Episodit
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The issuance of corporate bonds has slowed to a crawl, thanks to all that uncertainty in the economy. And without raising money in the bond market, firms may pull back on long-term investments. Also in this episode: The Democratic Republic of the Congo extends its ban on cobalt exports to raise prices, strains in the bar and restaurant business lead to closures and we answer listener questions on trade policy.
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You may be wondering whether the prices of your go-to products, from avocados to smartphones, will be raised by tariffs in the coming weeks. We hear you! On the show today, Martha Gimbel, executive director of the Budget Lab at Yale, gives us a broad view of the tariff landscape, how the prices of certain consumer goods could change, and how Trump’s trade agenda could impact the American economy in the long run. Plus, why a trade deficit isn’t necessarily a bad thing.
Then, we’ll smile about the joy of listening to kids learn to talk. And, Carrie Lane, author of “More Than Pretty Boxes: How the Rise of Professional Organizing Shows Us the Way We Work Isn’t Working,” answers the Make Me Smart question.
Here’s everything we talked about today:
"Tariffs on China set to rise to at least 104% on Wednesday, White House says" from CNN Business
"Stock Market Today: Dow, S&P 500 Swing Wildly; Trump Threatens More China Tariffs" from The Wall Street Journal
"What is the status of the Trump administration's tariffs?" from Marketplace
"Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2" from The Budget Lab at Yale
"Trump Tariff Tracker" from the Atlantic Council
Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.
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Care for a glass of Chianti or Bordeaux after recent market volatility? It'll cost ya. After a tense few weeks, President Donald Trump announced a 20% tariff on all EU goods, including wine. While you might think that U.S. producers would be cheering, domestic wineries and wine shops are worried. Plus, there's an ongoing tug-of-war in the bond market, and there's a rally on Capitol Hill today over cuts to humanitarian aid.
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Overseas stock markets and U.S. stock index futures are showing an upward move in prices today, and volatility is down in sharp contrast to yesterday morning. Yesterday's rollercoaster ride resulted from false information about a potential tariff pause. Some $2.5 trillion went in and out of stocks, according to the Wall Street Journal — all in about a half hour. Also, U.S.-China trade tensions are escalating, and low oil prices may thwart Trump's domestic oil production goals.
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From the BBC World Service: In a push toward a full-blown global trade war, China has reacted strongly to President Donald Trump's threat to raise tariffs on its exports to more than 100%, saying it would "fight until the end." Meanwhile, markets in Asia and Europe are more stable after a few rocky days. Plus, how are businesses across the world dealing with uncertainties wrought by the onslaught of fresh tariffs?
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Microsoft celebrates its 50th anniversary this month. The company started as a small software startup co-founded by Bill Gates and Paul Allen in an Albuquerque, New Mexico, garage. It went on to revolutionize personal computing, business productivity and now — it hopes — artificial intelligence with its big investment in OpenAI, the maker of ChatGPT. Microsoft has set about integrating the technology across its products, and it recently unveiled a slew of upgrades to its Copilot AI assistant. They include Memory, which retains personal details like the foods you like or your kids' birthdays and can use that information to make your dinner reservations or pick out a gift. The Vision upgrade enables the AI to analyze photos and video and provide tips on, say, redecorating your kitchen. Marketplace's Meghan McCarty Carino spoke with Yusuf Mehdi, Microsoft's consumer chief marketing officer, to learn more about the new features.
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Import levies on Chinese goods amount to 54% right now. But some things that China excels at producing will likely remain in China. In this episode, why shoemaking can’t up and leave anytime soon. Plus: Copper prices ballooned and tanked in the past few weeks, European carmakers weigh their options in the trade war and recession fears, not inflation fears, are driving bond yields.
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Global markets are reeling after President Trump’s latest tariff announcement last week, prompting business executives like JP Morgan CEO Jamie Dimon to speak out against Trump’s trade agenda. This comes just a few months after Dimon previously said to “get over” Trump’s tariff threats. Kai has thoughts. Plus, we’ll get into how long it could take for global trade to rebalance and what some conservative think tanks are saying about all the tariff upheaval.
