In case you forgot, President Trump's tariffs had one goal: narrow the U.S. trade deficit. Compare March ‘25 to March ‘26, and the deficit has shrunk by half. But from February to March of this year, it actually widened — exports rose, while imports rose even more. In this episode, what’s driving all that economic activity? (Hint, it’s not tariffs.) Plus: 30-year Treasury yields top 5%, home remodeling is projected to slow in 2027, and we visit a job fair in Philadelphia. Every story has an econ...
May 05, 2026•25 min
We’ve said from the get-go that consumers paid the bulk of President Trump’s tariffs. Now that most were ruled illegal, individual businesses will get to decide whether to pass those tariff refunds onto customers. And any litigation of those decisions could take a while. Also in this episode: What’s next for the airline industry sans Spirit, why GameStop wants to buy eBay, and how states could claw back some tax dollars. Every story has an economic angle. Want some in your inbox? Subscribe to ou...
May 04, 2026•26 min
Bad news for your next smartphone purchase: An extended memory chip crunch is upon us, warns Apple CEO Tim Cook. New artificial intelligence projects are outspending the consumer electronics sector on memory, and manufacturers have limited output capacity. Retailers will likely pass those higher costs onto consumers. Also in this episode: A retiree focuses on charitable giving, specialty movie ticket prices climb to $50, and America’s biggest energy port benefits from the Middle East oil tie-up....
May 01, 2026•25 min
U.S. gross domestic product grew by 2% in the first three months of 2026. (It’s a stark improvement to the final quarter of 2025, which saw GDP growth of just 0.5%.) Experts agree massive investment in artificial intelligence is the main driver of that growth. But what does that mean for the rest of the economy? Also in this episode: Financial market predictions fall short of real-life crude oil costs, airlines face an aircraft technician shortage, and social media is in the midst of a bean craz...
Apr 30, 2026•25 min
Wednesday marked Jerome Powell’s final FOMC meeting as chair of the Federal Reserve. Central bank leaders held rates steady this week, though with the most dissenting votes in over 30 years. Powell also announced his intent to stay on as a Fed governor — the first chair to do so since 1948. In this episode, we recap Powell’s tenure as head of the Fed and unpack his latest press conference. Plus: Companies issue more corporate debt, Taco Bell outperforms sales expectations, and AI spawns new cybe...
Apr 29, 2026•26 min
The U.S. Federal Reserve meets this week — so do central banks in Japan, England, Canada, and the European Union. Most will keep rates unchanged for now, as war in the Middle East shakes up the global status quo. But as other banks weigh imminent rate hikes, the U.S. may move in the opposite direction. More on why in today’s episode. Plus: Consumer sentiment crept up in April, Medicaid cuts slash pediatric care options, and five Big Tech firms post earnings this week. Every story has an economic...
Apr 28, 2026•25 min
It’s been a trend for a year now — home prices are up even though demand is sluggish. As Americans face growing economic uncertainty and rising costs, many are staying put. So why won’t home prices cool off? We’ll explain. Also in this episode: Tighter budgets mean fewer orders at Domino’s, air taxis take to the sky in New York City, and banks fret over new stablecoin legislation. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace...
Apr 27, 2026•25 min
Companies are using AI tools more every day. Some, like Meta, are even encouraging employees to use as many AI tokens as possible. But companies also spending more to access the technology — most AI firms bill per token, and those costs add up. In this episode, there’s no such thing as free AI. Plus: Procter & Gamble posts strong earnings, Kai visits LA’s first women’s sports bar, and we discuss the latest Federal Reserve news. Every story has an economic angle. Want some in your inbox? Subs...
Apr 24, 2026•25 min
Business activity growth soared in April, according to S&P Global’s purchasing managers index. The topline number might sound rosy, but experts think the growth spurt is really a sign of fear. In this episode, why businesses spent month two of the war in Iran stockpiling goods. Plus: Avis experiences a stock market “short squeeze,” business owners apply for the first round of tariff refunds, and we look back at the 1970s to understand the economics of oil price caps. Every story has an econo...
Apr 23, 2026•25 min
Boeing posted strong Q1 earnings Wednesday, and executives breathed a sigh of relief. The aircraft manufacturer survived several years of significant tumult, which included labor disputes, plane malfunctions, a production backlog, and shifting FAA restrictions. In this episode, how Boeing managed a comeback. Plus: Prediction markets Kalshi and Polymarket will start offering perpetual futures, carmakers push to follow Tesla’s direct-to-consumer sales model, and tariffs disrupt regular shipping cy...
