Marketplace

Blackstone just bought a majority stake in Jersey Mike’s, a sub shop with 3,000 locations. Surprised? Don’t be. Since the pandemic started, private equity has been gobbling up restaurants, especially fast-casual ones. But struggling chains and sit-down establishments can also be attractive investments. We’ll chew on why. Also in this episode: Homebuilders are cautiously optimistic and central banks around the globe are nervous about a flare-up of inflation.

There are various ways to measure economic inequality. Sure, pandemic-era aid programs helped low-income Americans grow their wealth. And overall, wages have gone up since COVID hit. But did the gap between the wealthiest and poorest shrink? We’ll get into it. Also in this episode: Walmart is expected to report a robust third quarter tomorrow, boosted by e-commerce and affordable prices. Plus, retailers fret over a holiday shopping slowdown and the U.S. dollar grows stronger.

We may be two weeks out from Thanksgiving, but online retailers are already locked in on holiday shopping season. While brick-and-mortar stores might not have flashy displays up yet, online shops decked the virtual halls over a month ago. Also in this episode: Houses of worship go all-in on solar energy tech and some small banks are in desperate need of technology updates.

The incoming administration may follow the mantra “Drill, baby, drill,” but demand hasn’t been vigorous and the International Energy Agency predicts an oil surplus next year. In this episode, what too much product could mean for the domestic oil market. Plus, retirees feel financially stretched, North Carolina’s tourist industry navigates disaster recovery and Disney turns a profit on its streaming platforms.

The national inflation rate doesn’t give a full picture of rising prices. Some places have it better than others. In this episode, housing costs have driven inflation down in some places, and kept rates above the average in others. Plus: Will China have to pay its fair share in the clean energy transition? Are Americans in better shape to pay off debt than before the pandemic? And, does anyone really need an AI shopping assistant?

Financial data from three industry-leading firms tells three very different stories. Concert promoter Live Nation had a scorching-hot summer season, while car rental company Hertz fumbled an electric vehicle investment. Home Depot fell somewhere in between. Also in this episode, housing construction. Are townhouses a solution to the shortage of homes? And why does HUD take years to fund rebuilding after natural disasters?

Cryptocurrency firms are thrilled with last week’s election outcome. For them, a second Trump term means a friendly face in the White House. What do they want this time around? Surprisingly, some rules. Also in this episode: Beef futures are up, inflation stalls just above the Federal Reserve’s target, and we dig into how the National Institutes of Health spent $1.6 billion in federal funding for long COVID research.

he U.S. is somewhere between 3 million and 7 million units short of meeting the nation’s housing needs. What can be done to build up the supply of homes? We asked five experts for their solutions. Also in this episode: A new program to cool down electric grid demand comes to Texas and an Iowa soybean farmer stays optimistic in the face of a bad harvest and a potential upcoming trade war.

If President-elect Donald Trump gets his way, importers are about to pay a ton more in tariffs. Some businesses are scrambling to bring as much stuff as possible into the country before his inauguration — and that’s not exactly easy. Also in this episode: Streaming platforms gain more international subscribers, hybrid workers Lyft to the office and the Fed cuts its key interest rate.

What will happen to the economy during Trump’s second stint in the White House? We don’t know for sure. But his planned immigration crackdown could cut into gross domestic product and raise prices, and his promised high tariffs are likely to do the same. Plus: Stocks jumped after the election was called, Biden will leave behind a vigorous economy and firms seeking skilled labor are gonna need to educate new workers.

Back-to-back Hurricanes Helene and Milton caused billions in damage. How are insurers going to pay for it all? Turns out, insurance companies have their own insurance. But as disasters get more severe and more frequent, “reinsurance” isn’t covering what it used to. Also in this episode: Boeing has major catch-up to do, an abandoned oil field could become a lithium extraction hotspot, and small businesses seem hesitant to cut health benefits.

There are only a few bills with strong bipartisan support in the soon-to-be lame duck Congress. Requiring AM radio in new cars is one of them. Proponents say AM radio is a vital part of the Emergency Alert System and still broadcasts news in rural communities. Carmakers aren’t buying it. Plus, the Dow’s got some newcomers, OPEC (once again) postpones increasing oil production, and farmers stress about tariffs ahead of the election.

