Marketplace All-in-One

The Federal Reserve’s preferred gauge for inflation went up 6.8% in the year that ended in June, reaching yet another 40-year high. It’s difficult to say, then, that we’ve hit peak inflation, and that’s stretching consumers even thinner, says Christopher Low, chief economist at FHN Financial. A look at what’s in the CHIPS Act, the semiconductor-boosting bill that’s expected to be signed into law soon. And we talked to APM Reports about their recent investigation into allegations against a popular COVID testing company.

West Virginia Democratic Sen. Joe Manchin has announced his support for a sweeping $430 billion dollar package in the Senate that aims to address climate change and health care. We delve into what’s in the bill and what Manchin’s support means for its prospects in Congress. Plus, a look into Amazon’s latest company results and what they mean for the retail sector. And China is reportedly considering a relief fund for embattled property developers.

From the BBC World Service: Britain’s defense secretary, Ben Wallace, says a private Russian military company called the Wagner Group has likely been tapped to send troops to the frontlines in Ukraine. Also, the Eurozone reported stronger-than-expected economic growth. Plus, a ship carrying grain from Ukraine is expected to depart Odesa for the first time since the war began. And, you’ve probably heard the phrase “paperless office”, but what about the idea of de-printing and reusing the same paper again?

Yes, we know, the GDP numbers are in. The United States reported today a 0.9% drop in gross domestic product in the second quarter. We’ll discuss. Also, Chinese officials expect to miss economic growth targets. On today’s show, Kai Ryssdal and guest host Matt Levin discuss the “squishy” situation China could find itself in. Plus, a bold move from the Federal Trade Commission could signal a new path to regulating Big Tech. Then we’ll wrap up the show with a “berry” delicious Make Me Smile from Down Under!

Here’s everything we talked about on the show today:

Join us tomorrow for Economics on Tap! We’ll be livestreaming on YouTube starting at 6:30 p.m. Easter time, 3:30 p.m. Pacific time.

We’ve said it before, and we’ll say it again: Two consecutive quarters of shrinking gross domestic product do not necessarily spell recession. Today, we’ll take a big-picture view of what the GDP report does and doesn’t tell us about the strength of the American consumer and the overall economy. Also on today’s show: a potential electric vehicle tax credit and a pay increase for job switchers.

GDP declined 0.9% in the three months ending in June, and what that means is up for debate. The natural gas saga between the European Union and Russia has affected German chem company BASF. We talk more about finding purpose in your work with “Severance” as a backdrop.

The Fed has raised rates again, and we are about to get a first look at economic growth in the second quarter. As part of our examination of the Apple TV+ show “Severance,” we speak to a Wharton professor about the quest to find purpose in work.

From the BBC World Service: As Russia continues its war in Ukraine, we hear how an agreement struck last week means Turkey will play a vital role in ensuring safe passage for ships from Ukraine. Plus, French President Emmanuel Macron has been on a tour of western Africa as part of a trip to strengthen ties with the continent. And we hear about a new book from the “Time-Travelling” economist.