Apr 22, 2026•25 min
Haven’t you always wished for robots to do menial labor? That’s sort of what agentic artificial intelligence is — rather than existing solely in a chat box, the technology can excecute complex tasks. These “helpers” have spurred a rat race in certain tech circles: With the help of personalized AI agents, just how productive can you be? Also in this episode: The U.S. dollar drags, budget airlines seek relief from high jet fuel prices, and consumers use credit to keep up with daily expenses. Every...
Apr 21, 2026•25 min
Rising gas prices, stemming from President Trump’s war against Iran, have frustrated drivers all spring. But diesel prices are up too, and diesel is the real engine of our economy. In this episode, small business owners face higher costs and uncertainty as diesel prices climb. Plus: Consumer sentiment reaches record lows even as spending remains stable, economists and farmers explain why tomato prices rose 15% in a month, and bond traders expect the Fed to hold rates steady all year. Every story...
Apr 20, 2026•25 min
QVC, which pioneered live TV shopping shows, filed for Chapter 11 bankruptcy this week. Leadership made the next step clear: a pivot away from television and toward something akin to social commerce, like livestreamed sales on TikTok Shop. But can the legacy brand compete with new, social media-driven shopping platforms? And after that, we wrap up Kai and Nela’s trip to Vietnam with visits to an AI startup and a neighborhood of expats. Every story has an economic angle. Want some in your inbox? ...
Apr 17, 2026•26 min
Cautious employers are hiring more temporary workers, according to the Fed’s latest Beige Book. It's sort of a half-step toward creating permanent roles. The good news is temp jobs can be a leading indicator for overall job market strength. But contract work lacks the stability and benefits of full-time employment. Also in this episode: Kai visits a sprawling electronics street market and a tech startup in Vietnam, jet fuel shortages put Europe on edge, and we check in with a hog and soybean far...
Apr 16, 2026•25 min
The results are in, and despite concerns that the war in Iran would dampen big banks’ earnings, they’re doing just fine, thank you. On earnings calls this week, several banks shouted out consumer “resilience” for keeping everything chugging along. How long might that resilience hold up? Also in this episode: Small business owners slog through tariff refund paperwork, China is well-positioned to ride out this oil price surge, and we’ve got more of Kai’s visit to Vietnam. Every story has an econom...
Apr 15, 2026•26 min
As the U.S. population ages, our economy will rely more on nations with younger workforces. Nations like Vietnam, where there are two working-age adults for every dependent. As part of our ongoing Age of Work series, host Kai Ryssdal and ADP chief economist Nela Richardson visit a garment factory and outdoor vendor market in Ho Chi Minh City to learn more about Vietnam’s economy. But first: Companies contend with higher transportation costs and the Fed faces oil industry demand destruction. Ever...
Apr 14, 2026•25 min
Grocery prices rose less than 2% in March, according to the latest consumer price index. The cost of some staples, including eggs, butter, and cheese, fell from spikes last spring. Certain produce prices moved in the opposite direction. In this episode, how the global economy affects your grocery bill. Plus: The war in Iran ripples through big banks’ earnings, fuel economy regulations soften the blow of high gas prices, and Kai visits Southern California’s Little Saigon ahead of a trip to Vietna...
Apr 13, 2026•25 min
Nearly 600 Marketplace fans gathered at the Aratani Theatre in downtown Los Angeles to watch Kai Ryssdal present Marketplace Live, in partnership with LAist. Kai was joined onstage by economics author, educator, and content creator Kyla Scanlon to talk about AI, prediction markets, Federal Reserve independence, and the war in Iran. Later, former “Marketplace Morning Report” host David Brancaccio joined Kai to discuss his experience rebuilding after the LA fire and his new job as Marketplace seni...
Apr 11, 2026•1 hr 13 min
Overall unemployment measured 4.3% in March, which is a sign of a fairly strong economy. A contradicting data point? The number of Americans who have been unemployed for more than six months grew 300,000 year-over-year. In this episode, a job hunt with no end in sight. Plus: The CPI shows still-high shelter inflation, composting finds its place in a trash-import state, and we recap the week’s economic data. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or wee...
Apr 10, 2026•25 min
The personal consumption expenditures report, which is the Fed’s preferred measure of inflation, showed costs rose 2.8% year-over-year in Feburary. That’s above the target, but never fear: Resilient consumers keep on spending, despite rising prices. What’ll it take to shake things up? Also in this episode: A war-driven plastic shortage costs U.S. manufacturers, we give that GDP revision some context, and Kai visits a nuclear reactor. Every story has an economic angle. Want some in your inbox? Su...