The federal government is seeking a legal remedy for Google’s monopoly on internet search, as adjudicated by a federal judge. That remedy could include a breakup of its parent company, Alphabet. But when similar accusations were leveled against Microsoft a couple of decades ago, the software titan emerged from its trial intact. Also in this episode, Shohei Ohtani is a star in the baseball card market and California’s battle with planet-clogging plastic bags enters a new phase.

An estimated 50,000 civil service jobs were slated to become political appointments under a Trump-era executive order. If Donald Trump returns to the White House, there’s a chance he’ll reinstate it, leading to the biggest federal workforce shakeup in nearly 150 years. Also in this episode: A new resource for farmers market pricing and the key to sustainable wage growth.

Consumer spending has been strong since the post-pandemic-crash economy got back on its feet, and it continues to prop up GDP. But too much spending, as well as too little, could mess with the Federal Reserve’s goals of stable prices and maximum employment. Also in this episode: WNBA players want a contract to match their popularity and brand power, wage growth stays ahead of inflation and farmers are having a down year.

Solar panels are key in the transition to cleaner energy. But despite oodles of federal investment, there are still obstacles in the way of the U.S. manufacturing industry. Also in this episode: Home price increases slow, “The Diplomat” showrunner aims for authenticity, and the Fed’s next move.

If Donald Trump is reelected president, the Federal Reserve’s political independence would go “right out the window,” Alan Blinder, a former Fed vice chairman, told us. In this special episode, economists weigh in on the importance of Fed autonomy in policymaking, and what political interference — something Trump is threatening — could mean for the global economy.

Tupperware, the once-innovative plastic container brand, filed for bankruptcy a few weeks ago. Other companies still sell via party, but Tupperware pioneered the model. What happened? Also in this episode: Gummy candy overtakes chocolate in the Halloween sales race, and a family trip overseas inspires a claw machine arcade business in Colorado.

Machinists who have been on strike against Boeing for over a month just rejected a second contract. A major sticking point? Pensions, which the company suspended 10 years ago, in favor of 401(k) contributions. In this episode, we weigh the pros and cons of each. Plus: Colorado’s oldest business will become a co-op, a tight housing market means fixer-uppers are cool again and recent hurricanes test the catastrophe bond market.

In 2022, over half of adult Gen Zers spent at least 30% of their income on rent. They’ve got it slightly better than millennials did 10 years prior, but not by much. In this episode, how being “rent burdened” could affect young people down the line. Plus: The Federal Reserve turns its attention to the job market, more stadiums introduce facial recognition software and fewer kids went straight from high school to college this year.

It’s been nearly a year since the United Auto Workers ended its strike against General Motors, and the automaker has defied expectations with strong third-quarter earnings. Why is GM doing so well when other carmakers are struggling? Plus: Quebec is using a pension fund to build a light-rail system, and “Marketplace” host Kai Ryssdal plays U.S. president in a climate war game with two Department of Defense retirees.

Half a century has passed since the Equal Credit Opportunity Act was enacted, guaranteeing women equal access to credit. In this episode, we look back on gender-based credit discrimination and discuss other forms of lending bias that still exist today. Plus: What’s at stake for Boeing as machinists vote on a tentative contract, the tipped minimum wage is on the ballot and the value of the U.S. dollar goes under the microscope during corporate earnings season.

Dozens of people wait in line at the U.S. consulate in Shanghai in hopes of scoring a visa. One worry on their minds? Whether the outcome of the U.S. presidential election will ease tensions between the two nations or heat them up. Plus, why builders are breaking ground on more single-family homes and fewer apartment complexes, and how mobile homes became an integral part of the American housing stock.

Recent surveys have found that uncertainty surrounding the presidential election is impacting consumer’s outlook on the economy. Why are people feeling this way despite strong spending numbers and the recent interest rate cut?Also in this episode: Asheville businesses cope with water scarcity, oil markets are in “backwardation,” and clothing resale platforms struggle to turn a profit.

An estimated 13 million older adults are eligible for the Supplemental Nutrition Assistance Program. Fewer than 4 million are registered. SNAP benefits can be a lifeline for food-insecure Americans, but they’ve got to apply. Plus, mortgage rates are up, and the European Central Bank is expected to cut rates again.

Walgreens plans to close about 14% of its national footprint in the next three years, making it the third major drugstore chain in the past year to signal it’s struggling. In this episode: Why have drugstores become a tricky business model, and what happens when communities lose a pharmacy? Plus: Electric vehicle adoption grows but Americans are still cautious, an inventory data point helps indicate where the economy’s headed, and some family foster agencies are scrambling after their biggest insurer in California pulls out of the market.

