Federal Reserve Chair Jay Powell’s latest presser was all about the job market. Buried among the usual talking points, like hiring sentiment and the unemployment rate, was immigration. That’s because the current administration’s immigration policies are complicating Fed measures of labor market health. In this episode, falling immigration turns jobs data on its head. Plus: Robust economic growth comes without typical job creation, U.S.-China trade tensions cool, and one company teaches AI to sort your trash.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.
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Why the Fed cut interest rates
The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday. And this decision comes as President Donald Trump continues to put pressure on the supposedly independent agency to move the economy the way he wants. Plus, the president is reportedly beginning final interviews for Fed Chair Jerome Powell’s potential successor.Here’s everything we talked about today:“Fed lowers interest rates again amid debate over inflation, jobs” from The Washington Post“Trump to start final Fed chair interviews beginning with Kevin Warsh” from CNBC“What a Fed rate cut means for your home, car and credit card loans” from The Washington Post“Watch out for these refinancing red flags” from Marketplace Morning Report
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When the job market is a "complicated, unusual, difficult situation"
The Federal Reserve decided to cut interest rates again at its meeting this week, partly because Fed officials think the labor market is weaker than it appears. This morning, we'll hear why Fed Chair Jerome Powell says estimating job growth can be so tricky. Also on the show, we'll dig into the drone warfare industry, central to the ongoing Russia-Ukraine war. Plus, are we past tariff inflation yet?
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ICE raids harken back to COVID-era hardship
The COVID-19 pandemic changed the economic circumstances of many, creating demand for direct aid, interrupting consumer spending, and altering the nature of work. Today, there are people across the country in lockdown again — mixed-status immigrant families, who are experiencing disruptive economic pressures that mirror the pandemic. Today, we'll draw parallels. Plus, more people admit to stealing at self-checkouts. And, what can we expect from the Federal Reserve in 2026?
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Mexico raises tariffs on imports from Asia
From the BBC World Service: Mexico’s parliament has voted in favor of a bill imposing tariffs of between 5% and 50% on more than 1,400 products from Asian nations, including China. Mexico states that the aim is to boost jobs and domestic production. Then, survivors of a deadly typhoon in the Philippines have filed a legal claim in Britain against the oil and gas giant Shell. And later, we'll hear about the lucrative business of making drones and developing the technology to thwart them.
Marketplace® is the leading business news program in the nation. We bring you clear explorations of how economic news affects you, through stories, conversations, newsworthy numbers and more. The Marketplace All-in-One podcast provides each episode of the public radio broadcast programs Marketplace, Marketplace Morning Report®and Marketplace Tech® along with our podcasts Make Me Smart, Corner Office and The Uncertain Hour. Visit marketplace.org for more. From American Public Media.