Following a weaker than expected jobs report today, President Trump said he’ll fire the head of the Bureau of Labor Statistics, claiming the data was rigged. It’s an unprecedented move with potentially enormous consequences for our understanding of the U.S. economy. We’ll explain. And, we’ll get into how Trump’s tariffs are destabilizing economies across globe. Plus, we’ll weigh in on tariff “rebates” and pricier desserts during a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "The full list of Trump’s tariffs – from India to Taiwan" from The Guardian 
• "‘There’s no work now, just debt’: Cambodian garment workers face precarious future as US tariffs loom" from The Guardian 
• "Tariffs Bring Disaster In Lesotho, the Country That Trump Says Nobody’s Heard Of" from The Wall Street Journal 
• "85 percent of parents worry about tariffs affecting back-to-school cost: Survey" from The Hill 
• "Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets" from CNBC
• "Big Downward Jobs Revisions Could Be a Warning Sign for the Economy" The New York Times
• "Private equity tees up to invest in youth sports" from Marketplace
• "NYC’s Luxury Dessert Scene Is Booming and Higher Priced Than Ever" from Eater
• "Subscription-based children's magazines are revitalizing the genre" from Marketplace
• "GOP senators reject Trump’s pitch to use tariff revenue for ‘rebates’" from The Washington Post

We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

The Federal Reserve left its benchmark interest rate unchanged after meeting yesterday, despite repeated pressures from President Trump to cut rates. But not everyone at the Fed was happy about it. On the show today, Marketplace’s Nancy Marshall-Genzer joins Kimberly to fill us in on the recent debate over lowering interest rates and the political tension surrounding the Fed. Plus, thriving raspberry bushes make us smile.

Here’s everything we talked about today:

• "The Federal Reserve leaves interest rates unchanged" from Marketplace 
• "Fed's Powell sticks with patient approach to rate cuts, brushing off Trump's demands" from AP News
• "Could Trump use Fed HQ renovations as a pretext to fire Powell?" from Marketplace 

• "What’s Holding Trump Back From Firing Powell" from The Atlantic

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

The United Nations this week warned that “widespread starvation, malnutrition and disease” are contributing to a rise in hunger-related deaths across the Gaza Strip. This comes as the flow of aid into Gaza has slowed in recent months and the price of food has increased drastically. On the show today, Reema shares what life looks like for her family there right now. And, we’ll get into the growing international pressure on Israel to lift barriers that organizations have faced in delivering aid.

Here’s everything we talked about today:

• "In Gaza, mounting evidence of famine and widespread starvation" from UN News
• "How Food Supplies in Gaza Have Dwindled Under the New Israeli Aid Plan" from The Wall Street Journal 
• "The Gaza Humanitarian Foundation Can Feed Starving Gazans" from The Wall Street Journal 
• "What’s Happening in Gaza? FAQ: Hunger and Humanitarian Aid" from World Food Program USA
• "A famine hasn't been declared in Gaza, but that may not matter, experts say" from ABC News

• "A conversation with Baba" from “This Is Uncomfortable”

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

Along with some other federal agencies, the Trump administration has attempted to gut the Institute of Museum and Library Services. It’s a small agency, but public libraries across the country rely on its funding. The loss of federal grants isn’t the only thing these community hubs are up against. On the show today, Sam Helmick, president of the American Library Association, explains how public library funding works, the challenges presented by the shift to digital media, and what the culture wars look like on the ground at public libraries.

Later, listeners share their thoughts on the new No Tax on Tips and Overtime laws. Plus, a librarian answers the Make Me Smart question.

Here’s everything we talked about today:

• "The Trump Administration Is Threatening Libraries, Museums, and Other Nonprofits That Support the Arts, Humanities, and Learning" from the Center on Budget and Policy Priorities 
• "Libraries are cutting back on staff and services after Trump's order to dismantle small agency" from AP News
• "1 big thing: Libraries' e-book battle" from Axios

• “No Tax on Tips” Is an Industry Plant" from The New Yorker 

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

Over the weekend, President Trump announced a new trade deal with the EU: 15% tariffs on most goods in exchange for the EU’s promise to purchase U.S. energy. But a court case brought by a group of small businesses could derail Trump’s tariff agenda. We’ll explain what’s at stake. Plus, a reminder to get outside and enjoy what nature has to offer. (But stay cool!)

