bubble?

Nearly two-thirds of Americans drink coffee every day, according to the National Coffee Association. If you’re part of that 63%, you may have noticed coffee getting more expensive. Some of it has to do with the cost of the raw crop, which is at a 45-year high, partly due to climate change reducing yields. And it doesn’t help that global demand is growing. Also in this episode: Mexico City is in a water crisis, Zoom cashiers usher in a new wave of digital offshoring and machinery and other things-that-make-things purchases were up last month.

Per Bank of America’s annual workplace benefits report, more full-time workers are feeling secure in their jobs compared to last year. But there’s a catch: Those upbeat responses came from men, while the percentage of women who feel financially stable dipped slightly. Plus, the Federal Reserve’s inflation frustration, the SEC’s near-approval of spot ether ETFs and the federal tax code’s post-election future.

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This week, we got some gloomy news on the housing market: In April, new homes sales fell 4.7% and existing home sales dropped about 2% from the month before, and in May, homebuilder confidence took a dive. The most likely culprit? High mortgage rates. Also in this episode: Why DuPont is splitting its company into three, what Olympic and Paralympic athletes are doing to raise funds for Paris, and how business is going for a maker of custom cowboy boots in Virginia.

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About 7% of U.S. adults have long COVID, according to a new survey by the Centers for Disease Control and Prevention. Many of those nearly 18 million people say their symptoms affect their ability to work. Disability accommodations could be the answer. Also in this episode, competitors work on catching up to AI chipmaker Nvidia, companies offer 401(k) matching of student loan payments and the Consumer Financial Protection Bureau starts regulating buy now, pay later platforms.

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On Monday, JPMorgan Chase CEO Jamie Dimon hinted at retiring soon after running the banking powerhouse for 18 years. But finding replacements for veteran CEOs can be a tricky business. Also in this episode: New research finds that Native households are more financially stressed. Plus: Lowe’s invests in professional contractors, and Chicago vendors scramble after grocery stores shutter.

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Fast-casual sit-down restaurant chains have a lot on their plates right now. They’re unpopular with Gen Z customers, struggling to maintain reasonable prices and can’t compete with made-to-DoorDash options like Chipotle. Meanwhile, at the other end of the restaurant spectrum, reservations at trendy spots are hot tickets in resale markets. Also in this episode: The Port of Baltimore hopes for a return to normalcy, Texans gear up for a sweltering summer and homeowners in extreme weather-prone areas turn to state governments for insurance.

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The Dow Jones Industrial Average closed above 40,000 for the first time on Friday. As we say regularly on this show, the stock market is not the economy. But it can still be a good indicator of how some folks are feeling about the state of the economy. Also in this episode: Competition for small-business spending heats up, EV sales take a dip, and purchasing power for all income levels rises.

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Staying ahead is tough if you run a business — especially in this odd economic moment, where even affluent shoppers are picking low-cost alternatives. Whether you’re selling furniture, home goods or sheep’s wool, sometimes you have to adapt by targeting new markets. In this episode, three businesses doing just that. Plus, what a dip in weekly jobless claims might signal, why currency carry trades are risky, and how the bees made a comeback.

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Looking at fresh economic data, retail sales were flat and some categories of food dropped in price from March to April. That indicates both falling inflation and a consumer spending pullback — good things if you’re the Federal Reserve. We’ll dig into the consumer price index and hear from Chicago Fed President Austan Goolsbee about the stickiest part of inflation right now. Plus, more women are employed than ever. Could that change as pandemic support programs expire?

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President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.

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Americans are feeling worse about the economy. And that’s partly to do with fears about lasting inflation. According to the latest data, consumers expect inflation to rise three-tenths of a percentage point a year from now. Also in this episode: Why people are eating less fast food, how employers are helping workers with addiction recovery and what lower demand for second homes means for the general housing market.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Commerce Secretary Gina Raimondo wants to position the U.S. to become a leader in semiconductor manufacturing. After all, the U.S. invented the industry not so long ago. The Biden administration has invested $30 billion in new factories, and companies have thrown in 10 times that sum. In this episode, Raimondo tells “Marketplace” host Kai Ryssdal where she hopes U.S. chip production will be by 2030. Plus, her broadband expansion plan and how she views our trade relationship with China.

