When you think “high prices,” you might think of stressed family budgets. But small businesses have to pay up too. Nevertheless, small-business optimism hit a two-year high last month, but it remains under the 50-year average. We’ll visit a boutique in New York and a bookstore chain in Georgia to get entrepreneurs’ on-the-ground perspectives. Also in this episode: New labor data could signal that interest-rate cuts are imminent, snack companies cook up Ozempic-friendly tr...
Aug 13, 2024•28 min•Transcript available on Metacast Last week, when the stock market took a tumble, some investors put their cash into bonds instead. Why? Well, we tend to think of the stock and bond markets as having an inverse relationship: when stocks do well, bonds do worse. But when the economy gets wonky, that relationship doesn’t necessarily hold. Also in this episode: Aging Chinatown residents struggle to pass the baton, consumers guess where the economy is headed next, and we ride an Amtrak train from Los Angeles to Portland, Orego...
Aug 12, 2024•29 min•Transcript available on Metacast A lot of folks like to weigh in on what the Federal Reserve should do with interest rates; Donald Trump said this week that if he were to reoccupy the White House, he should have a say in setting monetary policy. But keeping the Fed free of political pressure is important for several reasons. We’ll get into them. Also: Oklahoma tribal nations fill a gap in federal food aid for kids, Oregon ranchers deal with major wildfire losses, and theme park attendance dips.
Aug 09, 2024•26 min•Transcript available on Metacast The back-to-school shopping season is well underway. But with stubborn high prices in this economy, how will parents get their kids ready without feeling financially burdened? Also: decoding quarterly earnings, what goes into pricing mortgage rates, and why airport food is so expensive. Plus: A projectionist remembers his reel life.
Aug 08, 2024•26 min•Transcript available on Metacast Since the 1970s, the Federal Reserve has been officially tasked with a dual mandate: keeping prices stable and maximizing employment. But has the Fed ever found that sweet spot? It would be easier to answer if the economy wasn’t always in flux. Also: Disney’s streaming service posts its first profit, what we can learn from women entrepreneurs of the 19th century, and noise from a bitcoin mine haunts people in a rural Texas town.
Aug 07, 2024•26 min•Transcript available on Metacast How are people feeling about the economy after the dramatic drop in stocks? They’re “Googling the word ‘recession’ like crazy,” an economics professor told us. On the show today: Why perception is so important in economics. Also: The not-so-bad reasons for the higher unemployment rate, what the Google antitrust ruling could mean for Big Tech, and stealth shopping — hiding purchases from partners — is on the rise.
Aug 06, 2024•25 min•Transcript available on Metacast These aren’t words you want to hear about the stock market, but here we are. Global markets, including the major U.S. indexes, tanked today. Along with stocks, crude oil prices also took a hit. We’ll look at the causes and what might happen next. Also, the critical role of exporting services in this economy and a status report on a possible TikTok sale.
Aug 05, 2024•26 min•Transcript available on Metacast Job creation slowed sharply in July, the Labor Department reported today. One sector that took a hit is information and entertainment. That includes data processors, moviemakers, software publishers and — ahem — broadcasters and news websites. Do those job losses signal a meaningful change or was it just an off month for the field? Plus, shipping rates may come down next year, the Spanish-language interpretation industry is expected to grow, and remember when cellphones had antennas?
Aug 02, 2024•26 min•Transcript available on Metacast Strong productivity growth last quarter coupled with recent wage growth means we’re generating more output and, at least to some extent, getting paid for it. In this episode, why productivity growth prevents a wage-price spiral. Plus, California wants to build an offshore wind turbine assembly plant, national economics impact national performance in the Olympics and equity-rich homeowners can’t do much with their housing wealth right now.
Aug 01, 2024•28 min•Transcript available on Metacast The Federal Reserve kept its key interest rate as is today, but rate adjustments aren’t the only monetary policy tool at the Fed’s disposal — don’t forget quantitative tightening and easing. In this episode, we explain why buying and selling government debt can help to balance out the economy. Plus, companies look for smaller but swankier offices, New Jersey has 70,000 units of affordable housing thanks to a decades-long legal saga and the oil industry tries to guess when oil d...