JPMorgan Chase and other major banks are setting aside extra cash in anticipation of an uptick in bad loans. Lending always comes with some risk, but right now, banks are worried about a few specific types of debt. Also in this episode: Some discouraged job seekers aren’t included in the official unemployment tally, OPEC downgrades its demand forecast — again, and Russian bots take over online poker games.

As Election Day grows closer, economic-minded voters wanna know: How much do Harris and Trump plan on adding to the national debt? The Committee for a Responsible Federal Budget reviewed the campaign promises of both candidates and predicted a spending range for each. In this episode, will Trump or Harris dig a deeper debt hole — and why should voters care? Plus, thousands in North Carolina are still without power, and why a mining company is paying billions for a lithium firm when the metal’s prices are down.

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, counts himself as a data dog. It’s a name for economic policymakers who take the long view and are usually game to wait for more numbers. Goolsbee spoke with “Marketplace” host Kai Ryssdal about his voracious appetite for information and what he calls “the hardest thing that a central bank has to do.” Plus: Sports ticket prices are up 10% in the last year, and California requires retailers to help fund textile recycling.

As the Southeast assesses Hurricane Helene’s damage, Milton barrels toward Florida’s west coast. The proximity of the storms will make it harder for homeowners and insurers to estimate each one’s impact — and likely drive up recovery costs. Also in this episode: Corporate bonds shine after the Fed’s rate cut, the mortgage rate honeymoon is over and Nebraska’s elections attract major campaign spending — along with some odd yard signs.

Natural disaster recovery is often expensive, but this season is shaping up to be particularly costly and painful. The Southeast is reeling from Hurricane Helene, and Hurricane Milton is expected to inflict more damage starting tomorrow night. Disaster preparedness can reduce the economic burden of recovery, but not all localities can afford to be prepared. Also in this episode: The Fed’s interest rate cut raised business owners’ optimism and China invites more young Americans to visit.

Since the COVID-19 pandemic began, firms have taken some unprecedented measures to balance out the effects of lockdown, inflation and supply chain backups, leaving some economic predictors sorta … off. How can forecasters do their jobs when so many economic patterns have changed? Also in this episode: The Author’s Guild announces an anti-AI marketing strategy, consumer credit climbs, and for some agents, the National Association of Realtors settlement was the last straw.

It’s a cautionary tale: Boeing was known for its reliably constructed aircraft. But when outsourcing for the sake of the bottom line went too far, product quality — and Boeing’s reputation — diminished. In this episode, the delicate balance of profit and perfection. Plus, the specialty contracting sector adds tons of jobs and an outdoor sleepaway camp in Wyoming combats brain drain.

The United States is the biggest importer and second-biggest exporter in the world. So if the dockworker strike lasts, some sectors may have to look for other ways to get their goods overseas — or pay to store them until cargo starts moving. Also in this episode: Prices probably won’t fall with inflation, economists keep an eye on the diffusion index, and Kai Ryssdal visits a remote atoll in the Pacific Ocean that’s important to U.S. security but vulnerable to climate change.

Medicare, Pell Grants and the Immigration Act of 1965 were all passed under President Lyndon B. Johnson. Several important government agencies were formed too. In fact, some historians argue that LBJ’s Great Society agenda was the last major shift in the relationship between the executive branch and the U.S. economy. In this episode, how does legislation passed under President Joe Biden compare?

About 45,000 members of the International Longshoremen’s Association went on strike today over pay, yes, but also the automation of their jobs. We take a look at mechanization on the docks and howtruckers feel the pain of shipping delays and slowdowns. Plus, the U.S. increased the number of available jobs in August, data centers are going higher and sleeker, and learning about white labels the hard way.

Sept. 30 marks the end of a yearlong grace period that came after a several yearslong pause on student loan repayments. Starting tomorrow, missing a payment will affect borrowers’ credit scores. Are the most vulnerable borrowers prepared to pay? Also in this episode: Women’s sports sponsorships gain ground, Zillow introduces climate risk scores for homebuyers, and a potential longshoremen’s strike looms on the East Coast and Gulf of Mexico.

Disposable income was up 0.2% in August from July, the latest personal consumption expenditures report shows. It’s good news that income is outpacing inflation, but major life expenses like homeownership or retirement are still out of reach for many Americans. Also in this episode: Kamala Harris’ presidential campaign may benefit from Divine Nine-affiliated PACs, California decides how best to recycle EV batteries, and Denver property owners will pay an annual tax to fund sidewalk maintenance.