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Treasury Secretary Janet Yellen sat down with “Marketplace” host Kai Ryssdal to discuss inflation, economic growth, U.S.-China relations and why having a strong democracy matters for our economy. She also highlighted federal investments in clean energy, concerns about Chinese overproduction and more.

Support our nonprofit newsroom today and pick up a fun thank-you gift like our new Shrinkflation mini tote bag or the fan favorite KaiPA pint glass!

Over the past five years, rents in nearly every major U.S. city have risen faster than wages. In New York City, rent surged seven times faster than wages last year. But this spike isn’t confined to the Big Apple. Later in this episode: GE’s three-way split is the end of an era. Also: the WNBA pay gap, and the rebranding of an iconic Midwestern frozen-food delivery service.

The good news: The forecasted date at which the Social Security and Medicare trust fund can’t pay full benefits for everyone was pushed back a few years in a report issued Monday. Bad news: That day is still coming, unless Congress acts. Also: aging in place or stuck in place? The challenges of homeownership later in life. Later in the episode: Reddit’s revenue and union organizing efforts in the South. 

Workers are more satisfied with their jobs than they’ve been in nearly 40 years, according to a report from The Conference Board. But dig a little deeper and there are signs of rising dissatisfaction. In this episode, why workplace happiness might be plateauing. Plus, the property insurance industry faces growing climate risk, and a recreation center becomes a burden for a former boom town.

The U.S. spends about half of its $6 trillion budget on three government entitlements: Social Security, Medicaid and Medicare. When it comes to the national debt, cutting these benefits is often part of the cost-cutting conversation. In this episode, we hear how these entitlements grew to be so costly and why reducing them has been so difficult historically. Plus, the layoff that allowed one woman to focus on her small business, and the economic impact of university divestment.

Phoenix is on track to become a national hub for semiconductor production. The city has had lots of help: billions in funding from the Biden administration and buy-in from major chipmakers like TSMC and Intel. One thing they still need, though, is workers — 70,000 nationwide. Training programs are already preparing folks for entry-level chip technician positions. But where are all those promised jobs?

In the latest installment from their trip to Phoenix, “Marketplace” host Kai Ryssdal and Washington Post columnist Heather Long visit Native Resources — a plant relocation, nursery and landscape company — that sits at the intersection of conservation and development amid a semiconductor boom. Plus, takeaways from the Federal Reserve’s policy-setting meeting, a check-in with business owners about wages and an update on a Mississippi barge business.

Phoenix has been in the semiconductor business for a while now, but the Biden administration is taking it to another level by sending a major infusion of cash to tech companies in the desert city to expand chip-making capabilities. In this episode, “Marketplace” host Kai Ryssdal visits Phoenix with Washington Post columnist Heather Long. They dig into the challenges of rebuilding the country’s semiconductor industry.

Warehouses and cargo-moving companies spent a few weeks in limbo after the Baltimore bridge collapse. Now, they’re working hard to reroute goods that usually went through the city’s port, with some truckers driving far and wide to pick up freight redirected to other cities. In this episode, how one cargo transportation company is adjusting. Plus, who will hurt the most from a cap on credit card fees, what economic data the Fed is keeping an eye on this week, and why desk phones are disappearing.

People with certain federal student loans have until Tuesday to consolidate them and qualify for debt cancellation. The Department of Education is reviewing over 40 million loan accounts and issuing credit for past payments that previously didn’t count toward forgiveness. Also in this episode: a look at the latest inflation reading, Americans’ savings habits and pop-up coworking spaces.

Gross domestic product grew by 1.6% in the first quarter, slower than expected after the six-quarter steak of 2% growth or more. How will the Federal Reserve respond to this data when making its next interest rate decision? Also in this episode: The new deep-water channel helping cargo ships leave the Port of Baltimore, protecting trade secrets with noncompete agreements, and the struggling pneumatic tube business gets a boost from the cannabis industry.

