Marketplace With Kai Ryssdal

At first, Federal Reserve Chair Jay Powell’s speeches may seem yawn-inspiring. But economists, stock brokers and business folks around the globe pick over his every word, hoping for hints about the economy to come. In this episode, Fed chair speech theatrics: You just have to know what to listen for. Plus, Walmart starts selling luxury goods, affordable electric vehicles may be on their way and an economic indicator that’s been signaling “recession to come” for two years has finally turned around.

Initial unemployment claims dropped more than expected last week, down 2,000 from the week before. And that stat continues inching toward historic lows. Also in this episode: Oh, to live in the Big Apple! Why cargo bike deliveries are taking off, what the city’s new trash management plan looks like and how climate change causes home insurance headaches across the country. 

“More good data” is what the Fed wants to see before it declares victory over inflation and cuts interest rates. The central bank looks at a lot of data from different sources.  And as the economy changes, so do the Fed’s preferences regarding the facts and figures that inform its decisions. Plus, Intel secures $8.5 billion in CHIPS Act funding, Alaska faces looming gas shortages and e-waste holds troves of scarce resources.

Food plays a big role in this economy, and we’ll dig in to some industry niches in today’s episode. First up: Unilever is cutting ties with its ice cream brands, including Ben & Jerry’s and Breyers. We’ll also chew on Trader Joe’s recalls and chocolate bunny inflation. Plus: geothermal energy on Chicago’s South Side and NCAA women’s basketball.

To buy a house, you’ll probably need a real estate agent. Traditionally, sellers pay both agents a commission, a cost baked into the buyer’s closing fees. But a lawsuit settlement last week means buyers could start paying their agents directly or on an hourly basis. Also in this episode: global central banks meet this week, new tech may help bring down methane emissions, and avian flu is killing chickens across California.

The U.S. economy has been on a job creation spree in the last few years. But wage inflation has eased and unemployment even ticked up recently. What gives? Also in this episode: Infrastructure grants aid communities of color, e-commerce changes the way we shop and crawfish farmers struggle with the impact of record heat.

We keep a close eye on the price of oil because it feeds so many industries and hints at what’s coming for the global economy. And right now, the price of crude is going up along with gas at the pump. One reason is that OPEC is holding back on supply. Another: Spring is coming. We’ll explain. Also in this episode: The state of American steel, the rise of the AI training industry, and the Taiwanese roots of bubble tea.  

Catastrophe bonds are a risky bet to make. But they offered returns of nearly 20% last year, Bloomberg reported. In this episode, we’ll cover why climate change makes these bonds more popular — and more lucrative. Plus: sporting brands have an overstock problem, large group reservations are hard to come by and ads on e-commerce sites make up a $50 billion industry

The February consumer price index is out — inflation was 3.2% year over year. That’s just a smidge higher than January. Still, prices in some sectors are down from a year ago. We’ll dig into the data, from price drops in furniture to still waters in apparel. Plus: the state of banking one year after the SVB fiasco and the future of addiction treatment in Oregon. 

The Federal Reserve decided that our inflation goal is 2% annually. It hasn’t hit that level, but prices are relatively stable and the economy’s going strong, with a hot labor market and a growing GDP. In this episode, is the landing we have soft enough? Plus, inventory stories: Retailers have recovered from that early COVID supply backlog and more vehicles on dealers’ lots mean a different sales pitch.

When supply chains were backed up early in the pandemic, some businesses bulked up on warehouse space. Now that inventory is no longer a problem, what to do with the excess? And in the art world, some nonprofits are trying to buy real estate, which comes with benefits and financial hurdles. Also in this episode: COVID habits shape restaurant hiring and a bakery deals with rising costs.

A big antitrust law goes into effect today in the European Union. The Digital Markets Act is an effort to regulate Big Tech companies like Apple and Google. It’s designed to make the internet more competitive, but enforcement may prove tricky. Also in this episode: new retail subscriptions, the latest Beige Book insights, and a cowboy-skier-friendly sport.

One of many differences between President Joe Biden and and former President Donald Trump? How they talk about the Federal Reserve. While the central bank is supposed to be nonpartisan, that hasn’t stopped politicians from trying to influence it. In this episode, the Fed’s delicate political independence. Also in this episode: the cooling — but not cold — job market, an end of an era for middle-class retail, and a review of the IRS’ Direct File tax-filing system.

The U.S. produces more crude oil than any other country, but the number of active oil rigs has fallen by nearly 70% since 2014, the Energy Information Administration reports. How can that be? The answer is a combination of innovation and financial pressure. Plus, the non-alcoholic beverage market booms, the U.S. Patent Office decides AI can’t be credited as an inventor and household debt burdens are on the rise.

From “Oppenheimer” to “Poor Things,” 2023 boasted a bevy of Oscar-buzzworthy films. The ceremony isn’t till Sunday, but today  we asked New York Times critic at large Wesley Morris for his best actor, actress and picture picks. He also talked about the life of a critic and how he goes about preparing to review a movie. Plus, testing is becoming more common in hiring.

The monthly mortgage payment on a typical U.S. home has nearly doubled since 2020, a Zillow report found. With mortgage rates hovering around 7%, that isn’t likely to improve much in the near future. Plus: Bitcoin investors finally see a thaw, new guidelines encourage the federal government to hire military spouses and a Chinese coffee chain’s apparent recovery from an earnings report scandal.

January’s personal consumption expenditures report showed that prices were up 2.4% from the same time last year, suggesting that  inflation remains in a cooling trend. The report also found that incomes jumped 1% last month — the biggest monthly gain in three years. Plus, why some customers with high-yield savings accounts aren’t getting promised rates, what Chinese electric vehicle tech could mean for national security and how Florida farmworkers are enforcing heat protection standards.

U.S. gross domestic product grew at a 3.2% annual rate in the fourth quarter of last year, demonstrating the persistent strength of the economy. America is an outlier — at least for now — among world economies that have hiked interest rates to quell inflation. Plus: Some New York office towers are being repurposed and repopulated as apartment buildings, airlines are expanding routes between smaller cities and analysts say consolidation could settle the streaming wars.

The U.S. saw a boom in “entry level” homes for young couples post-World War II. Today’s housing market, and first-time homeownership, may be unrecognizable from the vantage point of the 1950s. In this episode, a look at the origins of starter homes and how sales agents are reframing the homebuying timeline. Plus, Macy’s announces a major pivot, CEO turnover cranks up and durable goods orders reveal where businesses stand on expansion.

Every time you swipe — or, these days, tap — your credit card, the merchant has to pay a fee. Some fed-up retailers are petitioning for more card fee regulation, but banks say consumers have plenty of choice as it is. Also in this episode: consumers’ moods versus economic data and pandemic purchases that buyers regret.