Marketplace
Marketplace
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Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.
Available episodes
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Oldest first
13 hours ago
Saudi Arabia’s oil cuts may not mean higher gas prices
Saudi Arabia is cutting oil production by nearly a million barrels a day in hopes of boosting prices. Thing is, plenty of supply and weaker global demand could derail its effort. Plus, construction spending is a bright spot in U.S. manufacturing, office space owners reel from remote work, and Make-A-Wish plays catch-up on a backlog of Disney wishes.
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3 days ago
Women’s labor force participation rate hits an all-time high
The labor force participation rate for “prime working age” women has peaked. That’s a pretty big deal after a dramatic drop of working women — particularly mothers — during the pandemic. Today, we’ll look at what brought women back to the workforce so quickly. We’ll also outline what happens now that we’ve reached a debt limit deal and tally the costs of catalytic converter thefts.
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4 days ago
When the government has to play catch-up in the bond market
Once Congress finalizes a debt limit deal, we’re in the clear, right? Well, the Treasury Department will have to raise roughly $1 trillion in the next three to six months by selling bonds to replenish its accounts and pay for the “extraordinary measures” it’s been taking. So what’s that mean for the economy? Also, a potential end to the “great resignation” and a conversation about tipping robots.
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5 days ago
Would the debt deal’s cuts draw blood?
The debt limit deal brokered in Washington would reduce government spending by about $1.5 trillion over the next 10 years, according to the nonpartisan Congressional Budget Office. It may sound like a lot of money, but the effects will be pretty limited, economists say. We’ll also take a look inside what is billed as the world’s largest bitcoin convention. Plus, wage-price spiral … what wage-price spiral?
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6 days ago
Businesses are flocking to suburbia
New business formation is still higher than before the start of the pandemic. But instead of ensconcing themselves in downtowns or central business hubs, many companies are popping up in surrounding neighborhoods. Today, we’ll take a bite out of growing, donut-shaped business developments. Also on the program: why consumer confidence has slipped, why international tourism is down and what’s behind the historically low Black unemployment rate.
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May 29, 2023
How the debt ceiling deal got done
President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement on raising the federal debt ceiling. But will it pass Congress? We’ll discuss and dig into the nitty-gritty of the deal. Plus, it’s a hot job market for prime-age workers. Then, a look at the complications of egg donations, courtesy of Marketplace’s “This Is Uncomfortable.”
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May 26, 2023
If faith is lost in our full faith and credit
The $24 trillion market for U.S. Treasurys — i.e., federal government debt — is the deepest and most liquid bond market in the world. It’s a linchpin of the global financial system and impacts consumer credit too. It also happens to be what’s at risk in the unfolding debt limit debacle. Plus, cities anticipate big Memorial Day crowds and the mermaiding industry preps for a wave of business.
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May 25, 2023
Why don’t we know when the U.S. will run out of money?
Treasury Secretary Janet Yellen says that a government debt default could happen “potentially as early as June 1.” Kinda wishy-washy, huh? Today, we’ll examine why the variability in government spending and revenue makes it hard to calculate an exact default date. We’ll also look at what goes into credit ratings and how the writers strike is impacting an Atlanta-based costume coordinator.
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May 24, 2023
Atlanta Fed CEO on the debt limit debacle and curbing inflation
On today’s show, we’re joined by Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, to discuss tightening credit conditions, the necessity of raising the debt limit, and why “we’re right at the beginning of the hard part” in the fight to tame inflation. Plus, AI is reshaping the computer chip industry and millions stand to lose Medicaid coverage.
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May 23, 2023
What you miss when you miss watercooler conversations
Remote work has its benefits — no commute, no awkward elevator chitchat, no frigid office temperatures. But that also means no socializing at the office, and many young people who entered the workforce during COVID-19 are missing out on building the personal and professional relationships at work. Also on the program: a trip to an LA cheese shop and the disconnect between how consumers feel about their personal economies and the larger economy.