Today, President Joe Biden took a decisive step by signing a bill that could ban TikTok in the U.S. unless its Chinese owner, ByteDance, divests from the company within nine months. This move echoes a long history of limiting foreign ownership of communications companies, dating back to the founding of this country. Also in this episode: Boeing’s financial woes, the NBA’s media bidding war and New England’s free college frenzy.

Expand, slow down, contract and recover. Businesses tend to make decisions based on what stage of the business cycle the economy’s in. The problem is, that doesn’t work so well anymore. We’ll get into it. Also: The hot U.S. dollar causes trouble overseas, college grad unemployment is up, and what other food programs can learn from WIC.

Many states are making it easier for homeowners to subdivide their single-family lots. But those with space to spare may not know how to develop it. Now, new companies are offering cash for the land. Also: Profits are up, but probably not because of “greedflation,” and federal grants aim to get solar panels on low-income families’ roofs.

Thanks to a strong stock market and record home prices, asset owners are feeling richer, even if it’s only on paper. Today, we get into the “wealth effect” and how it may play out in the presidential election. Also: Higher prices slow Procter & Gamble sales, the “catastrophic” halt to a Baltimore port business, and why companies change the metrics they report to investors.

In the 1990s, companies that hoped to change the world using newfangled computer technology took off. Wall Street invested in some of them big time, and their stock market valuations ballooned before they showed evidence of delivering on their promises. Sound familiar? In this episode, a cautionary tale for the era of AI. Plus, film jobs leave L.A. and New York, Netflix doubles down on video game investments and small businesses’ pricing power is kinda lumpy.

Today, President Joe Biden called for tariffs to be tripled on certain Chinese steel and aluminum products. These tariffs, first implemented by then-President Donald Trump in 2018, are now the latest move in the ongoing U.S.-China trade war. Plus, sky-high car insurance premiums, the government’s latest energy-efficiency standards and China’s shrinking wine market. 

The International Monetary Fund reported today that the global economy has shown “remarkable resilience” and that growth is expected to hold steady at 3.2% this year. But that’s low by historical standards. Plus, why there’s weaker demand for Treasurys, how restaurant chains scout locations and why Warner Bros. is shelving “Coyote vs. Acme.” Beep beep!

The economy has historically been a major factor in election forecasting. But right now, the economy is kinda all over the place. In this episode, how some experts are adjusting their models to account for increased polarization and others are throwing in the towel. Plus, more guessing games: Will BYD crush Tesla? Should firms make big deals before inflation cools? And wait — when am I scheduled to work?

As more cities and states debate abolishing subminimum wages for tipped workers, we’re keeping an eye on Washington, D.C., where the tip credit system is being phased out. Though food service staff shrunk last year, some current servers say their paychecks are much more stable. Plus, corporate defaults climb and the cost of Asian imports falls as the cost of goods from Mexico increases.

Like a choreographed dance, central banks usually move together in managing interest rates. But with a high U.S. inflation reading in March, other banks might cut rates before the Fed. The European Central Bank is closer to its target and has signaled a cut in June. Plus, West Texas natural gas extractors are paying to get rid of their excess, colleges are hiring managers to help athletes get name, image and likeness deals, and a complicated insurance tactic is raising patients’ out-of-pocket costs.

Inflation is hotter than anticipated, according to today’s consumer price index. Electricity, for instance, cost 5% more year over year. And in the coming months, demand for electricity is expected to grow — scientists predict this summer is gonna be a hot one. In this episode, an air conditioning price forecast. Plus, the lone busy cargo facility in Baltimore, country music’s Black influences and an economic fortuneteller that’s always changing its mind.

Curious about which way the global economy’s headed? Take a look at copper prices. Demand for the metal is soaring, and copper futures are now at the highest levels in almost two years. Also in this episode: $10 billion. That’s how much Blackstone’s paying to acquire luxury apartment owner AIR Communities. Plus, the impact of a federal shutdown on tribal nations and the latest for a seller of records and comics in Jackson, Mississippi.