Here’s everything we talked about today:
“JPMorgan CEO Jamie Dimon Warns Tariffs Will Raise Prices, Slow Growth” from The Wall Street Journal
“Jamie Dimon says Trump's tariff policy is positive for national security so people should 'get over it'“ from CNBC
“New tariffs could spell major trouble for global economy” from the Competitive Enterprise Institute
“Trump’s Tariffs Are an Economic Emergency for Americans” from the American Enterprise Institute
“Brace for Impact, America. Trump’s Tariffs Will Soon Hit Your Bank Accounts” from the Cato Institute
Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.
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Major indexes on Wall Street are highly volatile this morning after conflicting messages from the Trump administration over global tariffs. At first, there appeared to be word of a potential tariff pause under consideration at the White House; that sent stocks briefly skyrocketing. Then, another report came that contradicted the first, and stocks plunged again. Plus, with stocks tumbling, money has been pouring into safer alternatives like money market funds and CDs.
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President Donald Trump told reporters last night that he doesn’t want stocks to go down but that “sometimes you have to take medicine to fix something.” A key matter is whether 10% across-the-board tariffs — and country-specific ones as high as 49% — are permanent, considering the global market meltdown. The big jumps kick midweek. Also on the program: an interrogation of Americans’ debt and the weight of carrying debt in old age.
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From the BBC World Service: Stock markets across Asia, Europe and Australia have continued to plummet as the shockwaves from President Donald Trump’s tariffs reverberate around the world. Markets were in the red, and no sectors were spared in Asia’s major sell-off. Plus, European trade ministers are meeting to work out a response to the new duties imposed by the U.S. Will they opt for retaliatory tariffs?
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Rising demand for electricity, largely to power the artificial intelligence boom, has stirred a resurgence in nuclear energy. Older plants like Three Mile Island in Pennsylvania are being brought out of retirement, but there’s also investment in smaller-scale reactors with different designs. The fresh interest in nuclear generation has also renewed discussion about how to build these facilities ethically, in other words, with an approach that’s sensitive to the needs of the community and the world at large. Marketplace’s Meghan McCarty Carino spoke with Aditi Verma, assistant professor of nuclear engineering at the University of Michigan, who co-created an undergrad course about ethically designing modern nuclear facilities. Verma discussed her effort to train young engineers to transform the industry.
For some engineers, it’s also renewed a discussion about how to build these facilities ethically. Marketplace’s Meghan McCarty Carino spoke with Aditi Verma, professor of nuclear engineering at the University of Michigan who co-created a course for undergraduate students about how to ethically design modern nuclear facilities, about why it’s so important to be teaching this to young, would-be engineers now.
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On this edition of “Economics on Tap,” Kimberly and Sabri discuss how it’s nearly impossible to tariff-proof your shopping list (or cocktail) because of the way our global economy works. They also get into why reshoring might be easier said than done. Plus, could Congress claw back some of the authority on tariffs? And the hosts weigh in on this season of “White Lotus” in a round of Half-Full/Half-Empty!
Here’s everything we talked about today:
“These cocktails and wines could get pricier if Trump imposes tariffs” from The Washington Post
“US Senate Republican pushes to require congressional approval for new tariffs” by Reuters
“House Republican moves to rein in tariff powers” by Politico
“Powell Warns Trump’s Tariffs Risk Stoking Even Higher Inflation and Slower Growth” from The New York Times
“The Revolving Restaurant Is Back Again (and Again)” from The New York Times
“Americans Rush to Buy TVs, Soy Sauce, Lululemon Workout Gear” from The Wall Street Journal
“This Financial Firm Can Give Investment Advice in Gen Z Slang, No Cap” from The Wall Street Journal
‘The White Lotus” Season 3 finale: How to watch, plus what we know about Season 4 from Yahoo Entertainment
Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.