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May 22, 2023
What’s really at the heart of the debt limit debate?
Federal officials are running out of time to reach a deal on the debt ceiling. But at the heart of that debate, there’s a fundamental truth about money itself. In this special episode, we’ll hear from a businessperson, a political scientist and a legal theorist about what’s at stake in the fight over the debt ceiling and what it reveals about the nature of money.
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May 19, 2023
Companies go on a borrowing spree
It’s been a busy month in the corporate bond market. And while you may think companies would hold off on borrowing right now given how much interest rates have risen, big mergers and the looming debt ceiling deadline could be among the reasons. Plus, an examination of the welfare-to-temp-work pipeline and a move by ESPN that could shake up cable.
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May 18, 2023
Call 2023 the year of bankruptcies
2023 is on track to be the biggest year for Chapter 11 bankruptcy filings in over a decade. Some churn is always normal, but what’s behind this year’s bankruptcy boom? Also on the show, we look at how a debt default would play out in Texas, how social media ads get us to click “buy,” and how climate change is hitting one pistachio farm.
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May 17, 2023
Your next home might just be a new home
Housing starts have ticked up recently. New homes have also been gobbling up an increasing share of the overall market, as current homeowners opt to stick with their low mortgage rates. Today, we examine the demand for new homes. We’ll also explore the expansion of retailer discounts, a new measurement of the U.K.’s debt and a roommate-matching site for aging boomers.
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May 16, 2023
Maybe reconsider those “normal” economic indicators
April retail sales numbers are making an already confusing economy even more confusing. Folks are putting off purchasing big-ticket items, yet are still splurging on services. The economy hasn’t returned to normal, but maybe “normal” is different now. We’ll also look at whether Congress can regulate artificial intelligence and who gets a leg up from welfare reform and work requirements, courtesy of Marketplace’s podcast “The Uncertain Hour.”
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May 15, 2023
Disappointed this tax season? So is the federal government.
So far this fiscal year, the IRS has brought in about $2.7 trillion in tax revenue — $250 billion less than anticipated. That shortfall is part of what makes this week’s debt limit talks so urgent. Today, we sort through the tax receipts. Plus, why clawing back unspent COVID funds will hardly dent the deficit and why the banking bust may fuel the rise of “shadow banks.”
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May 12, 2023
The FDIC is asking big banks to pay up
When the Federal Deposit Insurance Corp. stepped in to make depositors whole after recent bank failures, the agency’s insurance fund took a $15.8 billion hit. So who’s on the hook to replenish it? If the FDIC has its way, it’ll be the nation’s largest banks. Also on the program: smaller tax refunds, an alternative solution to bank runs and a potential boon to private prisons.
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May 11, 2023
When a strong economy fuels strong migration
As the pandemic-era border policy Title 42 draws to a close today, an increasing number of migrants have arrived at the U.S.-Mexico border. Whatever their reasons for leaving their home countries, immigrants are drawn in part to the United States because of the strong economy. Also on the program: what producer prices can tell us about where consumer prices are headed, and what to make of rising jobless claims.
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May 10, 2023
The death of revenge spending
Inflation is wearing consumers down, and it’s starting to show. We’re saving less, putting more on plastic and seeking out discounts. On today’s show, we dissect consumer fatigue. Then, we’ll hear what it’s like working at a rural hospital during a health care staffing shortage and examine how lenders that serve Native Americans are responding to proposed federal certification updates.
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May 9, 2023
When are markets gonna react to the debt limit drama?
Unless officials in Washington strike an agreement to raise the limit, the U.S. could default on its debt as soon as June 1. Wall Street has been taking all this in stride, but will that change, and when? Also on the program: regional variations in inflation, a wet winter in the Corn Belt and the staying power of remote mental health care.