Jul 31, 2024•26 min•Transcript available on Metacast When Big Tech earnings reports come out this week, traders will scrutinize how much was spent on artificial intelligence. The billions of dollars invested haven’t translated into profit — at least not yet — and Wall Street is getting impatient. Also in this episode: We’ll break down the latest job openings data, uncover why housing contract cancellations are rising and hear from a real estate broker about the market in Houston.
Jul 30, 2024•26 min•Transcript available on Metacast McDonald’s reported weak sales in its second quarter. A slowdown in restaurant spending — if that’s what’s happening — may signal an economic downturn is brewing. Or, are the chain’s underwhelming results a byproduct of pandemic spending trends or rising wages? Also in this episode: Being a firstborn kid has its economic advantages and three major central banks are meeting this week. Plus, we’ll explain how maximum employment is measured.
Jul 29, 2024•26 min•Transcript available on Metacast The good news? The Commerce Department says personal income and consumption were up in June. Bad news is savings didn’t rise with ’em. In fact, high interest rates and high prices have battered the personal savings rate down to an almost two-year low, leaving many households without a financial security cushion. In this episode, we’ll also get into why national manufacturing growth depends on where you are, and Boston is incentivizing office to residential real estate conversio...
Jul 26, 2024•26 min•Transcript available on Metacast New gross domestic product data just came in — GDP grew a healthy 2.8% annually in the second quarter, better than predicted. Meanwhile, consumers are focused on buying essentials and credit card debt is growing. In this episode, we’ll examine why GDP is strong while many everyday people feel squeezed for cash. Plus: New real estate broker fee rules take effect next month and the number of Americans who predict they’ll retire young is up.
Jul 25, 2024•27 min•Transcript available on Metacast The last time Congress raised the federal minimum wage, it went up 70 cents — from $6.55 to $7.25 an hour. That was in 2009. Today, we’ll get into why there hasn’t been a successful push to boost it since then and who suffers as a result. Plus, officials in China promise major tax reform, apartment vacancies in Sun Belt cities rise and the Federal Reserve keeps an eye on GDP estimates.
Jul 24, 2024•27 min•Transcript available on Metacast “Act your wage,” “coffee badging,” “ghost jobs” — the internet is always vomiting up new workplace phrases. You may even use some of them to describe the bizarre job market of the past few years. So when popular work slang shifts from silly — “lazy girl jobs” — to grim — “quiet cutting” — are there hints about where the labor market is headed? Also in this episode: Tech firms ditch user counts, car sales motor on despite high costs and ...
Jul 23, 2024•28 min•Transcript available on Metacast In the face of major news, some say the bond market can signal what comes next economically. But so far, bond yields don’t seem to be reacting to Biden’s dropping out of the presidential race. In this episode, what the crystal ball of the economy does care about in regard to elections. Plus, business investments outpace GDP gains, Nvidia employees cash in on the chipmaker’s hockey stick-shaped earnings growth and Friday’s CrowdStrike crash reveals a common cybersecurity w...
Jul 22, 2024•27 min•Transcript available on Metacast Nearly every economic sector relies on secure technology networks: retailers, airlines, hospitals and more. After a faulty software update by cybersecurity giant CrowdStrike, businesses across the globe came screeching to a halt, dragging customers with them. In this episode, the tech firm behind today’s maddening “blue screen of death.” Plus: why the Federal Reserve plans communication blackouts, a former delivery driver remembers using chickens to mark her routes, and industr...
Jul 19, 2024•27 min•Transcript available on Metacast The number of people filing for jobless benefits in each of the last two weeks rose. That means it’s taking job seekers longer to find employment. It’s also offers mild support to those who want to see lower interest rates. Also: Who’s spending and who isn’t? And what AI means for authors and publishers.
Jul 18, 2024•25 min•Transcript available on Metacast Now’s the time of year when many families look for a new home. But it’s a seemingly impossible market for first-time buyers: high prices, high mortgage rates, high insurance, low inventory. We’ll explain how some are pulling it off and why some experts believe lower home prices and rents are in sight. Also: State and local governments have been on a hiring spree, and business inventories are up.