Here’s everything we talked about today:

• "EU-US tariffs: five key takeaways from the trade deal" from The Guardian
• "US and EU reach tariff agreement" from “Marketplace Morning Report” 
• "EU's pledge for $250 billion of US energy imports is delusional" from Reuters 
• "Japan Expects Only 1-2% of $550 Billion US Fund to Be Investment" from Bloomberg
• "Trump's economy faces historic week on interest rates, trade, jobs and more" from Axios
• "Trump's trade deals and tariffs are on the chopping block in court. What happens next" from CNBC
• "Texas buys land for new state parks that will be developed using $1 billion voter-approved fund" from The Texas Tribune 

• "A 100-year-old on a bike? Yes. ‘The right to wind in your hair’" from The Washington Post 

  
  

  
  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

Earlier this week, President Trump announced a “massive” trade deal with Japan. But as Japanese officials clarify some of the terms, it’s not clear how concrete the deal actually is. We’ll explain. Also, some wealthy Democrats who stand to benefit from Trump’s tax cuts are rallying against them. Plus, we’ll play a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "Cracks widen in Japan and US’s interpretation of tariff trade deal" from The Financial Times 
• "Trump’s Tariffs Are Being Picked Up by Corporate America" from The Wall Street Journal 
• "Rich liberals do not want their big Trump tax cut" from The Washington Post
• "AI has come for the fragrance industry" from Marketplace 
• "Want to pay down the national debt? The US government will take Venmo" from The Verge 
• "Meme stocks have staged a surprising return" from Marketplace 
• "Restaurants Are Trying to Tariff-Proof The Menu" from Eater

We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

Republicans’ newly passed tax and spending law makes good on a promise President Trump made over and over on the campaign trail: No Tax on Tips and Overtime. But the change likely won’t have the drastic impact many workers think it will. Marketplace’s Kristin Schwab joins us on the show today to break down the nuts and bolts of how the tax breaks will work and how American workers and businesses could be affected. Plus, Kimberly’s cat Artax makes an appearance.

Here’s everything we talked about today:

• "How the new "No Tax on Tips" and overtime laws work" from Marketplace 
• "No Tax On Tips And Overtime: What Workers Should Know" from Bankrate
• "Here’s A Tip: ‘No Taxes on Tips’ May Be Good Politics But Is Bad Policy" from the Tax Policy Center

• “An Illustrated Guide to Who Really Benefits From ‘No Tax on Tips’” from The New York Times

  
  

  Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 Pacific/6:30 Eastern. See you then!

President Trump announced a trade deal with Japan that will impose 15% tariffs on imports. Wall Street is happy, but it could put the United States in an awkward position as the Trump administration continues to seek other deals. Sabri Ben-Achour explains. Also, the federal government is leading a major deregulatory crusade. And they want your input. Plus, quilts and blooming plants make us smile.

Here’s everything we talked about today:

• "Trump's Labor Department proposes more than 60 rule changes in a push to deregulate workplaces" from AP News
• "Trump Strikes Deal With Ally Japan Setting Tariff Rate at 15%" from Bloomberg

• Listener Jen’s quilting Instagram

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

Lately, tech companies like Meta have been putting hundreds of billions toward building new data centers to power their AI ambitions. Some communities have been pushing back, however, arguing these facilities strain local resources. But demand for data centers isn’t expected to slow down anytime soon. On the show today, Landon Marston, professor of civil and environmental engineering at Virginia Tech, explains what data centers actually are, why they require so much energy and water to operate, and how they can affect nearby communities. Plus, how can data centers become more sustainable?

Later, reflections on Medicaid cuts and the power of journaling. And, a listener makes us smarter about “100-year floods.”

Here’s everything we talked about today:

• "Their Water Taps Ran Dry When Meta Built Next Door" from The New York Times
• "Coreweave stock pops after company announces $6 billion AI data center in Pennsylvania" from CNBC
• "Meta's Zuckerberg pledges hundreds of billions for AI data centers in superintelligence push" from Reuters 
• "How A.I. Is Changing the Way the World Builds Computers" from The New York Times
• "China Is Putting Data Centers in the Ocean to Keep Them Cool" from Scientific American 

• ”The 100-Year Flood” from the U.S. Geological Survey

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].
  

Acting head of Immigration and Customs Enforcement Todd Lyons said his agency’s crackdown on unauthorized immigration will extend to employers as well. Industries that rely heavily on undocumented workers are pushing back. We’ll get into it. And, American consumers are spending in the face of tariff-fueled inflation fears. (For now, at least.) Plus, Korean beauty loyalists and summer camps for sewing make us smile.

Here’s everything we talked about today:

• "ICE head says agency to crack down on American companies hiring unauthorized workers" from The Hill
• "Transcript: Acting ICE director Todd Lyons on "Face the Nation with Margaret Brennan," July 20, 2025" from CBS News
• "The U.S. Economy Is Regaining Its Swagger Despite Trump’s Tariffs" from The Wall Street Journal  
• "Teens Learn the Lost Arts of Sewing and Ironing at New Summer Camp Taught By Local Grandmas Staving off Loneliness" from Good News Network
• "A Year’s Worth of Mascara? Fans of Korean Beauty Stock Up as Tariffs Loom." from The New York Times 

• "After Pledging to Keep Prices Low, Amazon Hiked Them on Hundreds of Essentials" from The Wall Street Journal   

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].