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May 8, 2023
“I worry that people don’t think it can happen here”
Last year, Marketplace met families of transgender children in Texas who were weighing their options when the state moved to restrict gender-affirming care. As more states target LGBTQ rights, we check back in with two families — one who moved and one who stayed — and tally the costs of both. Also, airlines go on hiring sprees, shipping companies reroute goods and high interest rates squeeze smaller hospitals.
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May 5, 2023
Meet the folks prepping for an AI economic revolution
Some aren’t saving for retirement, while others aren’t saving for or staying in college. Today we’ll hear from a handful of artificial intelligence true believers who think a revolution is inevitable and are preparing for a future — and economy — that looks radically different than the one we now live in. We’ll also examine why the U.S. has so many banks and why insurers are going on hiring sprees.
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May 4, 2023
Rough time to be a regional bank, amirite?
The shares of multiple regional banks slid today amid new tremors in the industry following the collapse of First Republic. But bank failures and consolidation are actually somewhat normal. So what’s a regional bank to do? And what are investors and depositors to make of all this? Then, how JPMorgan CEO Jamie Dimon became a banking industry heavyweight and why a bump in Federal Deposit Insurance Corp. coverage seems unlikely right now.
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May 3, 2023
Why 2008 financial crisis rules didn’t stop recent bank failures
So many regulations came out of the 2008 financial crisis, and for a good while they seemed to work. Yet here we are with three bank failures in less than two months. What gives? Plus, we unpack what Federal Reserve Chair Jerome Powell did (and didn’t) say about today’s rate hike and find out what happens to all the things people throw into recycle bins.
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May 2, 2023
When the dust settles, banking will look a bit different
After three major bank failures, regulators and industry leaders are hoping all this turmoil fades in the rearview mirror. But there’s still likely to be curves on the road ahead: new regulation, industry consolidation, branch closures and loan scarcity. Today, we’ll map it out. Then, how brands like Victoria’s Secret stage comebacks and an exploration of work requirements for welfare, courtesy of the Marketplace podcast “The Uncertain Hour.”
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May 1, 2023
What JPMorgan is getting out of the First Republic deal
Banking giant JPMorgan Chase is taking over the failed First Republic Bank, but not without some guarantees. Turns out the deal was sweetened by the FDIC agreeing to be responsible for certain First Republic losses. Plus, what small banks are making of the turmoil. Then, FTC Chair Lina Khan on AI regulation and taking on powerful companies.
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Apr 28, 2023
Short sellers have made bank betting on First Republic’s free fall
First Republic Bank stock is down 97% in 2023, and this afternoon a takeover by the Federal Deposit Insurance Corp. looked imminent. Thing is, short sellers have made more than $1 billion betting that First Republic would fall. Is that good for financial stability? Plus, we’ll look into the “We buy ugly houses” business and discuss how new economic data will influence the Federal Reserve’s next move.
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Apr 27, 2023
How much longer can consumers save the day?
That’s the trillion-dollar question right now. Gross domestic product expanded by 1.1% in the first quarter, continuing a downward trend. Consumers are still driving growth, but inflation is wearing on them. So where does the American economy go from here? And later, private equity’s outsize impact on the economy and the vital role of seasonal foreign workers in landscaping.
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Apr 26, 2023
Lael Brainard: The debt limit is not a tool for “extortion”
On today’s show, Lael Brainard — the former vice chair of the Federal Reserve and current head of the National Economic Council — sits down with us to chat about fiscal policy, inflation, banking regulation and the looming debt ceiling crisis. We’ll also tackle durable goods spending, a blocked tech merger and the school superintendent pipeline.
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Apr 25, 2023
Commerce Secretary Raimondo on chips, China and women in the workforce
Congress passed billions in funding for semiconductor manufacturing last year. Today, we’re joined by Gina Raimondo — the woman in charge of distributing those funds — to dig into what is at stake. And later: Treasury proposes new regulations on nonbanks, leisure travel roars back and more strikes loom in the U.K.