Good job, everyone! We’re working harder — or at least, more efficiently. Despite a cooling labor market, we’re producing more product per hour, which has major economic benefits. In the long run, that should boost the economy and heat up hiring — hopefully. Also in this episode: The military tries lowering its aircrafts’ carbon footprint; Shanghai modernizes its e-payments for visitors; and while women are a growing Formula One fan base, they aren’t yet in the driver’s seat.

The average rate on a 30-year fixed mortgage is 6% right now — a better deal than 8%, which is where rates were a year ago. But home prices have grown tremendously in the past several years. So how much can falling rates really help prospective buyers? Also in this episode: a customs broker preps for a potential port strike, Dame Judi Dench could be your next AI assistant, and college football conference shake-ups are all about the money.

Last week’s interest rate cut was supposed lower borrowing costs across the economy. But there’s been a surprising coda: The interest rate on the 10-year T-note went up. So, while the Federal Reserve intended to provide an economic reprieve, some loans may have become just a little more expensive. Also in this episode: New York and Las Vegas lead in home price growth, cement needs to go green and soft skills strengthen job skills.

There’s a good chance you’ve used a computer powered by Intel — it’s a longtime Silicon Valley giant. But rival chipmaker Qualcomm is looking to get bigger. In this episode, why Intel, legendary but past its prime, may be ripe for takeover. Plus: Southwest Airlines faces pressure from an activist investor, talking to a human customer service rep has become a privilege and federally sponsored free COVID tests are back.

Ever wanted to burn up physical manifestations of the year’s heart-wrenching grief and financial dread in a 50-foot-tall, marionette-shaped effigy? Same! In this episode, we visit the 100th Burning of Zozobra in Santa Fe, New Mexico, where attendees do just that. Plus: Climate change may be to blame for pricey potato chips and corporations rehire old executives in unstable times.

Interest rates fell in the wake of yesterday’s cut by the Federal Reserve — kinda. Truth is, most lenders had anticipated this move for a while and already lowered their rates before the Fed’s announcement. But we’ll have to wait for some of the other ripple effects. Also in this episode: Educators cautiously consider artificial intelligence products, consumers aren’t too interested in the new iPhone and we visit a remote edge of Alaska where national security and climate change clash.

Federal Reserve policymakers met this week and announced they’re cutting interest rates by half a percentage point. That’s meant to buoy the economy, but getting the public to understand why rates have been high, and why now’s the time to cut, is tricky. In this episode, experts weigh in on Chair Jerome Powell’s communication prowess. Plus, Gen Zers feel the pain of a tight job market combined with high prices, and we travel back in time to a Fed rate cut in 2019.

Since the COVID pandemic started, you’ve been shopping online more, right? Though consumer spending remained relatively stable over the past year, shopping at nonstore retailers (i.e., e-commerce) grew nearly 8%. We get it, it’s more convenient and safer, pandemic-wise. But how are brick-and-mortars adapting? Also in this episode: Corporate execs spout similar economic lingo, our electric grid’s got green energy shortcomings and rate cut anticipation raises homebuilders’ confidence.

For years, global oil demand has ticked up, mostly thanks to China’s voracious consumption. But real estate trouble combined with widespread electric vehicle adoption means China’s not guzzling oil like it used to. In this episode, the impact on the global oil market. Plus: A dockworker strike could put snags in holiday shopping, flight attendants dislike delays as much as you do and four states will vote on bond measures in November.

Everyone’s favorite aircraft manufacturer is back in the news — 30,000 Boeing machinist union members are on strike over pay. Typically, flyers don’t care what plane they’re on, as long as it gets them to the right place safely. But Boeing has had a year of high-profile controversies. Will the strike put the company into free fall? Also in this episode: Dollar stores struggle, Sierra Mist fizzles out and Jack’s Family Restaurants thrives in rural towns.

Today in Econ 101, we’re talking yield curve. In a typical economy, the longer a bond’s duration, the more interest it yields. The inverse — shorter duration, higher yields — usually means a recession is coming. We’ve been seeing an inverted yield curve in the U.S. financial system for nearly two years. So, where’s the recession? Also in this episode: Credit card delinquencies hit a 12-year high and we visit U.S. troops preparing for climate change.