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Tariff-driven inflation will hit Americans with the lowest incomes the hardest, slashing their disposable income by at least $1,700 a year, the Yale Budget Lab predicts. We’ll explain why. And the labor market could suffer too if demand falls for all those higher-priced products. Plus, New Mexico allocates oil and gas revenue to child care programs, and in booming West Texas, some residents struggle to access running water.
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Because it probably won’t look pretty. The stock market plummeted again this morning on news that China is putting hefty new tariffs on American goods — 34% to be exact. In other data news, unemployment unexpectedly ticked up, and job gains were relatively uninspiring. We’ll unpack. Then, we’ll hear what tariffs mean for cheap clothing and glean tips from car buyers at a used car auction as part of our Tricks of the Trade series.
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Jeep and RAM’s parent company Stellantis announced at least temporary layoffs as it shifts strategy in light of new tariffs. The Wall Street Journal says Volkswagen plans to put an import fee line onto car sticker prices. Yet tariffs are winning tentative support from the United Auto Workers Union, who hopes that tariffs bring more production back to American union plants. Plus, commodity prices drop, and VC dollars flow to AI startups.
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From the BBC World Service: Asian and European markets have fallen further as global markets continue to process the impact of President Donald Trump’s tariffs. Also on the show, the CEO of pharmaceutical giant Eli Lilly reflects on tariffs and the CEO of Microsoft says humans need to be involved in AI decisions that impact our lives. Plus, we hear how car buyers can snap up ex-rental bargains at auction.
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OpenAI — the maker of ChatGPT — keeps raising more money, this time in a $40 billion round led by SoftBank. We’ll get into the strings attached in Marketplace “Tech Bytes — Week in Review.” Plus, what’s going on with Tesla’s sales slump? And how much is its polarizing CEO, Elon Musk, to blame? But first, the clock is ticking on a TikTok sale. The extended deadline, which may or may not be a real deadline according to President Donald Trump, is coming Saturday. As of this episode’s recording, the hugely popular short-form video app was supposed to find a U.S. buyer or be banned, and plenty of suitors have thrown their hats into the ring. Marketplace’s Meghan McCarty Carino spoke with Maria Curi, tech policy reporter at Axios, about all these topics and more.
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Want to make a difference with your money? In this episode, host Yanely Espinal speaks with author and financial educator Kara Perez about how to align your money with your values. Perez gets into the ways that you can spend, save, and invest based on what matters to you.
Think you’re financially inclined? Dig deeper into making change with your money:
Learn more about sustainable investing from Harvard Business School
Read about the impact of supporting small businesses
Find more on ethical banking from NerdWallet
Are you in an educational setting? Here’s a handy listening guide.
Thanks for listening to this episode of “Financially Inclined”! We’d love to hear what you learned from it or any questions you’d like us to answer in a future episode. You can shoot us an email at [email protected] or tell us using this online form.
This podcast is presented in partnership with Greenlight: the money app for teens — with investing. For a limited time, our listeners can earn $10 when they sign up today for a Greenlight account.
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President Donald Trump unveiled sweeping tariffs on American imports, with the levies coming in higher than expected. Do we need to be stockpiling our carts to get in front of rising costs? We asked economists how they’re personally preparing for higher prices. Plus, Reema and Kimberly unpack international responses as countries buckle up to negotiate — or take retaliatory measures. Also, why are we putting tariffs on uninhabited islands near Antarctica?
Here’s everything we talked about today:
“Tariffs Will Hit All U.S. Imports. Price Hikes for These Items May Surprise You” from The Wall Street Journal
“Tariff-related layoffs hit five US auto plants that supply factories in Canada and Mexico” from CNN Business
“Sweeping Trump tariffs shock global economy, draw calls for talks” by AP News
Watch: “In Full: Prime Minister Anthony Albanese responds to new US tariffs” by ABC News Australia on YouTube
“‘Nowhere on Earth is safe’: Trump imposes tariffs on uninhabited islands near Antarctica” by The Guardian
“The Blunt Force Trauma of the Trump Tariffs” from Wired
“Support Grows for President Trump’s America First Reciprocal Trade Plan” from The White House
Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
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