Apr 09, 2026•25 min
The share of U.S. debt held by foreign countries has been shrinking. Foreign investors currently hold about 30% of federal public debt, down from nearly half. In today’s episode, we explain why the rest of the world isn’t picking up the U.S. tab anymore, and how that’ll impact American consumers and businesses. Plus: Three tech giants are eyeing initial public offerings this year, and Delta Airlines reported high earnings — and higher fees. Also, before inflation reports drop this week, learn wh...
Apr 08, 2026•25 min
Laws prohibiting insider trading in commodities markets — which could be applied to prediction market platforms like Kalshi and Polymarket — are more recent and untested than you might think. In this episode, we dig into two conflicting viewpoints: prediction markets as forecasting tools and prediction markets as regulated betting platforms. Plus: Durable goods orders continue a downward trend, the air travel industry weighs the role of small airports, and consumer inflation expectations rise. E...
Apr 07, 2026•26 min
We've got the first whiff of price growth as a result of President Donald Trump's war in the Middle East: A services sector purchasing index registered its highest reading since October 2022. Experts expect federal data out later this week to show a similar uptick in prices from February to March. And even if the war ends soon, that inflation could stick around. Also in this episode: The U.S. isn’t likely to institute an oil price cap, HSAs remain an imperfect savings tool, and more shoppers opt...
Apr 06, 2026•25 min
The war with Iran has driven up the price of gas — as in, the gas we put in our cars. But what about natural gas, like the kind we use to heat and cool our homes? The U.S. is pretty well insulated from a natural gas price spike. Countries across Europe and Asia ... not so much. Also in this episode: Wage growth slows as the economy adds jobs, historic New England country stores pivot to stay afloat, and crude oil futures look a bit funky right now. Every story has an economic angle. Want some in...
Apr 03, 2026•26 min
President Trump said last night that military attacks on Iran will end in two or three weeks. But the effect on the global oil market will last much longer. In this episode, what it will take to stabilize oil supply and reserves — and how long gas prices will stay high. Plus: Hospitality groups make up a growing share of restaurant ownership, high oil prices haven’t pushed Permian Basin rigs to “drill, baby, drill,” and corporations take small steps to save the Colorado River basin. Every story ...
Apr 02, 2026•25 min
Thursday marks one year since President Trump announced sweeping tariffs on basically all imported goods — how time flies! The name of the game was uncertainty: U.S. small businesses pivoted from growth plans to stay-afloat plans, consumers grew gloomy but kept spending, and the U.S. manufacturing sector shed jobs. All while the rest of the world sorta shrugged and moved on. In this episode, we reflect on the year of the tariff. Every story has an economic angle. Want some in your inbox? Subscri...
Apr 01, 2026•25 min
One glaring result of President Trump’s war on Iran, one month in? High oil prices. If fuel stays expensive, the cost could ripple through the global economy. Analysts think the market for electric vehicles in the U.S. could see a boost, for example, as gas prices shoot up. And countries in Asia may reopen coal production plants as crude oil becomes scarce. Also in this episode: Aluminum prices spike, Unilever sells off its food brands to a spice giant, and plasma centers see more middle-class d...
Mar 31, 2026•25 min
The cost of a barrel of crude surpassed $100 over the weekend, as war in the Middle East continues to block oil shipments. In simpler, car-commuter terms, gas prices have risen to $4-ish per gallon. But even if the conflict ended tomorrow, they would be slow to fall. Also in this episode: Small business owners remain cautious to hire, community banks struggle to win deposits, and some sectors could see job cuts if the war in Iran continues. Every story has an economic angle. Want some in your in...
Mar 30, 2026•25 min
A growing number of farmers can’t afford to plant their crops this year. It’s because of rising costs for diesel, fertilizer, and equipment parts — coupled with low crop prices. On today’s episode, we talk to an Ohio soybean and corn farmer. Plus, how our economic landscape has changed after four weeks of war. Also, we break down the new consumer sentiment survey. And finally, a New York City artist shares his experience with the job market and gig economy. Every story has an economic angle. Wan...
Mar 27, 2026•26 min
Two years ago, a shipping container crashed into the Francis Scott Key bridge in Baltimore. Now it’s being rebuilt to be bigger and better. In today’s episode, we take you into the construction site. Plus, a new estimate on global inflation, a concerning trend with unemployment claims, and why the Federal Reserve usually looks past energy shocks. Also, “Marketplace” host Kai Ryssdal speaks with Janti Soeripto, president and CEO of Save the Children U.S., about how war is complicating the organiz...
Mar 26, 2026•25 min