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Apr 24, 2023
All that space Bed Bath & Beyond will leave behind
Sales of high-thread-count sheets and countertop appliances weren’t enough to save Bed Bath & Beyond, which filed for bankruptcy this weekend. What’s to become of all those soon-to-be-empty strip mall storefronts? Plus, why the dollar is dragging, what happened to Alibaba’s Jack Ma and lessons in college credit card debt courtesy of Yanely Espinal, host of Marketplace’s new financial literacy podcast, “Financially Inclined.”
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Apr 21, 2023
As some retailers retreat, others pounce
It’s a weird time for retailers. Some have announced layoffs and closures, while others are looking to expand their footprint. So what gives? Turns out, some stores are hoping to use this shaky economic moment to come out ahead during either a downturn or a recovery. Plus, politics and markets meet in the Weekly Wrap, and Indigenous creatives carve out space for Native perspectives in gaming and cosplay.
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Apr 20, 2023
What it would take to address the nation’s debt
Political squabbling about raising the debt limit is well underway. But to meaningfully address federal debts and yearly deficits would require big actions. Elected officials could raise taxes and chip away at things like defense spending, Social Security and Medicare — but doing so isn’t popular. We’ll also dig into coal’s decline, investment in technical training and Britain’s new trade deal.
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Apr 19, 2023
Chicago Fed president on waiting for other “credit shoes to drop”
The intensity of a possible economic slowdown will depend on how much banks tighten credit conditions, said Austan Goolsbee, president of the Federal Reserve Bank of Chicago, in an interview with Marketplace today. We’ll ask about data he’s watching closely and the central bank’s messaging challenges ahead of its rate decision. Later, Reddit rethinks data access and California utility companies rethink how they charge for power.
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Apr 18, 2023
Call it a sticky situation
After this year’s banking crisis, some lenders have bumped up interest rates on savings accounts to lure new depositors. But if the hassle of switching banks makes you go, “ugh,” blame it on what economists call “deposit stickiness.” What would it take to get customers unstuck? Plus, Netflix’s failed foray into live-streaming, and the origin of the modern welfare system, courtesy of the Marketplace podcast “The Uncertain Hour.”
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Apr 17, 2023
The price tag of those debt limit debates
House Speaker Kevin McCarthy said today that “defaulting on our debt is not an option,” but neither he nor the White House shows signs of compromising. The last debt limit stalemates drove up the cost of government borrowing — and that’s happening again. Plus, what if you paid your taxes in cash, and what’s behind layoffs at Walmart and Best Buy?
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Apr 14, 2023
A choose-your-own-economy adventure
We got seriously mixed signals from the consumer economy today. Retail sales dipped in March, while consumer sentiment ticked up. Is this economy headed for a soft landing or a cliff? Today, we parse the good, the bad and the downright confusing. We’ll also take the pulse of bank borrowing and check in on seasonal hiring ahead of higher-temps season.
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Apr 13, 2023
The origin story of “too big to fail”
The phrase “too big to fail” conjures images of the 2007-08 financial crisis. But the notion that the collapse of certain financial institutions could torpedo the larger economy goes back much further. On today’s show, we’ll trace the roots and evolution of “too big to fail.” Plus: earnings reports from TBTF banks, new car prices and the rebranding of milk.
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Apr 12, 2023
You take the good, you take the bad …
You take them both and you get the March inflation report. The consumer price index rose 5% year over year. That’s a decent “headline” number, but dig deeper and the story gets a little more complicated. Later: military recruitment, grocery bills and long-term career prospects for workers who have struggled with depression.
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Apr 11, 2023
How high mortgage rates impact the cost of rent
You know what a lot of people do when mortgage rates are too high to buy? They stay renters. And despite slowing rent inflation, that additional demand for apartments can increase competition and boost rent prices. Today, we delve into the connection between rates and rents. Also on the program: potholes, pickleball and the love of background TV shows.