Jul 17, 2024•26 min•Transcript available on Metacast Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.
Jul 16, 2024•26 min•Transcript available on Metacast The economy seems to be coming in for a soft landing, and that’s a big reason banks are doing so well. Markets are up, emboldening companies to make merger deals, which they pay investment banks to execute. JPMorgan Chase just posted the highest quarterly net income for a bank in U.S. history — $18.1 billion. Also: On the eve of Amazon Prime Day, how a shipping hub handles quick turnarounds. Plus, another decline in China’s GDP, and a DJ looks back at her analog life spinning vinyl....
Jul 15, 2024•26 min•Transcript available on Metacast Nearly a million Texans are without power after Hurricane Beryl damaged an already fragile energy grid. As they wait for the lights come back on, we’ll explain why pretty much the whole country needs costly energy grid updates, especially as climate change makes weather more extreme. Also in this episode: Students who attended for-profit colleges are drowning in debt, and legal experts break down what might happen to federal regulatory agencies without the Chevron deference.
Jul 12, 2024•26 min•Transcript available on Metacast Inflation cooled for the third straight month in June, and borrowers hope rate cuts come soon. But will enough “good data” show up to ease the risks of a flare-up in prices? We break down the Fed’s decision-making process — and explain why shelter prices are one thing holding the central bank back. Also in this episode: Workers at the Port of Baltimore are full steam ahead as the region recovers from the Key Bridge collapse, and a SCOTUS decision opens the door to changes in tr...
Jul 11, 2024•27 min•Transcript available on Metacast Inquiring minds want to know: When will the Federal Reserve cut interest rates? Fed Chair Jay Powell isn’t ready to answer that question. But when rates are cut, there’s gonna be a lag before the Americans feels it. Also in this episode: Egg-freezing rates skyrocket as more employer benefits cover the procedure, the U.S. is less trade-oriented than other countries, and nearly half of Gen Xers aren’t financially on track to retire, a new study says.
Jul 10, 2024•27 min•Transcript available on Metacast The job market has cooled in recent months. The days of two openings per available worker may be over, but some sectors still have to struggle to find employees. One industry on a hot streak is health care, thanks in part to the continued workforce disruptions caused by COVID. Also in this episode: Small-business optimism rises despite cost concerns, tweens concoct potentially harmful “skin care smoothies” and steel prices sag as demand drops.
Jul 09, 2024•27 min•Transcript available on Metacast Paramount just announced a merger with Skydance, a film production company. The hope is that adding Skydance’s offerings to its streaming platforms will boost subscriptions. But streaming is a finicky business, where you have to be a top-tier service to thrive. Also in this episode: Dynamic pricing technology could be profitable for retailers, some Chinese families seek gentler school environments and Americans visit South Korea as skin care tourists.
Jul 08, 2024•28 min•Transcript available on Metacast Federal surveys aren’t great at collecting data on Native Americans. One reason? As many as 60% of people who check the American Indian/Alaska Native box on forms also check another race box, the Brookings Institution found. In this episode, we’ll explain how undercounting impacts the federal government’s fulfillment of its obligations to Native nations. Plus, we’ll take a trip down the Houston Ship Channel and dissect the latest jobs report.
Jul 05, 2024•27 min•Transcript available on Metacast The May jobs report said wages had risen about 4% over 12 months, while inflation was 3.3% over the same period. Good news, right? Then why did consumer sentiment hit a 7-month low in June? In this episode, other wages-related measurements that might explain that economic pessimism. Plus, a Yale legislation-scoring group focuses on outcomes, and precision agriculture technology adoption is slow.
Jul 04, 2024•27 min•Transcript available on Metacast The Federal Reserve has a decision to make: cut interest rates to help the slackening job market and risk the progress it’s made in cooling inflation, or keep rates high — which could push unemployment up. In this episode, we’ll explain the economic inflection point and why interest rates don’t have the relationship to the labor market they once had. Plus, the presidential debate bumped up bond yields, the “beer industry” encompasses all types of drinks and customer...
Jul 03, 2024•28 min•Transcript available on Metacast 