There have been mixed messages on interest rate cuts, and that uncertainty is weighing on consumers. As the Federal Reserve continues its effort to bring inflation down to 2%, economists watch how consumers interpret that kind of messaging and what their expectations are. Also in this episode: Black unemployment spikes, the impact of cyberattacks on small businesses and the growing use of psychometric assessments for job seekers.

Treasury Secretary Janet Yellen is back in China, less than a year since her last visit. In 2023, she was focused on gently reopening communication channels. This time she has a clear message: You’re making too much stuff. In this episode, why the U.S., Japan and some European countries are pressuring China to slow its manufacturing sector. Plus, we’ll hear from cargo ship workers stranded in Baltimore and learn about the welder shortage.

The legal right to ignore an after-hours call from your boss might seem appealing but unlikely. A California lawmaker, though, hopes to follow the lead of a dozen countries that have laws against it. Allowing employees to disconnect could be a plus for overall health and happiness, but not everyone supports the bill. Plus, women suffer a setback in the C-suite, economic data feels sorta choose-your-own-adventure right now, and denim is eternal.

Venture investments fell in the first quarter of 2024 to a near five-year low, PitchBook says. Funds started falling when the Federal Reserve first raised interest rates, and large exits have slowed in the past couple of years. Plus, “another test for the community”: Where Baltimore port workers and nearby businesses stand. Also, how campaign ads shape voters’ economic views and what the Realtors settlement means for buyers and sellers.

Interest rates on savings accounts have climbed in recent years. And high rates are great if you have money to squirrel away. With the Federal Reserve signaling it’s likely to cut rates, people can expect their banks to do the same. In this episode: how Fed rate cuts would impact high-yield savings and CDs. Plus, February job openings data, the cost of the Key Bridge collapse and the problem for TikTok-dependent beauty brands.

Twenty years ago, Google launched Gmail. Users thought the promise of 1 gigabyte of free storage was an April Fools’ joke. It wasn’t. In this episode, how Gmail came to dominate the email space — and everything connected to it. Plus, legislators rush to help workers affected by the Baltimore bridge collapse, small businesses prep for next week’s eclipse, and some states might cut funding for parent caregivers of disabled kids.

Federal Reserve Chair Jay Powell sat down with “Marketplace” host Kai Ryssdal to discuss inflation expectations, the central bank’s political independence, and humility in the face of national crises. The chairman also talked about how he consults with members of the rate-setting Federal Open Market Committee, why he worries when interest rates are covered like a “horse race,” and more.

Americans often vote based on economic conditions, but how voters feel about the economy doesn’t always align with the data. That disconnect can cost candidates an election — it might have happened in 1992 and it might happen in 2024. Also in this episode: Resume-spamming bots speed up job applications, the Federal Reserve hunts for “good data” and Home Depot bets on big construction projects as the DIY craze dies down and infrastructure funding kicks in.

Among the missing workers from yesterday’s bridge collapse are men from El Salvador, Mexico and Guatemala. According to the Labor Department, Latin American immigrants are among the workers most likely to die on the job. Plus, ever heard of “search funds”? Business school grads are using them as a fast track to the CEO seat. Also: The yen is at a 30-year low, and secondhand desks helped kickstart one business owner’s journey.

The Port of Baltimore is an important link in the U.S. supply chain. For one, it’s the nation’s busiest port for car shipments. But after the Francis Scott Key Bridge collapsed early Tuesday morning, the disruption could be prolonged. Plus, is 67 too young? Why some think the U.S. should raise its retirement age. Plus, how new construction impacts Houston’s housing market and what CHIPS Act funding means for a 1950s-era manufacturing plant in Vermont. 

The Biden administration, through legislation like the Inflation Reduction Act, has its sights set on facilitating the transition to clean energy. But can the federal government control clean energy supply and demand? Is decarbonizing the industrial sector even possible? We’ll dig in. Also in this episode: Boeing’s CEO plans to step down, homes remain unaffordable despite new supply and mobile home residents come together to secure stable housing.