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Apr 10, 2023
When “add to cart” actually costs you less
There’s some welcome news on the inflation front: Prices for online goods are falling, according to Adobe Analytics. While it’s a bit of relief for consumers, higher prices for things like services may be here to stay. Plus, how algorithms are used to pay ride-hailing drivers less, what an immigration uptick means for the labor market and a look at how COVID-19 transformed business in downtown Boston.
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Apr 7, 2023
A food fight in the school cafeteria
The U.S. Department of Agriculture is mulling new nutritional standards for school meals, and everyone’s got opinions — from the manufacturers who say the changes will make food pricier to the schools that would absorb the costs. Then there’s the students, who have to stomach it all. We’ll also delve into the Gen Z divide in labor participation and the pandemic’s macroeconomic curveballs.
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Apr 6, 2023
A month after SVB, are banks lending?
It’s been nearly a month since banking turmoil hit the headlines. While the government’s response has largely focused on insuring depositor funds, we’re starting to see signs that banks are pulling back on making loans. Plus, slowing wage gains, rising car prices and hurdles to tribal broadband access.
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Apr 5, 2023
Your tax refund may shrink this year
The countdown is on till Tax Day, which falls on April 18 this year. But many Americans will be in for an unpleasant surprise: a slimmer tax return resulting from expired pandemic tax credits. We’ll also examine why money market funds are popular right now, what “due diligence” means, and what ingredients go into TikTok’s favorite Starbucks order: the Barbie drink.
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Apr 4, 2023
The labor market’s rebalancing act
Job openings dropped in February, according to the Bureau of Labor Statistics. While that’s normally not great news, it could be a hint that the Federal Reserve’s interest rate hikes are beginning to take effect, cooling job growth and bringing the economy back into balance. Plus, the pushback against remote work, a return to just-in-time inventory and waning trust in Argentina’s financial institutions.
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Apr 3, 2023
What a production subtraction by OPEC+ means
The OPEC+ cartel surprised markets this weekend with plans to cut oil production by more than 1 million barrels per day. This classic story of supply and demand has already pushed up the oil price, and it could have major ripple effects across the global economy. Plus, hot job markets in Sunbelt cities, a merger in the world of wrestling and the origin story of “bootstrapping.”
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Mar 31, 2023
The view from the Fed’s discount window
Banks borrowed less from the Federal Reserve’s emergency lending programs this week than the week before, a sign that the threat of additional bank runs could be waning. One of those programs is called the discount window, and banks really try to avoid it. We explain why. Plus, a big change in the oil world, and an exploration of the welfare-to-work industrial complex from the latest season of Marketplace’s “The Uncertain Hour.”
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Mar 30, 2023
A labor shortage may stall the clean energy transition
The Inflation Reduction Act channels hundreds of billions of dollars into clean energy projects. But “electrifying America” could be short-circuited by the nationwide shortage of electricians. Today, we’ll hear from the companies and programs hoping to draw a new cohort of electricians to the field. Also, a preview of tomorrow’s economic data dump, a short-lived urban exodus and five child care workers on the industry’s joys and challenges.
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Mar 29, 2023
A bumpy ride for mortgage rates means bumpy home sales
Spring is when flowers, and For Sale signs, tend to start popping up. Today we learned that pending home sales rose for the third straight month in February, which seems puzzling given climbing interest rates. Could it signal a thawing housing market? Plus, a look at the debate about public funds for home-schooling and how a tight labor market benefits the poorest workers.
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Mar 28, 2023
Personal economies are the whole shebang
On this program, we’ve discussed a somewhat confusing dynamic: Consumers are sour on the economy despite a job market that’s historically strong. Today, we’re joined by Washington Post columnist Catherine Rampell to help piece the puzzle together and tally inflation’s mental and financial tolls. Plus, why recent banking turmoil may slow nonresidential construction and what one reporter learned walking from Washington, D.C., to New York.
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