It was a crazy week in economic news. Luckily we have the Weekly Wrap to review what went down. We’re joined by Leigh Gallagher from Fortune Magazine and Rachel Abrams from the New York Times to unpack the last five days in stock market and shutdown drama. Then: We spent a year covering the 10-year anniversary of the financial crisis with our series #HowWeChanged. We’ll talk about what we learned from hearing people’s personal stories about how the recession changed their lives. And remember that huge GOP tax overhaul passed about a year ago? It’s the biggest change to the tax code in three decades. We’ll talk about how the rollout has gone so far and why tax workers are scrambling to get it right.
The federal government is still shut down and is set to remain that way until the new year. For hundreds of thousands of federal workers, that means more time without pay. On today’s show, government employees and contractors share stories about how the shutdown has affected them. Then: A federal climate change report predicts dire consequences for American farmers if steps aren’t taken now. We check in with farmers who are weighing their options for the future. Plus, we’ll talk with Curbed’s Patrick Sisson about how online shopping is increasing pollution.
Our retirement savings are looking a little healthier today. The markets rebounded, and after weeks of losses and volatility, we’ll have the latest on what’s happening on Wall Street. Meanwhile, the partial government shutdown drama continues. We’ll talk about the way government data affects the markets and what happens when agencies stop gathering that data. Then: This was a long year for tech. In 2018, we saw security breaches, privacy scandals and congressional hearings. We’ll look back at the year’s tech news with Marketplace Tech host Molly Wood. Also on today’s show, another installment of “How to Be a …” This time, we’ll learn who’s responsible for choosing the music in that favorite TV or movie scene of yours from music supervisor Morgan Rhodes.
U.S. markets are closed for Christmas, which means that investors can take a deep breath from this month’s volatility. We’ll zoom out and talk about the disconnect between plummeting stock prices and what’s keeping our economy strong. Then: Consumer confidence is high, meaning stores are banking on a great holiday retail season. So why do retailers offer steeper discounts online than in-store? We’ll do the numbers. Also on the show today: avocados. We’ve all heard tired jokes about millennials and avocados, but some are betting on the fruit to be more than just a food trend. We’ll talk to Alessandro Biggi and Francesco Brachetti, the co-founders of what they call the world’s first avocado bar.
’Twas the night before Christmas, and the markets continued to dive, so we start with the big picture question: Can President Donald Trump remove Jay Powell as head of the Federal Reserve? Like many things in life, the answer is a bit complicated. Then, let’s address the giraffe-shaped void in our retail lives this holiday season. With Toys R Us filing for bankruptcy, where are holiday shoppers getting their toys? Later, we talk about the business model behind subscription beauty boxes with Birchbox CEO and co-founder Katia Beauchamp.
As Congress anticipates a federal shutdown, some federal workers could face the holidays without a paycheck. We hear from employees and contractors about their concerns going into the holidays. Earlier this week, the Federal Reserve raised interest rates for the fourth time this year, increasing rates from 2.25 percent to 2.5 percent. Fed Chair Jerome Powell has plans to hike interest rates two more times in 2019 if the economy stays strong, but some want to pause rate increases. Minneapolis Fed President Neel Kashkari joined us to discuss why he thinks the Fed should be patient with raising rates and the risks associated with those rate hikes. Then, a dispatch from tax hell. With filing season on the horizon, accountants are scrambling to understand the new tax law.
Today was another keep-you-on-your-toes day in the stock market: Investors are buying, prices are going up and yields are going down. We talk about what that all means. Also: It’s the holiday season, and there are just a few days left until the kids unwrap their toys. We take a look back at the history of Hot Wheels, products that made Mattel $847 million last year. Plus, we take a closer look at the creator economy and the dark side of social media influencing.
Today the Fed announced that it would raise interest rates for the 4th time this year. Higher interest rates means Fed watchers on Wall Street are reacting. We break it all down. Then, how FedEx is a sort of bellwether for the economy. Later, we cover the latest in Facebook’s data privacy struggles – which include a lawsuit and a New York Times investigation. Also: the United Kingdom’s Court of Appeal ruled that Uber drivers are considered company employees, so we talk about what that means for worker wages. Plus, Stephan James, the star of “If Beale Street Could Talk,” on his job as an actor.
The president has some advice for the Federal Reserve ahead of the Fed’s meeting on interest rates. We’ll talk to Bloomberg’s Jeanna Smialek about the recent market volatility and what is causing uncertainty. Also, several new studies have found many CEOs are worried a recession is near, even if the economy is relatively strong. Is it possible to talk ourselves into a recession? Plus: The attorney general of New York ordered a dissolving of the Trump Foundation amid an ongoing lawsuit and investigation into the foundation’s finances. The Washington Post’s David Fahrenthold has been covering the Trump family’s businesses and this court case since the very beginning. We’ll talk to him about how the Trump Foundation got here. Spoiler: It involves a $10,000 portrait of the president.
Many Americans were close to retiring when the financial crisis hit. As part of our series Divided Decade, we’ll look at the long road to recovery for seniors. But first, what you need to know about that Affordable Care Act ruling. Then, we’ll look at what happens to the thousands of Californians displaced by fires.