Marketplace All-in-One

If it feels like everyone’s out of office right now, it’s because a lot are on vacation or out with COVID-19. The absences are forcing businesses to scramble and serve as a reminder that workers are rethinking work-life balance and that the pandemic still runs this economy. Plus, unpacking that interest rate hike, looking at slowing ad spending and checking in on a cooling housing market.

Some of the funds set aside from the pandemic relief law allow state and local governments to bolster affordable housing. David Kelly of J.P. Morgan reads the market tea leaves with us. The BBC reports on how chaotic heat is affecting wheat production in Europe.

Today, U.S. central bankers will send out the message that they’re making it more expensive to borrow money. In the face of mounting demand, Boeing is struggling with supply chain problems. Then, we talk robots in the workforce with senior economics contributor Chris Farrell.

From the BBC World Service: A German gas grid operator says the gas flow it’s receiving through the Nord Stream 1 pipeline is now about a fifth of its capacity. Moscow-controlled Gazprom says another turbine needs maintenance, but European officials say that excuse is a smokescreen. Plus, a reduction in gas supplies is a big problem for German industry. And, drought and heatwaves have damaged the wheat harvest in many places, except in Russia.

The Senate voted this week to advance legislation that’s supposed to help the United States compete with China on computer chip manufacturing.The bill would give American companies more than $50 billion in federal subsidies to incentivize them to make semiconductors in the U.S. Marketplace’s Marielle Segarra speaks with Secretary of Commerce Gina Raimondo, an advocate of the bill, who says national security is one reason to make semiconductors a domestic product.

The Federal Reserve could put a quick end to inflation on its own, economist Claudia Sahm says, but be careful what you wish for. Remember that thing we were talking about yesterday? Sahm, formerly of the Fed and the White House, now the founder of Sahm Consulting, says the central bank can only do so much to tame prices without throwing the economy into recession. For this week’s deep dive, she tells us some ways Congress can pitch in.

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

Have any thoughts on the show? Something interesting to share, or perhaps an answer to the Make Me Smart question? Email us at [email protected] or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.

As the Fed eyes another rate hike, two economic indicators look as though they might be teetering. The labor market remains strong but is slowing and unemployment is ticking up. Meanwhile, consumers are still buying plenty of stuff, but slipping confidence could hint at a pullback in spending. Also on today’s program: Hearst’s CEO talks about the surprising publications that buoyed the company, and we look into Kindle and Airbnb’s exit from China.

The bill would provide $52 billion in subsidies to chip manufacturing, but is that enough? The Port of Oakland is up and running following a contentious trucker blockade over independent contracting. The BBC reports on overtourism in India.

The country’s biggest retailer is expecting a drop in profits this year as people ease up on buying things. The BBC reports on Chinese e-commerce giant Alibaba getting a listing in Hong Kong as well as New York. Also, we discuss the post-crash future for crypto.

From the BBC World Service: EU energy ministers hold emergency talks in Brussels after Russia said it will further cut gas deliveries to Europe. Plus, how Chinese e-commerce giant Alibaba plans to have its primary share listing in Hong Kong as well as in New York. And, the ecological toll from a rush of tourists on India’s fragile hill and mountain retreats.